JPMorgan Chase & Co. Cuts Charter Communications (NASDAQ:CHTR) Price Target to $200.00

Charter Communications (NASDAQ:CHTR) had its target price decreased by JPMorgan Chase & Co. from $215.00 to $200.00 in a report released on Monday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other equities research analysts also recently issued reports on CHTR. Barclays reduced their price objective on Charter Communications from $200.00 to $130.00 and set an “underweight” rating for the company in a research note on Wednesday, July 8th. Wells Fargo & Company dropped their target price on Charter Communications from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Tuesday, July 7th. Royal Bank Of Canada reduced their price target on shares of Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. UBS Group restated a “neutral” rating and set a $235.00 price target on shares of Charter Communications in a report on Thursday, June 25th. Finally, The Goldman Sachs Group lowered their price objective on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research report on Thursday, July 2nd. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $249.12.

Charter Communications Price Performance

Shares of NASDAQ:CHTR opened at $129.22 on Monday. The company’s fifty day moving average is $136.79 and its two-hundred day moving average is $185.02. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications has a 12-month low of $124.05 and a 12-month high of $402.15. The company has a market cap of $15.89 billion, a P/E ratio of 3.49, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same period last year, the business earned $8.42 EPS. The business’s quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts expect that Charter Communications will post 41.47 earnings per share for the current fiscal year.

Insider Transactions at Charter Communications

In other news, Director Balan Nair acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average price of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the acquisition, the director owned 12,029 shares of the company’s stock, valued at approximately $2,110,608.34. This represents a 9.07% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Wade Davis bought 5,728 shares of Charter Communications stock in a transaction on Tuesday, April 28th. The stock was acquired at an average price of $173.72 per share, with a total value of $995,068.16. Following the completion of the purchase, the director directly owned 6,925 shares of the company’s stock, valued at approximately $1,203,011. The trade was a 478.53% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders have acquired a total of 20,125 shares of company stock valued at $3,167,116 in the last ninety days. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Charter Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors raised its holdings in Charter Communications by 304.9% during the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after buying an additional 3,626,135 shares in the last quarter. Dodge & Cox lifted its position in shares of Charter Communications by 23.7% in the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock worth $3,049,675,000 after buying an additional 2,801,671 shares during the last quarter. Norges Bank bought a new stake in shares of Charter Communications during the 4th quarter worth about $555,383,000. Voyager Global Management LP boosted its stake in shares of Charter Communications by 1,380.0% during the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after acquiring an additional 1,725,000 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Charter Communications by 119.6% during the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after acquiring an additional 1,617,148 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc is a U.S.-based telecommunications and mass media company that provides broadband communications and video services to residential and business customers. Operating primarily under the Spectrum brand, the company offers high-speed internet, cable television, digital voice (phone) and wireless services, as well as managed and enterprise networking solutions for commercial customers. Charter’s service portfolio targets both consumer and business markets with bundled and standalone offerings designed to meet streaming, connectivity and communications needs.

The company’s consumer-facing products include Spectrum Internet, Spectrum TV and Spectrum Voice, while Spectrum Mobile provides wireless service through arrangements with national wireless carriers.