Sanford C. Bernstein Cuts Charter Communications (NASDAQ:CHTR) Price Target to $240.00

Charter Communications (NASDAQ:CHTR) had its price target decreased by Sanford C. Bernstein from $280.00 to $240.00 in a report released on Thursday, MarketBeat.com reports. Sanford C. Bernstein currently has a market perform rating on the stock.

A number of other analysts have also recently commented on CHTR. Royal Bank Of Canada cut their price target on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating on the stock in a research report on Monday, November 3rd. Citigroup decreased their target price on Charter Communications from $325.00 to $310.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. BNP Paribas Exane lowered their target price on Charter Communications from $255.00 to $200.00 and set an “underperform” rating for the company in a report on Tuesday, November 4th. Bank of America reduced their price target on shares of Charter Communications from $440.00 to $355.00 and set a “buy” rating for the company in a report on Wednesday, September 24th. Finally, Wells Fargo & Company restated an “underweight” rating and set a $180.00 price objective (down previously from $240.00) on shares of Charter Communications in a report on Tuesday, January 13th. Four analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat.com, Charter Communications presently has a consensus rating of “Reduce” and an average target price of $313.31.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $189.76 on Thursday. The company has a market capitalization of $24.56 billion, a PE ratio of 5.27, a P/E/G ratio of 0.51 and a beta of 1.06. The company has a 50 day simple moving average of $204.71 and a two-hundred day simple moving average of $257.78. The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.37 and a current ratio of 0.37. Charter Communications has a fifty-two week low of $187.85 and a fifty-two week high of $437.06.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.32). Charter Communications had a return on equity of 25.55% and a net margin of 9.29%.The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the firm posted $8.82 EPS. The firm’s revenue for the quarter was down .7% on a year-over-year basis. Research analysts anticipate that Charter Communications will post 38.16 earnings per share for the current year.

Insider Buying and Selling at Charter Communications

In other news, Director David C. Merritt sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total value of $271,416.00. Following the completion of the transaction, the director directly owned 10,146 shares of the company’s stock, valued at $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.83% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cooper Financial Group raised its stake in shares of Charter Communications by 2.3% during the 2nd quarter. Cooper Financial Group now owns 1,260 shares of the company’s stock worth $515,000 after purchasing an additional 28 shares during the period. Diversified Trust Co increased its holdings in Charter Communications by 3.5% during the second quarter. Diversified Trust Co now owns 880 shares of the company’s stock worth $360,000 after buying an additional 30 shares during the last quarter. Perigon Wealth Management LLC raised its position in Charter Communications by 0.8% in the second quarter. Perigon Wealth Management LLC now owns 3,924 shares of the company’s stock worth $1,604,000 after acquiring an additional 33 shares during the period. V Square Quantitative Management LLC boosted its stake in Charter Communications by 1.6% in the second quarter. V Square Quantitative Management LLC now owns 2,347 shares of the company’s stock valued at $959,000 after acquiring an additional 37 shares during the last quarter. Finally, Advisory Services Network LLC grew its position in shares of Charter Communications by 3.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company’s stock valued at $420,000 after acquiring an additional 38 shares during the period. Institutional investors 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.