The Goldman Sachs Group Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its target price reduced by equities researchers at The Goldman Sachs Group from $120.00 to $110.00 in a report released on Friday. The brokerage presently has a “sell” rating on the stock. The Goldman Sachs Group’s price target would indicate a potential downside of 2.58% from the company’s previous close.

Several other analysts have also issued reports on the stock. TD Cowen dropped their target price on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday, July 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a research report on Monday. Zacks Research raised shares of Charter Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 4th. Wells Fargo & Company cut their price target on shares of Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday, July 27th. Finally, Royal Bank Of Canada reduced their target price on shares of Charter Communications from $160.00 to $150.00 and set a “sector perform” rating on the stock in a report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat, Charter Communications presently has a consensus rating of “Reduce” and an average target price of $215.17.

Charter Communications Trading Down 3.9%

NASDAQ CHTR opened at $112.91 on Friday. The company has a fifty day simple moving average of $142.48 and a two-hundred day simple moving average of $161.32. Charter Communications has a 12-month low of $111.55 and a 12-month high of $285.82. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock has a market cap of $13.47 billion, a P/E ratio of 2.93, a P/E/G ratio of 0.25 and a beta of 0.69.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. The company had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. Charter Communications’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the firm posted $9.18 EPS. On average, analysts forecast that Charter Communications will post 42.72 earnings per share for the current year.

Hedge Funds Weigh In On Charter Communications

A number of hedge funds have recently modified their holdings of CHTR. Pure Financial Advisors LLC increased its holdings in shares of Charter Communications by 4.1% in the fourth quarter. Pure Financial Advisors LLC now owns 1,116 shares of the company’s stock valued at $233,000 after purchasing an additional 44 shares during the period. Global Retirement Partners LLC boosted its holdings in Charter Communications by 29.3% in the 4th quarter. Global Retirement Partners LLC now owns 357 shares of the company’s stock valued at $75,000 after purchasing an additional 81 shares in the last quarter. Rothschild Investment LLC raised its stake in shares of Charter Communications by 8.0% during the 4th quarter. Rothschild Investment LLC now owns 1,244 shares of the company’s stock worth $260,000 after buying an additional 92 shares in the last quarter. Gabelli Funds LLC boosted its stake in shares of Charter Communications by 0.3% in the first quarter. Gabelli Funds LLC now owns 30,000 shares of the company’s stock valued at $6,476,000 after buying an additional 100 shares in the last quarter. Finally, V Square Quantitative Management LLC boosted its position in shares of Charter Communications by 3.9% during the 1st quarter. V Square Quantitative Management LLC now owns 2,768 shares of the company’s stock worth $598,000 after purchasing an additional 104 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.