Charter Communications (NASDAQ:CHTR) Price Target Cut to $160.00 by Analysts at Royal Bank Of Canada

Charter Communications (NASDAQ:CHTR) had its target price lowered by analysts at Royal Bank Of Canada from $220.00 to $160.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 22.98% from the company’s current price.

CHTR has been the topic of a number of other research reports. Wells Fargo & Company cut their target price on Charter Communications from $170.00 to $160.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 7th. Citigroup cut their price objective on Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a report on Monday, June 29th. Benchmark decreased their target price on Charter Communications from $455.00 to $435.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. JPMorgan Chase & Co. dropped their target price on Charter Communications from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Freedom Capital upgraded Charter Communications to a “hold” rating in a report on Friday, June 12th. Five research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat, Charter Communications has a consensus rating of “Reduce” and a consensus target price of $249.12.

Charter Communications Trading Down 1.0%

Shares of CHTR traded down $1.26 during trading on Monday, reaching $130.10. 601,232 shares of the company traded hands, compared to its average volume of 2,667,719. The stock has a 50-day simple moving average of $137.85 and a 200-day simple moving average of $186.71. The stock has a market cap of $16.00 billion, a PE ratio of 3.50, a price-to-earnings-growth ratio of 0.24 and a beta of 0.71. Charter Communications has a twelve month low of $124.05 and a twelve month high of $402.15. 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 (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). The company had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.42 earnings per share. On average, analysts anticipate that Charter Communications will post 41.47 earnings per share for the current year.

Insider Activity

In other Charter Communications news, Director Balan Nair bought 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, with a total value of $175,460.00. Following the completion of the acquisition, the director directly owned 12,029 shares of the company’s stock, valued at $2,110,608.34. This represents a 9.07% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mauricio Ramos purchased 9,929 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the acquisition, the director directly owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have acquired 20,125 shares of company stock valued at $3,167,116. Insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC raised its holdings 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 worth $420,000 after buying an additional 38 shares in the last quarter. Occudo Quantitative Strategies LP raised its stake in Charter Communications by 1.4% during the second quarter. Occudo Quantitative Strategies LP now owns 3,069 shares of the company’s stock worth $1,255,000 after acquiring an additional 41 shares in the last quarter. Orion Porfolio Solutions LLC lifted its holdings in shares of Charter Communications by 1.7% in the second quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company’s stock worth $988,000 after acquiring an additional 41 shares during the last quarter. Pure Financial Advisors LLC boosted its stake in shares of Charter Communications by 4.1% in the 4th 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 in the last quarter. Finally, Integrated Wealth Concepts LLC grew its holdings in shares of Charter Communications by 3.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,426 shares of the company’s stock valued at $392,000 after purchasing an additional 49 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

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.