Barclays Issues Pessimistic Forecast for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price target cut by investment analysts at Barclays from $130.00 to $115.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price objective would indicate a potential downside of 6.74% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Benchmark reiterated a “buy” rating on shares of Charter Communications in a report on Wednesday. Bank of America cut their price target on shares of Charter Communications from $250.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research report on Monday, April 27th. New Street Research lowered their price objective on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. Finally, JPMorgan Chase & Co. cut their target price on shares of Charter Communications from $215.00 to $200.00 and set a “neutral” rating on the stock in a research note on Monday, July 20th. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, Charter Communications has a consensus rating of “Reduce” and a consensus price target of $248.19.

Charter Communications Price Performance

Shares of Charter Communications stock opened at $123.31 on Monday. Charter Communications has a 12-month low of $111.55 and a 12-month high of $335.52. The firm has a market capitalization of $15.17 billion, a PE ratio of 3.20, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. The company has a quick ratio of 0.40, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The stock’s fifty day moving average is $136.02 and its 200-day moving average is $183.82.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. The business had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.Charter Communications’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $9.18 EPS. Equities analysts anticipate that Charter Communications will post 41.29 earnings per share for the current year.

Insider Activity

In related news, Director Wade Davis acquired 5,728 shares of the stock in a transaction that occurred on Tuesday, April 28th. The shares were purchased at an average cost of $173.72 per share, with a total value of $995,068.16. Following the completion of the transaction, the director owned 6,925 shares of the company’s stock, valued at approximately $1,203,011. This trade represents a 478.53% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Thomas Rutledge sold 69,633 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total transaction of $10,058,486.85. Following the completion of the transaction, the director owned 3,968 shares in the company, valued at approximately $573,177.60. This represents a 94.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders bought a total of 20,125 shares of company stock valued at $3,167,116 in the last three months. 1.10% of the stock is currently owned by insiders.

Institutional Trading of Charter Communications

A number of institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in Charter Communications by 129.1% in the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock valued at $4,356,000 after purchasing an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Charter Communications by 16.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after purchasing an additional 128 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Charter Communications by 48.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock valued at $493,000 after buying an additional 435 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after buying an additional 55 shares in the last quarter. Finally, Acadian Asset Management LLC increased its holdings in Charter Communications by 451.1% in the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

Charter Communications Company Profile

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.