Charter Communications (NASDAQ:CHTR) Given New $240.00 Price Target at Royal Bank Of Canada

Charter Communications (NASDAQ:CHTR) had its price objective cut by stock analysts at Royal Bank Of Canada from $265.00 to $240.00 in a note issued to investors on Friday,MarketScreener reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 26.48% from the company’s previous close.

Several other equities analysts also recently commented on CHTR. Benchmark lowered their target price on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a report on Monday, November 3rd. Sanford C. Bernstein decreased their price target on shares of Charter Communications from $280.00 to $240.00 and set a “market perform” rating on the stock in a research note on Thursday. Wells Fargo & Company reissued 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. The Goldman Sachs Group reduced their target price on Charter Communications from $215.00 to $210.00 and set a “sell” rating on the stock in a report on Thursday, December 18th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Charter Communications in a research note on Monday, December 29th. Four analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus target price of $313.31.

Charter Communications Price Performance

Shares of Charter Communications stock opened at $189.76 on Friday. The company has a market capitalization of $24.56 billion, a price-to-earnings ratio of 5.27, a PEG ratio of 0.53 and a beta of 1.06. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 4.89. The stock’s 50-day simple moving average is $204.71 and its 200-day simple moving average is $258.90. Charter Communications has a 52 week low of $187.85 and a 52 week high of $437.06.

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

Insider Activity at Charter Communications

In other news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total transaction of $271,416.00. Following the completion of the sale, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. The trade was a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Several institutional investors have recently made changes to their positions in CHTR. AQR Capital Management LLC boosted its stake in shares of Charter Communications by 129.1% during 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 lifted 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 during the last quarter. Jones Financial Companies Lllp boosted its position in Charter Communications by 48.1% during the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock valued at $493,000 after purchasing an additional 435 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock valued at $35,000 after purchasing an additional 55 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock valued at $270,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors 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.