JPMorgan Chase & Co. Issues Pessimistic Forecast for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price target reduced by stock analysts at JPMorgan Chase & Co. from $215.00 to $200.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 54.12% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Zacks Research cut shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, July 6th. The Goldman Sachs Group cut their target price on Charter Communications from $185.00 to $125.00 and set a “sell” rating on the stock in a research note on Thursday, July 2nd. UBS Group restated a “neutral” rating and set a $235.00 price target on shares of Charter Communications in a report on Thursday, June 25th. Royal Bank Of Canada lowered their price target on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. Finally, Wells Fargo & Company dropped their price objective on Charter Communications from $170.00 to $160.00 and set an “underweight” rating for the company in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $252.88.

Charter Communications Trading Down 1.2%

Shares of NASDAQ:CHTR traded down $1.60 during trading on Monday, reaching $129.77. 570,636 shares of the company traded hands, compared to its average volume of 2,666,937. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. Charter Communications has a 52-week low of $124.05 and a 52-week high of $402.15. The firm has a market capitalization of $15.96 billion, a price-to-earnings ratio of 3.52, a P/E/G ratio of 0.24 and a beta of 0.71. The business’s fifty day moving average is $137.85 and its 200-day moving average is $186.71.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm had revenue of $13.60 billion during the quarter, compared to analysts’ expectations of $13.56 billion. During the same period in the previous year, the firm earned $8.42 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts forecast that Charter Communications will post 41.47 EPS for the current year.

Insiders Place Their Bets

In related news, Director Balan Nair acquired 1,000 shares of the stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $175.46 per share, for a total transaction of $175,460.00. Following the completion of the acquisition, the director directly owned 12,029 shares of the company’s stock, valued at approximately $2,110,608.34. This represents a 9.07% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,468 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were purchased at an average cost of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the transaction, the chief executive officer owned 74,409 shares in the company, valued at approximately $12,815,462.07. This represents a 4.89% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought a total of 20,125 shares of company stock valued at $3,167,116 over the last ninety days. 1.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Charter Communications

Several hedge funds have recently made changes to their positions in CHTR. Cassaday & Co Wealth Management LLC bought a new position in shares of Charter Communications in the 1st quarter worth about $25,000. Quarry LP raised its position in shares of Charter Communications by 153.2% in the 4th quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in shares of Charter Communications in the 4th quarter worth about $25,000. DV Equities LLC bought a new position in Charter Communications in the 4th quarter worth about $25,000. Finally, Geneos Wealth Management Inc. boosted its stake in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after purchasing an additional 55 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

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.