Charter Communications (NASDAQ:CHTR) Price Target Lowered to $101.00 at Wells Fargo & Company

Charter Communications (NASDAQ:CHTR) had its price objective reduced by stock analysts at Wells Fargo & Company from $160.00 to $101.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential downside of 18.36% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Freedom Capital raised shares of Charter Communications to a “hold” rating in a research report on Friday, June 12th. New Street Research dropped their price objective on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a report on Wednesday, May 20th. JPMorgan Chase & Co. cut their price objective on shares of Charter Communications from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. The Goldman Sachs Group reduced their target price on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a research note on Thursday, July 2nd. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Five equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $240.75.

Charter Communications Stock Up 0.3%

CHTR stock opened at $123.71 on Monday. The stock has a market capitalization of $15.22 billion, a price-to-earnings ratio of 3.21, a price-to-earnings-growth ratio of 0.23 and a beta of 0.71. The company has a 50-day moving average of $136.02 and a two-hundred day moving average of $183.82. Charter Communications has a 52-week low of $111.55 and a 52-week high of $309.40. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.40.

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

Insider Activity at Charter Communications

In related news, Director Wade Davis purchased 5,728 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $173.72 per share, with a total value of $995,068.16. Following the purchase, the director directly owned 6,925 shares in the company, valued at $1,203,011. This represents a 478.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mauricio Ramos purchased 9,929 shares of the stock in a transaction on Friday, May 15th. The stock was bought at an average price of $140.93 per share, for a total transaction of $1,399,293.97. Following the completion of the transaction, the director directly owned 19,309 shares of the company’s stock, valued at approximately $2,721,217.37. This trade represents 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 ninety days, insiders acquired 20,125 shares of company stock valued at $3,167,116. Corporate insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Charter Communications

Hedge funds have recently made changes to their positions in the company. Tema ETFs LLC boosted its position in Charter Communications by 8.3% in the second quarter. Tema ETFs LLC now owns 1,889 shares of the company’s stock valued at $269,000 after buying an additional 145 shares in the last quarter. Polianta Ltd acquired a new stake in shares of Charter Communications during the second quarter worth approximately $1,777,000. Czech National Bank raised its stake in shares of Charter Communications by 1.5% in the second quarter. Czech National Bank now owns 23,804 shares of the company’s stock valued at $3,385,000 after acquiring an additional 352 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Charter Communications by 61.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 77,213 shares of the company’s stock worth $10,980,000 after acquiring an additional 29,242 shares in the last quarter. Finally, Central Pacific Bank Trust Division boosted its holdings in shares of Charter Communications by 3.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,383 shares of the company’s stock worth $766,000 after acquiring an additional 156 shares in 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.