Wells Fargo & Company Trims Charter Communications (NASDAQ:CHTR) Target Price to $393.00

Charter Communications (NASDAQ:CHTRGet Rating) had its target price reduced by equities research analysts at Wells Fargo & Company from $603.00 to $393.00 in a research report issued on Monday, The Fly reports. Wells Fargo & Company‘s price objective would indicate a potential downside of 8.28% from the company’s previous close.

Several other analysts have also recently issued reports on the stock. Loop Capital reduced their price target on shares of Charter Communications from $730.00 to $615.00 in a research report on Wednesday, January 26th. Truist Financial cut shares of Charter Communications from a “buy” rating to a “hold” rating and reduced their price target for the stock from $830.00 to $600.00 in a research report on Tuesday, March 1st. BNP Paribas cut shares of Charter Communications from an “outperform” rating to a “neutral” rating in a research report on Tuesday, January 18th. Benchmark reduced their target price on shares of Charter Communications from $825.00 to $805.00 and set a “buy” rating on the stock in a report on Monday. Finally, TD Securities raised their target price on shares of Charter Communications from $805.00 to $815.00 and gave the company a “buy” rating in a report on Monday, January 31st. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of “Hold” and a consensus target price of $703.20.

Shares of CHTR stock opened at $428.49 on Monday. The company has a debt-to-equity ratio of 4.88, a current ratio of 0.29 and a quick ratio of 0.29. The firm has a market cap of $74.02 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.46 and a beta of 0.94. The company has a 50-day moving average of $553.75 and a two-hundred day moving average of $612.89. Charter Communications has a 1-year low of $415.01 and a 1-year high of $825.62.

Charter Communications (NASDAQ:CHTRGet Rating) last announced its earnings results on Friday, April 29th. The company reported $6.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $6.51 by $0.39. The company had revenue of $13.20 billion during the quarter, compared to analyst estimates of $13.21 billion. Charter Communications had a net margin of 9.01% and a return on equity of 20.47%. Charter Communications’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the firm posted $4.11 earnings per share. Sell-side analysts anticipate that Charter Communications will post 29.88 EPS for the current fiscal year.

In other Charter Communications news, COO Christopher L. Winfrey purchased 2,750 shares of the stock in a transaction on Tuesday, February 1st. The stock was bought at an average price of $591.96 per share, for a total transaction of $1,627,890.00. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.96% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Cranbrook Wealth Management LLC grew its holdings in shares of Charter Communications by 35.7% during the 3rd quarter. Cranbrook Wealth Management LLC now owns 57 shares of the company’s stock worth $41,000 after purchasing an additional 15 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Charter Communications by 1.1% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 1,452 shares of the company’s stock worth $1,056,000 after purchasing an additional 16 shares during the period. Checchi Capital Advisers LLC grew its holdings in shares of Charter Communications by 1.0% during the 3rd quarter. Checchi Capital Advisers LLC now owns 1,781 shares of the company’s stock worth $1,296,000 after purchasing an additional 18 shares during the period. Rosenberg Matthew Hamilton grew its holdings in shares of Charter Communications by 8.2% during the 4th quarter. Rosenberg Matthew Hamilton now owns 237 shares of the company’s stock worth $155,000 after purchasing an additional 18 shares during the period. Finally, Private Trust Co. NA grew its holdings in shares of Charter Communications by 4.4% during the 1st quarter. Private Trust Co. NA now owns 448 shares of the company’s stock worth $244,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 83.63% of the company’s stock.

Charter Communications Company Profile (Get Rating)

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based video services, including video on demand, high-definition television, digital video recorder, pay-per-view services.

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