Sanford C. Bernstein Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price target cut by research analysts at Sanford C. Bernstein from $380.00 to $350.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Sanford C. Bernstein’s target price would indicate a potential upside of 32.62% from the stock’s current price.

CHTR has been the subject of several other research reports. UBS Group lowered their target price on shares of Charter Communications from $425.00 to $355.00 and set a “neutral” rating for the company in a research note on Monday, July 28th. Barclays lowered their price objective on shares of Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a research report on Monday, July 28th. Arete Research raised Charter Communications to a “strong sell” rating in a research report on Tuesday, July 8th. Wells Fargo & Company began coverage on Charter Communications in a research note on Thursday, August 21st. They set an “equal weight” rating and a $300.00 price target on the stock. Finally, Loop Capital raised Charter Communications from a “hold” rating to a “buy” rating and lifted their price objective for the company from $430.00 to $510.00 in a research note on Monday, May 19th. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat, Charter Communications currently has a consensus rating of “Hold” and a consensus price target of $392.94.

Charter Communications Stock Up 0.3%

Shares of NASDAQ CHTR opened at $263.92 on Wednesday. The company has a market capitalization of $36.05 billion, a P/E ratio of 7.23, a P/E/G ratio of 0.59 and a beta of 1.02. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. The company has a 50 day simple moving average of $306.10 and a 200-day simple moving average of $353.09. Charter Communications has a 1 year low of $251.80 and a 1 year high of $437.06.

Charter Communications (NASDAQ:CHTR) last posted its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period last year, the business earned $8.49 EPS. Charter Communications’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts predict that Charter Communications will post 38.16 earnings per share for the current year.

Insider Transactions at Charter Communications

In related news, CEO Christopher L. Winfrey acquired 3,670 shares of the stock in a transaction dated Thursday, July 31st. The stock was acquired at an average cost of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the transaction, the chief executive officer owned 70,243 shares in the company, valued at $19,183,363.30. This represents a 5.51% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Balan Nair bought 360 shares of Charter Communications stock in a transaction that occurred on Thursday, July 31st. The stock was purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the acquisition, the director owned 9,622 shares of the company’s stock, valued at $2,638,448.62. This represents a 3.89% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is owned by company insiders.

Hedge Funds Weigh In On Charter Communications

Hedge funds have recently added to or reduced their stakes in the stock. Makaira Partners LLC increased its position in Charter Communications by 4.0% during the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company’s stock worth $127,919,000 after buying an additional 14,510 shares during the period. Baird Financial Group Inc. increased its holdings in shares of Charter Communications by 7.1% in the 4th quarter. Baird Financial Group Inc. now owns 1,232 shares of the company’s stock valued at $422,000 after acquiring an additional 82 shares during the period. Captrust Financial Advisors boosted its stake in shares of Charter Communications by 40.2% during the fourth quarter. Captrust Financial Advisors now owns 1,739 shares of the company’s stock worth $596,000 after buying an additional 499 shares during the period. Focus Partners Wealth grew its holdings in shares of Charter Communications by 36.8% during the fourth quarter. Focus Partners Wealth now owns 2,126 shares of the company’s stock worth $729,000 after buying an additional 572 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp increased its position in Charter Communications by 20.1% in the 4th quarter. OMERS ADMINISTRATION Corp now owns 4,039 shares of the company’s stock valued at $1,384,000 after acquiring an additional 677 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

Charter Communications Company Profile

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 internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.