New Street Research Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective cut by stock analysts at New Street Research from $479.00 to $328.00 in a report issued on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. New Street Research’s price target indicates a potential upside of 41.91% from the stock’s current price.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group lowered their price objective on shares of Charter Communications from $210.00 to $185.00 and set a “sell” rating on the stock in a research note on Monday, February 2nd. TD Cowen raised their price target on shares of Charter Communications from $428.00 to $437.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Wells Fargo & Company lifted their price objective on Charter Communications from $180.00 to $200.00 and gave the company an “underweight” rating in a report on Monday, February 2nd. Benchmark lifted their target price on shares of Charter Communications from $425.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, January 29th. Finally, Williams Trading set a $437.00 price target on Charter Communications in a report on Monday. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $335.67.

Charter Communications Stock Up 3.4%

CHTR opened at $231.14 on Thursday. Charter Communications has a twelve month low of $180.38 and a twelve month high of $437.06. The firm has a market cap of $29.91 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 0.35 and a beta of 1.05. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.37 and a current ratio of 0.39. The business has a 50 day moving average price of $204.20 and a 200 day moving average price of $238.14.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.40 by ($0.06). The firm had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.Charter Communications’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $10.10 earnings per share. Research analysts forecast that Charter Communications will post 38.16 EPS for the current year.

Hedge Funds Weigh In On Charter Communications

Several institutional investors and hedge funds have recently modified their holdings of CHTR. Atlantic Union Bankshares Corp acquired a new position in Charter Communications in the 2nd quarter worth $25,000. Ameritas Advisory Services LLC acquired a new stake in Charter Communications in the second quarter valued at $28,000. Webster Bank N. A. bought a new position in shares of Charter Communications in the 3rd quarter valued at about $28,000. Heritage Wealth Advisors acquired a new position in shares of Charter Communications during the 2nd quarter worth about $29,000. Finally, Steigerwald Gordon & Koch Inc. bought a new stake in shares of Charter Communications in the 3rd quarter valued at about $30,000. 81.76% of the stock is currently owned by institutional investors and hedge funds.

About Charter Communications

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.