Charter Communications (NASDAQ:CHTR) Given New $160.00 Price Target at Royal Bank Of Canada

Charter Communications (NASDAQ:CHTR) had its price objective cut by Royal Bank Of Canada from $220.00 to $160.00 in a report issued on Monday,Benzinga reports. They currently have a sector perform rating on the stock.

A number of other equities research analysts have also recently issued reports on CHTR. The Goldman Sachs Group decreased their price objective on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a report on Thursday, July 2nd. JPMorgan Chase & Co. cut their target price on Charter Communications from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft reduced their price target on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Benchmark decreased their price target on Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Finally, Wells Fargo & Company lowered their price objective on Charter Communications from $170.00 to $160.00 and set an “underweight” rating on the stock in a report on Tuesday, July 7th. Five research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $249.12.

Charter Communications Price Performance

Shares of CHTR opened at $129.16 on Monday. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $15.89 billion, a PE ratio of 3.49, a PEG ratio of 0.24 and a beta of 0.71. The firm’s 50 day moving average price is $137.47 and its 200 day moving average price is $186.15. Charter Communications has a twelve month low of $124.05 and a twelve month high of $402.15.

Charter Communications (NASDAQ:CHTR) last posted 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 business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. During the same period in the prior year, the firm earned $8.42 earnings per share. The business’s revenue was down 1.0% on a year-over-year basis. As a group, research analysts expect that Charter Communications will post 41.47 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Christopher L. Winfrey purchased 3,468 shares of the firm’s stock in a transaction on Tuesday, April 28th. The stock was bought at an average cost of $172.23 per share, for a total transaction of $597,293.64. Following the completion of the acquisition, the chief executive officer directly owned 74,409 shares of the company’s stock, valued at approximately $12,815,462.07. The trade was a 4.89% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Rutledge sold 69,633 shares of the firm’s stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director directly owned 3,968 shares in the company, valued at approximately $573,177.60. This represents a 94.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders acquired a total of 20,125 shares of company stock worth $3,167,116 in the last ninety days. 1.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Charter Communications

Several large investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its holdings in shares of Charter Communications by 129.1% during the first quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock worth $4,356,000 after buying an additional 6,691 shares during the last quarter. Integrated Wealth Concepts LLC grew its stake in shares of Charter Communications by 16.3% in the first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after acquiring an additional 128 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Charter Communications by 48.1% in the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock worth $493,000 after acquiring an additional 435 shares during the last quarter. Geneos Wealth Management Inc. increased its position in Charter Communications by 141.0% during the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after acquiring an additional 55 shares during the period. Finally, Acadian Asset Management LLC increased its position in Charter Communications by 451.1% during the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 81.76% of the company’s stock.

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.