Citigroup Cuts Charter Communications (NASDAQ:CHTR) Price Target to $180.00

Charter Communications (NASDAQ:CHTR) had its price target cut by Citigroup from $190.00 to $180.00 in a research report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Charter Communications in a report on Wednesday, June 24th. Zacks Research lowered shares of Charter Communications from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. TD Cowen reduced their price target on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a research report on Monday. Barclays decreased their price objective on shares of Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a research note on Monday. Finally, New Street Research dropped their price objective on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research report on Wednesday, May 20th. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Reduce” and an average price target of $226.88.

Charter Communications Price Performance

Shares of Charter Communications stock opened at $142.00 on Tuesday. The business’s fifty day moving average price is $135.66 and its 200 day moving average price is $181.86. Charter Communications has a twelve month low of $111.55 and a twelve month high of $285.82. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32. The stock has a market capitalization of $17.46 billion, a P/E ratio of 3.69, a PEG ratio of 0.24 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping the consensus estimate of $9.98 by $0.68. The company had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $9.18 earnings per share. As a group, research analysts anticipate that Charter Communications will post 42.72 earnings per share for the current year.

Insiders Place Their Bets

In other Charter Communications news, Director Thomas Rutledge sold 69,633 shares of the business’s stock in a transaction on 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 transaction, the director owned 3,968 shares in the company, valued at $573,177.60. The trade was a 94.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mauricio Ramos acquired 9,929 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was purchased at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the transaction, the director owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CHTR. AQR Capital Management LLC raised its position in shares of Charter Communications by 129.1% in the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company’s stock valued at $4,356,000 after purchasing an additional 6,691 shares in the last quarter. Integrated Wealth Concepts LLC grew its position in shares of Charter Communications by 16.3% during the first quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company’s stock worth $336,000 after buying an additional 128 shares in the last quarter. Jones Financial Companies Lllp grew its position in shares of Charter Communications by 48.1% during the first quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company’s stock worth $493,000 after buying an additional 435 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after buying an additional 55 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Charter Communications by 451.1% in the first quarter. Acadian Asset Management LLC now owns 733 shares of the company’s stock worth $270,000 after buying an additional 600 shares during the last quarter. Hedge funds and other institutional investors 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.