JPMorgan Chase & Co. Cuts Charter Communications (NASDAQ:CHTR) Price Target to $150.00

Charter Communications (NASDAQ:CHTR) had its target price reduced by JPMorgan Chase & Co. from $200.00 to $150.00 in a report published on Wednesday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other analysts have also commented on CHTR. Royal Bank Of Canada decreased their target price on Charter Communications from $160.00 to $150.00 and set a “sector perform” rating for the company in a research report on Monday, July 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a research report on Wednesday, June 24th. Wells Fargo & Company decreased their price target on Charter Communications from $160.00 to $101.00 and set an “underweight” rating for the company in a research report on Monday, July 27th. New Street Research decreased their price target on shares of Charter Communications from $328.00 to $302.00 and set a “buy” rating for the company in a research note on Wednesday, May 20th. Finally, Barclays lowered their price target on shares of Charter Communications from $130.00 to $115.00 and set an “underweight” rating on the stock in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat.com, Charter Communications presently has an average rating of “Reduce” and an average target price of $226.88.

Charter Communications Stock Performance

Shares of CHTR stock opened at $144.98 on Wednesday. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.40. Charter Communications has a one year low of $111.55 and a one year high of $285.82. The business’s 50 day simple moving average is $135.65 and its 200 day simple moving average is $181.61. The stock has a market capitalization of $17.29 billion, a PE ratio of 3.76, a PEG ratio of 0.24 and a beta of 0.71.

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

Insider Transactions at Charter Communications

In other Charter Communications news, Director Mauricio Ramos acquired 9,929 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were purchased at an average cost of $140.93 per share, for a total transaction of $1,399,293.97. Following the transaction, the director owned 19,309 shares in the company, valued at $2,721,217.37. This represents a 105.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of the company’s stock in a transaction that occurred on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the transaction, the director owned 3,968 shares in the company, valued at $583,057.92. This trade represents a 82.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Capital Research Global Investors boosted its holdings in shares of Charter Communications by 304.9% in the fourth quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after buying an additional 3,626,135 shares during the last quarter. Dodge & Cox grew its holdings in Charter Communications by 23.7% during the fourth quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after purchasing an additional 2,801,671 shares during the period. Norges Bank bought a new position in shares of Charter Communications during the 4th quarter valued at approximately $555,383,000. Voyager Global Management LP increased its holdings in Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after acquiring an additional 1,725,000 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in Charter Communications by 119.6% during the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after purchasing an additional 1,617,148 shares in the last quarter. 81.76% of the stock is owned by institutional investors.

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.