JPMorgan Chase & Co. Cuts Charter Communications (NASDAQ:CHTR) Price Target to $200.00

Charter Communications (NASDAQ:CHTR) had its price objective cut by analysts at JPMorgan Chase & Co. from $215.00 to $200.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 54.12% from the company’s current price.

Several other equities research analysts have also issued reports on CHTR. Zacks Research lowered shares of Charter Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, July 6th. Bank of America lowered their price target on shares of Charter Communications from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Citigroup dropped their price target on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating on the stock in a research note on Monday, June 29th. UBS Group reiterated a “neutral” rating and issued a $235.00 price objective on shares of Charter Communications in a research note on Thursday, June 25th. Finally, Freedom Capital raised Charter Communications to a “hold” rating in a report on Friday, June 12th. Five equities 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. According to MarketBeat, Charter Communications presently has an average rating of “Reduce” and an average target price of $252.88.

Charter Communications Stock Performance

Shares of CHTR stock traded down $1.60 during trading on Monday, hitting $129.77. The company’s stock had a trading volume of 570,636 shares, compared to its average volume of 2,666,937. The company has a market cap of $15.96 billion, a PE ratio of 3.52, a P/E/G ratio of 0.24 and a beta of 0.71. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 4.56. The business has a fifty day moving average of $137.85 and a 200-day moving average of $186.71. Charter Communications has a 52 week low of $124.05 and a 52 week high of $402.15.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter last year, the business posted $8.42 earnings per share. The business’s revenue was down 1.0% compared to the same quarter last year. As a group, research analysts anticipate that Charter Communications will post 41.47 earnings per share for the current year.

Insider Activity

In other news, Director Mauricio Ramos purchased 9,929 shares of the company’s stock in a transaction on Friday, May 15th. The stock was purchased at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the purchase, the director directly owned 19,309 shares in the company, valued at approximately $2,721,217.37. This trade represents a 105.85% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Wade Davis acquired 5,728 shares of the business’s stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $173.72 per share, with a total value of $995,068.16. Following the completion of the acquisition, the director directly owned 6,925 shares in the company, valued at approximately $1,203,011. This represents a 478.53% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have purchased 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is owned by insiders.

Institutional Trading of Charter Communications

Several hedge funds and other institutional investors have recently bought and sold shares of CHTR. Capital Research Global Investors lifted its stake in 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 purchasing an additional 3,626,135 shares during the last quarter. Dodge & Cox grew its stake in shares of 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 buying an additional 2,801,671 shares during the last quarter. Norges Bank bought a new position in shares of Charter Communications during the fourth quarter valued at about $555,383,000. Voyager Global Management LP increased its holdings in shares of Charter Communications by 1,380.0% in the fourth quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after buying an additional 1,725,000 shares during the period. Finally, First Eagle Investment Management LLC increased its holdings in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after buying an additional 1,617,148 shares during the period. Hedge funds and other institutional investors 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.