Charter Communications (NASDAQ:CHTR) Stock Price Target Lowered at The Goldman Sachs Group

Charter Communications (NASDAQ:CHTR) had its target price cut by The Goldman Sachs Group from $120.00 to $110.00 in a research report sent to investors on Friday morning. They currently have a sell rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. BNP Paribas Exane dropped their target price on Charter Communications from $150.00 to $120.00 and set an “underperform” rating on the stock in a research report on Tuesday, July 14th. UBS Group reduced their price target on Charter Communications from $235.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, July 27th. JPMorgan Chase & Co. dropped their price objective on Charter Communications from $200.00 to $150.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Zacks Research upgraded Charter Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 4th. Finally, TD Cowen lowered their price target on shares of Charter Communications from $413.00 to $380.00 and set a “buy” rating on the stock in a report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $215.17.

Charter Communications Stock Down 3.9%

CHTR stock opened at $112.91 on Friday. The stock has a fifty day moving average of $142.48 and a 200-day moving average of $161.32. Charter Communications has a fifty-two week low of $111.55 and a fifty-two week high of $285.82. The company has a market capitalization of $13.47 billion, a price-to-earnings ratio of 2.93, a PEG ratio of 0.25 and a beta of 0.69. The company has a debt-to-equity ratio of 4.32, a quick ratio of 0.36 and a current ratio of 0.36.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in CHTR. Capital Research Global Investors raised its position in Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after purchasing an additional 3,626,135 shares during the last quarter. Norges Bank bought a new stake in Charter Communications in the fourth quarter valued at $555,383,000. Bank of America Corp DE increased its position in Charter Communications by 28.4% during the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after purchasing an additional 161,888 shares during the period. State of Michigan Retirement System raised its holdings in Charter Communications by 1,547.4% in the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock worth $93,170,000 after purchasing an additional 405,385 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Charter Communications by 79.2% during the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock valued at $54,078,000 after purchasing an additional 110,684 shares in the last quarter. Institutional investors own 81.76% of the company’s stock.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.