New Street Research Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective cut by research analysts at New Street Research from $328.00 to $302.00 in a report issued on Wednesday,MarketScreener reports. The firm presently has a “buy” rating on the stock. New Street Research’s price objective indicates a potential upside of 109.19% from the stock’s current price.

CHTR has been the subject of several other reports. Royal Bank Of Canada reduced their price target on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a research report on Monday, April 27th. KeyCorp reiterated a “sector weight” rating on shares of Charter Communications in a research note on Monday, January 26th. UBS Group set a $425.00 price target on shares of Charter Communications in a research report on Thursday, January 29th. BNP Paribas Exane lowered their price target on shares of Charter Communications from $160.00 to $150.00 and set an “underperform” rating on the stock in a report on Tuesday, February 24th. Finally, Benchmark reduced their price objective on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a research note on Thursday, April 23rd. Five equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Charter Communications presently has an average rating of “Reduce” and a consensus price target of $290.38.

Charter Communications Stock Up 1.3%

Shares of NASDAQ CHTR traded up $1.87 during midday trading on Wednesday, reaching $144.37. 584,950 shares of the company’s stock traded hands, compared to its average volume of 2,403,680. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 4.56. The stock’s 50 day simple moving average is $201.26 and its 200-day simple moving average is $208.19. Charter Communications has a one year low of $136.63 and a one year high of $424.25. The company has a market cap of $17.76 billion, a price-to-earnings ratio of 3.88, a P/E/G ratio of 0.24 and a beta of 0.76.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period last year, the firm earned $8.42 EPS. On average, analysts predict that Charter Communications will post 43 EPS for the current fiscal year.

Insiders Place Their Bets

In other Charter Communications 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 purchase, the chief executive officer owned 74,409 shares in the company, valued at $12,815,462.07. This represents a 4.89% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wade Davis purchased 5,728 shares of the stock in a transaction on Tuesday, April 28th. The stock was acquired at an average cost of $173.72 per share, with a total value of $995,068.16. Following the acquisition, the director owned 6,925 shares of the company’s stock, valued at approximately $1,203,011. This represents a 478.53% increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have purchased 20,125 shares of company stock valued at $3,167,116. 1.10% of the stock is owned by corporate insiders.

Institutional Trading of Charter Communications

Large investors have recently bought and sold shares of the stock. Gateway Investment Advisers LLC acquired a new stake in Charter Communications during the 4th quarter worth about $5,911,000. 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 valued at $619,885,000 after purchasing an additional 1,617,148 shares during the period. Optimize Financial Inc acquired a new position in shares of Charter Communications in the third quarter valued at about $1,557,000. Swiss Life Asset Management Ltd raised its stake in shares of Charter Communications by 110.7% in the fourth quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company’s stock worth $6,521,000 after purchasing an additional 16,415 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Charter Communications by 245.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 14,717 shares of the company’s stock worth $4,069,000 after purchasing an additional 10,455 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.