Barclays Issues Pessimistic Forecast for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective reduced by equities research analysts at Barclays from $130.00 to $115.00 in a report released on Monday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 6.74% from the stock’s current price.

CHTR has been the subject of several other research reports. Citigroup lowered their price target on shares of Charter Communications from $230.00 to $190.00 and set a “buy” rating for the company in a research report on Monday, June 29th. Benchmark reissued a “buy” rating on shares of Charter Communications in a research note on Wednesday. Sanford C. Bernstein restated a “market perform” rating and issued a $210.00 target price on shares of Charter Communications in a research report on Tuesday, May 26th. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. cut their price target on Charter Communications from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Monday, July 20th. 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 currently has an average rating of “Reduce” and a consensus target price of $248.19.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $123.31 on Monday. Charter Communications has a 12-month low of $111.55 and a 12-month high of $335.52. The firm has a market capitalization of $15.17 billion, a P/E ratio of 3.20, a P/E/G ratio of 0.23 and a beta of 0.71. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.40. The business has a 50 day simple moving average of $136.02 and a 200 day simple moving average of $183.82.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The firm had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. During the same period in the prior year, the business earned $9.18 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. Equities research analysts predict that Charter Communications will post 41.29 EPS for the current year.

Insider Transactions at Charter Communications

In related news, Director Wade Davis bought 5,728 shares of the stock in a transaction on Tuesday, April 28th. The shares were purchased at an average price of $173.72 per share, with a total value of $995,068.16. Following the purchase, the director owned 6,925 shares in the company, valued at approximately $1,203,011. This represents a 478.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mauricio Ramos purchased 9,929 shares of Charter Communications stock in a transaction dated Friday, May 15th. The stock was bought at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the purchase, the director 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 disclosure for this purchase is available in the SEC filing. Insiders have purchased a total of 20,125 shares of company stock worth $3,167,116 over the last ninety days. Insiders own 1.10% of the company’s stock.

Institutional Trading of Charter Communications

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