Citigroup Trims Charter Communications (CHTR) Target Price to $370.00

Charter Communications (NASDAQ:CHTR) had its target price cut by Citigroup from $375.00 to $370.00 in a research report released on Thursday morning. They currently have a buy rating on the stock.

A number of other analysts have also recently commented on the company. Barclays set a $259.00 price target on Charter Communications and gave the company a sell rating in a research note on Wednesday, October 10th. Macquarie reaffirmed a buy rating and issued a $355.00 price target on shares of Charter Communications in a research note on Wednesday, September 12th. ValuEngine cut Charter Communications from a hold rating to a sell rating in a research note on Thursday, July 19th. Zacks Investment Research cut Charter Communications from a hold rating to a sell rating in a research note on Tuesday, October 9th. Finally, BidaskClub raised Charter Communications from a sell rating to a hold rating in a research note on Wednesday, September 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $360.13.

NASDAQ:CHTR traded down $6.71 on Thursday, hitting $317.87. 1,369,562 shares of the stock were exchanged, compared to its average volume of 1,583,249. The stock has a market capitalization of $73.70 billion, a P/E ratio of 119.95, a P/E/G ratio of 1.62 and a beta of 1.15. Charter Communications has a 52 week low of $250.10 and a 52 week high of $396.64. The company has a current ratio of 0.23, a quick ratio of 0.20 and a debt-to-equity ratio of 1.53.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, October 26th. The company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.05 by $1.06. The company had revenue of $10.89 billion during the quarter, compared to analysts’ expectations of $10.93 billion. Charter Communications had a return on equity of 2.39% and a net margin of 24.39%. Charter Communications’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. As a group, equities analysts predict that Charter Communications will post 5.17 EPS for the current year.

In related news, insider John Bickham sold 144,672 shares of the stock in a transaction that occurred on Wednesday, October 31st. The stock was sold at an average price of $322.71, for a total transaction of $46,687,101.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.83% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of CHTR. Veritas Asset Management LLP increased its stake in Charter Communications by 65.3% during the 2nd quarter. Veritas Asset Management LLP now owns 4,434,781 shares of the company’s stock worth $1,300,322,000 after purchasing an additional 1,752,400 shares in the last quarter. LFA Lugano Financial Advisors SA bought a new stake in Charter Communications during the 2nd quarter worth approximately $321,000. Putnam Investments LLC increased its stake in Charter Communications by 23.7% during the 2nd quarter. Putnam Investments LLC now owns 1,241,872 shares of the company’s stock worth $364,129,000 after purchasing an additional 237,673 shares in the last quarter. Triple Frond Partners LLC increased its stake in Charter Communications by 33.7% during the 2nd quarter. Triple Frond Partners LLC now owns 620,029 shares of the company’s stock worth $181,799,000 after purchasing an additional 156,244 shares in the last quarter. Finally, Vantage Investment Partners LLC bought a new stake in Charter Communications during the 2nd quarter worth approximately $39,436,000. 71.16% of the stock is owned by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.

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Analyst Recommendations for Charter Communications (NASDAQ:CHTR)

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