Citigroup Lowers Charter Communications (NASDAQ:CHTR) Price Target to $310.00

Charter Communications (NASDAQ:CHTR) had its price target reduced by Citigroup from $325.00 to $310.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 39.45% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Royal Bank Of Canada lowered their price objective on shares of Charter Communications from $325.00 to $265.00 and set a “sector perform” rating for the company in a research report on Monday. Sanford C. Bernstein restated a “market perform” rating and issued a $280.00 target price (down from $350.00) on shares of Charter Communications in a research note on Monday. Barclays dropped their price target on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating on the stock in a research note on Monday. Wells Fargo & Company decreased their price objective on shares of Charter Communications from $300.00 to $240.00 and set an “equal weight” rating for the company in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their target price on Charter Communications from $370.00 to $325.00 and set a “hold” rating on the stock in a research report on Monday, October 6th. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $355.76.

Charter Communications Trading Down 4.9%

Shares of CHTR stock traded down $11.54 during mid-day trading on Monday, reaching $222.30. The company’s stock had a trading volume of 2,245,363 shares, compared to its average volume of 1,622,444. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. The firm has a market capitalization of $30.36 billion, a PE ratio of 6.09, a price-to-earnings-growth ratio of 0.55 and a beta of 1.05. The company’s 50 day simple moving average is $261.86 and its 200-day simple moving average is $328.50. Charter Communications has a 12-month low of $214.83 and a 12-month high of $437.06.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.32). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The company had revenue of $13.67 billion during the quarter, compared to analysts’ expectations of $13.76 billion. During the same period last year, the business earned $8.82 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. On average, research analysts predict that Charter Communications will post 38.16 EPS for the current fiscal year.

Institutional Trading of Charter Communications

Several institutional investors have recently added to or reduced their stakes in the business. Norges Bank bought a new stake in shares of Charter Communications in the 2nd quarter worth approximately $1,145,387,000. JPMorgan Chase & Co. grew its stake in Charter Communications by 53.6% during the 1st quarter. JPMorgan Chase & Co. now owns 2,310,073 shares of the company’s stock worth $851,331,000 after buying an additional 806,145 shares during the last quarter. Allianz Asset Management GmbH increased its position in Charter Communications by 48.8% in the second quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company’s stock worth $304,674,000 after buying an additional 244,324 shares during the period. Lind Value II ApS bought a new stake in Charter Communications in the third quarter valued at $60,646,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Charter Communications by 15.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,575,818 shares of the company’s stock valued at $644,210,000 after acquiring an additional 209,869 shares during the period. Institutional investors own 81.76% of the company’s stock.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.