Royal Bank Of Canada Cuts Charter Communications (NASDAQ:CHTR) Price Target to $240.00

Charter Communications (NASDAQ:CHTR) had its price objective reduced by Royal Bank Of Canada from $265.00 to $240.00 in a research report released on Friday,MarketScreener reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft lowered their price target on Charter Communications from $325.00 to $275.00 and set a “hold” rating for the company in a report on Monday, November 3rd. The Goldman Sachs Group lowered their target price on Charter Communications from $215.00 to $210.00 and set a “sell” rating for the company in a research note on Thursday, December 18th. BNP Paribas Exane cut their price target on shares of Charter Communications from $255.00 to $200.00 and set an “underperform” rating on the stock in a research note on Tuesday, November 4th. Wells Fargo & Company reissued an “underweight” rating and set a $180.00 price objective (down previously from $240.00) on shares of Charter Communications in a research report on Tuesday, January 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Charter Communications in a research report on Monday, December 29th. Four equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and seven have issued a Sell rating to the stock. According to data from MarketBeat.com, Charter Communications has a consensus rating of “Reduce” and an average target price of $313.31.

Charter Communications Trading Down 2.5%

CHTR opened at $189.76 on Friday. The firm’s fifty day moving average is $204.71 and its two-hundred day moving average is $256.70. The company has a debt-to-equity ratio of 4.89, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market cap of $24.56 billion, a PE ratio of 5.27, a price-to-earnings-growth ratio of 0.51 and a beta of 1.06. Charter Communications has a twelve month low of $187.85 and a twelve month high of $437.06.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, October 31st. The company reported $8.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.32). The firm had revenue of $13.67 billion during the quarter, compared to analyst estimates of $13.76 billion. Charter Communications had a net margin of 9.29% and a return on equity of 25.55%. Charter Communications’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $8.82 EPS. Equities research analysts anticipate that Charter Communications will post 38.16 EPS for the current year.

Insiders Place Their Bets

In other Charter Communications news, Director David C. Merritt sold 1,200 shares of Charter Communications stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $226.18, for a total value of $271,416.00. Following the sale, the director directly owned 10,146 shares in the company, valued at approximately $2,294,822.28. The trade was a 10.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.83% of the company’s stock.

Hedge Funds Weigh In On Charter Communications

Several hedge funds have recently modified their holdings of the stock. Norges Bank acquired a new position in Charter Communications during the second quarter worth approximately $1,145,387,000. State Street Corp boosted its stake in shares of Charter Communications by 22.7% during the 3rd quarter. State Street Corp now owns 7,961,695 shares of the company’s stock worth $2,190,302,000 after acquiring an additional 1,475,383 shares during the period. Capital Research Global Investors acquired a new position in shares of Charter Communications during the 3rd quarter worth approximately $327,179,000. Vanguard Group Inc. increased its holdings in shares of Charter Communications by 13.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,362,352 shares of the company’s stock worth $2,575,630,000 after acquiring an additional 1,130,648 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Charter Communications by 826.1% in the 3rd quarter. AQR Capital Management LLC now owns 1,244,034 shares of the company’s stock valued at $342,240,000 after acquiring an additional 1,109,703 shares during the period. 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.