Royal Bank Of Canada Lowers Charter Communications (NASDAQ:CHTR) Price Target to $160.00

Charter Communications (NASDAQ:CHTR) had its price target cut by Royal Bank Of Canada from $220.00 to $160.00 in a report issued on Monday,Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would indicate a potential upside of 25.21% from the company’s previous close.

Several other research firms also recently weighed in on CHTR. New Street Research reduced their target price on Charter Communications from $328.00 to $302.00 and set a “buy” rating on the stock in a research report on Wednesday, May 20th. BNP Paribas Exane dropped their price objective on shares of Charter Communications from $150.00 to $120.00 and set an “underperform” rating for the company in a research note on Tuesday, July 14th. Zacks Research lowered shares of Charter Communications from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. Bank of America decreased their target price on shares of Charter Communications from $250.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 1st. Finally, Benchmark lowered their target price on shares of Charter Communications from $455.00 to $435.00 and set a “buy” rating for the company in a report on Thursday, April 23rd. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications currently has a consensus rating of “Reduce” and an average price target of $249.12.

Charter Communications Stock Down 1.1%

CHTR stock opened at $127.79 on Monday. The company has a 50 day moving average price of $137.07 and a two-hundred day moving average price of $185.58. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a market capitalization of $15.72 billion, a P/E ratio of 3.45, a PEG ratio of 0.23 and a beta of 0.71. Charter Communications has a one year low of $124.05 and a one year high of $402.15.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The business had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.56 billion. Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $8.42 EPS. As a group, sell-side analysts expect that Charter Communications will post 41.47 EPS for the current year.

Insider Activity at Charter Communications

In other news, Director Wade Davis bought 5,728 shares of the firm’s stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the acquisition, the director owned 6,925 shares of the company’s stock, valued at $1,203,011. This trade represents a 478.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Mauricio Ramos bought 9,929 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the transaction, the director owned 19,309 shares in the company, valued at approximately $2,721,217.37. This represents a 105.85% increase in their position. The SEC filing for this purchase provides additional information. Insiders acquired a total of 20,125 shares of company stock valued at $3,167,116 over the last three months. Insiders own 1.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CHTR. Geneos Wealth Management Inc. increased its position in shares of Charter Communications by 141.0% in the first quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after acquiring an additional 55 shares in the last quarter. Cassaday & Co Wealth Management LLC purchased a new stake in Charter Communications during the 1st quarter worth $25,000. Quarry LP boosted its position in Charter Communications by 153.2% during the 4th quarter. Quarry LP now owns 119 shares of the company’s stock worth $25,000 after purchasing an additional 72 shares during the period. Altshuler Shaham Ltd acquired a new stake in Charter Communications in the 4th quarter valued at $25,000. Finally, DV Equities LLC acquired a new stake in Charter Communications in the 4th quarter valued at $25,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Company Profile

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.