Sanford C. Bernstein Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective lowered by research analysts at Sanford C. Bernstein from $280.00 to $240.00 in a research note issued on Thursday,MarketScreener reports. The firm currently has a “market perform” rating on the stock. Sanford C. Bernstein’s price target points to a potential upside of 23.32% from the company’s previous close.

Other research analysts have also issued research reports about the stock. UBS Group cut their price target on shares of Charter Communications from $355.00 to $233.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. The Goldman Sachs Group cut their target price on shares of Charter Communications from $215.00 to $210.00 and set a “sell” rating on the stock in a research note on Thursday, December 18th. Benchmark decreased their price target on shares of Charter Communications from $475.00 to $425.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Deutsche Bank Aktiengesellschaft cut their price objective on Charter Communications from $325.00 to $275.00 and set a “hold” rating on the stock in a research report on Monday, November 3rd. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Charter Communications in a research report on Monday, November 3rd. Four research analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $314.88.

Charter Communications Trading Down 3.8%

Shares of CHTR traded down $7.73 during trading hours on Thursday, hitting $194.61. The stock had a trading volume of 2,113,924 shares, compared to its average volume of 1,751,844. Charter Communications has a 12-month low of $193.00 and a 12-month high of $437.06. The firm has a market cap of $25.18 billion, a P/E ratio of 5.40, a P/E/G ratio of 0.54 and a beta of 1.06. 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 company’s fifty day simple moving average is $205.77 and its 200 day simple moving average is $260.88.

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

Insider Buying and Selling at Charter Communications

In related news, Director David C. Merritt sold 1,200 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $226.18, for a total value of $271,416.00. Following the completion of the transaction, the director owned 10,146 shares of the company’s stock, valued at approximately $2,294,822.28. This represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 0.83% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Charter Communications

Several institutional investors and hedge funds have recently made changes to their positions in the business. Dodge & Cox boosted its holdings in shares of Charter Communications by 6.1% in the 3rd quarter. Dodge & Cox now owns 11,807,549 shares of the company’s stock valued at $3,248,316,000 after buying an additional 681,063 shares during the period. Vanguard Group Inc. lifted its holdings in Charter Communications by 13.7% in the third 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. State Street Corp lifted its holdings in Charter Communications by 22.7% in the third 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 last quarter. Norges Bank acquired a new position in Charter Communications in the second quarter valued at approximately $1,145,387,000. Finally, Geode Capital Management LLC grew its holdings in shares of Charter Communications by 1.6% during the second quarter. Geode Capital Management LLC now owns 2,595,167 shares of the company’s stock valued at $1,056,800,000 after purchasing an additional 41,206 shares during the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

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.