Morgan Stanley Cuts Charter Communications (NASDAQ:CHTR) Price Target to $140.00

Charter Communications (NASDAQ:CHTR) had its target price lowered by equities researchers at Morgan Stanley from $150.00 to $140.00 in a report issued on Friday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target suggests a potential upside of 23.99% from the company’s current price.

A number of other research analysts also recently commented on the stock. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $150.00 price target on shares of Charter Communications in a report on Monday, July 27th. The Goldman Sachs Group lowered their target price on shares of Charter Communications from $185.00 to $125.00 and set a “sell” rating for the company in a report on Thursday, July 2nd. Wolfe Research restated an “underperform” rating and set a $118.00 target price on shares of Charter Communications in a research report on Monday, September 14th. Barclays reduced their price target on Charter Communications from $130.00 to $115.00 and set an “underweight” rating on the stock in a report on Monday, July 27th. Finally, Benchmark reiterated a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and a consensus price target of $215.17.

Charter Communications Price Performance

NASDAQ:CHTR opened at $112.91 on Friday. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 4.32. The business’s 50-day simple moving average is $142.48 and its two-hundred day simple moving average is $161.32. The stock has a market cap of $13.47 billion, a PE ratio of 2.93, a P/E/G ratio of 0.25 and a beta of 0.69. Charter Communications has a 52 week low of $111.55 and a 52 week high of $285.82.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a return on equity of 23.71% and a net margin of 9.05%.The company had revenue of $13.53 billion for the quarter, compared to analysts’ expectations of $13.51 billion. During the same period in the previous year, the firm earned $9.18 EPS. The firm’s revenue was down 1.7% compared to the same quarter last year. As a group, analysts forecast that Charter Communications will post 42.72 EPS for the current fiscal year.

Institutional Investors Weigh In On Charter Communications

A number of large investors have recently made changes to their positions in CHTR. Capital Research Global Investors lifted its stake in Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock valued at $1,005,222,000 after acquiring an additional 3,626,135 shares during the period. Norges Bank purchased a new stake in Charter Communications in the 4th quarter worth approximately $555,383,000. Bank of America Corp DE lifted its stake in shares of Charter Communications by 28.4% in the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company’s stock valued at $157,961,000 after purchasing an additional 161,888 shares during the period. State of Michigan Retirement System grew its position in Charter Communications by 1,547.4% during the first quarter. State of Michigan Retirement System now owns 431,582 shares of the company’s stock valued at $93,170,000 after buying an additional 405,385 shares during the period. Finally, Sei Investments Co. raised its position in shares of Charter Communications by 79.2% in the first quarter. Sei Investments Co. now owns 250,497 shares of the company’s stock worth $54,078,000 after acquiring an additional 110,684 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.

About Charter Communications

Charter Communications, Inc is a telecommunications and media company that operates under the Spectrum brand. Its primary business is providing broadband internet, video, mobile, and voice services to residential customers across the United States. Charter also offers communications and managed services to businesses, including internet access, data networking, phone, video, and fiber-based connectivity solutions.

The company’s consumer offerings include high-speed internet, traditional and streaming-enabled television services, mobile wireless plans, and home phone services.