Charter Communications (NASDAQ:CHTR) Given New $180.00 Price Target at Citigroup

Charter Communications (NASDAQ:CHTR) had its target price cut by equities researchers at Citigroup from $190.00 to $180.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target would suggest a potential upside of 29.34% from the stock’s previous close.

CHTR has been the subject of a number of other research reports. Barclays lowered their price target on Charter Communications from $130.00 to $115.00 and set an “underweight” rating for the company in a research report on Monday. Benchmark restated a “buy” rating on shares of Charter Communications in a research note on Wednesday, July 22nd. Zacks Research downgraded Charter Communications from a “hold” rating to a “strong sell” rating in a report on Monday, July 6th. JPMorgan Chase & Co. dropped their target price on Charter Communications from $215.00 to $200.00 and set a “neutral” rating on the stock in a research report on Monday, July 20th. Finally, UBS Group cut their price target on shares of Charter Communications from $235.00 to $140.00 and set a “neutral” rating on the stock in a report on Monday. Five analysts have rated the stock with a Buy rating, eight have given a Hold rating and six have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Reduce” and a consensus target price of $230.00.

Charter Communications Stock Performance

Shares of NASDAQ CHTR traded up $7.56 during midday trading on Tuesday, reaching $139.17. The company had a trading volume of 1,596,582 shares, compared to its average volume of 2,748,805. Charter Communications has a 1 year low of $111.55 and a 1 year high of $298.21. The business’s 50-day simple moving average is $135.83 and its 200 day simple moving average is $183.27. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32. The stock has a market cap of $17.12 billion, a P/E ratio of 3.61, a P/E/G ratio of 0.23 and a beta of 0.71.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts’ consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm had revenue of $13.53 billion for the quarter, compared to analyst estimates of $13.51 billion. During the same period in the previous year, the company earned $9.18 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, analysts forecast that Charter Communications will post 41.29 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Mauricio Ramos purchased 9,929 shares of the firm’s stock in a transaction on Friday, May 15th. The stock was bought at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the acquisition, the director owned 19,309 shares of the company’s stock, valued at $2,721,217.37. The trade was a 105.85% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Thomas Rutledge sold 18,200 shares of the stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the sale, the director directly owned 3,968 shares in the company, valued at $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.10% of the stock is owned by company insiders.

Institutional Trading of Charter Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors raised its stake in shares of Charter Communications by 304.9% during the 4th quarter. Capital Research Global Investors now owns 4,815,422 shares of the company’s stock worth $1,005,222,000 after buying an additional 3,626,135 shares during the period. Dodge & Cox grew its stake in Charter Communications by 23.7% in the 4th quarter. Dodge & Cox now owns 14,609,220 shares of the company’s stock valued at $3,049,675,000 after acquiring an additional 2,801,671 shares during the period. Norges Bank acquired a new stake in Charter Communications in the 4th quarter valued at $555,383,000. Voyager Global Management LP increased its holdings in Charter Communications by 1,380.0% in the 4th quarter. Voyager Global Management LP now owns 1,850,000 shares of the company’s stock worth $386,188,000 after acquiring an additional 1,725,000 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its position in Charter Communications by 119.6% during the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock worth $619,885,000 after acquiring an additional 1,617,148 shares during the period. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

More Charter Communications News

Here are the key news stories impacting Charter Communications this week:

• Positive Sentiment: Brokerages’ consensus price target is $249.12, substantially above recent trading levels, indicating that analysts collectively see significant recovery potential despite near-term operational concerns. Charter Communications receives $249.12 consensus target price
• Positive Sentiment: A bullish investment case points to a stressed valuation, approximately $5 billion in trailing free cash flow, a high free-cash-flow yield, share repurchases and potential deleveraging. Mobile subscriber growth and network modernization could also support longer-term results. Charter Communications: Keep Adding On The Way Down

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.