Bank of America Issues Pessimistic Forecast for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective dropped by Bank of America from $250.00 to $200.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Bank of America‘s price objective indicates a potential upside of 40.64% from the stock’s previous close.

CHTR has been the subject of a number of other research reports. Royal Bank Of Canada reduced their price target on Charter Communications from $250.00 to $220.00 and set a “sector perform” rating for the company in a report on Monday, April 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Charter Communications in a research note on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research report on Monday, April 27th. Freedom Capital raised Charter Communications to a “hold” rating in a report on Friday, June 12th. Finally, Sanford C. Bernstein restated a “market perform” rating and issued a $210.00 price target on shares of Charter Communications in a research note on Tuesday, May 26th. Five equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $266.31.

Charter Communications Stock Performance

Shares of CHTR stock opened at $142.21 on Wednesday. The stock has a market cap of $17.49 billion, a P/E ratio of 3.84, a P/E/G ratio of 0.25 and a beta of 0.71. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The company has a fifty day moving average price of $152.06 and a two-hundred day moving average price of $193.49. Charter Communications has a one year low of $124.05 and a one year high of $422.29.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing analysts’ consensus estimates of $10.01 by ($0.84). The firm had revenue of $13.60 billion during the quarter, compared to the consensus estimate of $13.56 billion. Charter Communications had a net margin of 9.03% and a return on equity of 24.20%. The business’s revenue was down 1.0% on a year-over-year basis. During the same period last year, the business earned $8.42 EPS. As a group, equities analysts predict that Charter Communications will post 43 EPS for the current year.

Insider Activity at Charter Communications

In other news, CEO Christopher L. Winfrey purchased 3,468 shares of the company’s stock in a transaction that occurred on Tuesday, April 28th. The stock was acquired at an average cost of $172.23 per share, with a total value of $597,293.64. Following the acquisition, the chief executive officer owned 74,409 shares in the company, valued at approximately $12,815,462.07. This trade represents a 4.89% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Thomas Rutledge sold 18,200 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total value of $2,674,308.00. Following the completion of the sale, the director owned 3,968 shares of the company’s stock, 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. Over the last quarter, insiders have purchased 20,125 shares of company stock valued at $3,167,116. Insiders own 1.10% of the company’s stock.

Institutional Investors Weigh In On Charter Communications

Hedge funds and other institutional investors have recently modified their holdings of the company. Thompson Siegel & Walmsley LLC increased its holdings in Charter Communications by 1,804.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company’s stock valued at $21,403,000 after purchasing an additional 97,143 shares during the period. Gateway Investment Advisers LLC acquired a new position in Charter Communications during the 4th quarter worth about $5,911,000. Norges Bank bought a new stake in shares of Charter Communications in the 4th quarter valued at about $555,383,000. First Eagle Investment Management LLC increased its stake in shares of Charter Communications by 119.6% in the fourth quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company’s stock valued at $619,885,000 after buying an additional 1,617,148 shares during the period. Finally, Swiss Life Asset Management Ltd raised its position in shares of Charter Communications by 110.7% during the fourth quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company’s stock worth $6,521,000 after acquiring an additional 16,415 shares during the last quarter. Institutional investors and hedge funds own 81.76% of the company’s stock.

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.