Citigroup Cuts Charter Communications (NASDAQ:CHTR) Price Target to $280.00

Charter Communications (NASDAQ:CHTR) had its price target lowered by Citigroup from $300.00 to $280.00 in a report released on Monday, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other brokerages have also commented on CHTR. Rosenblatt Securities cut their price objective on Charter Communications from $297.00 to $292.00 and set a neutral rating for the company in a report on Monday. Sanford C. Bernstein raised shares of Charter Communications from a market perform rating to an outperform rating and set a $370.00 price target for the company in a research report on Monday, March 18th. Barclays dropped their price objective on shares of Charter Communications from $280.00 to $250.00 and set an underweight rating on the stock in a report on Tuesday, April 2nd. Pivotal Research reduced their target price on shares of Charter Communications from $450.00 to $400.00 and set a buy rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Charter Communications from $375.00 to $320.00 and set a hold rating on the stock in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Charter Communications presently has an average rating of Hold and an average target price of $356.47.

Charter Communications Price Performance

CHTR opened at $259.70 on Monday. The company’s 50-day simple moving average is $279.16 and its two-hundred day simple moving average is $343.46. The company has a debt-to-equity ratio of 6.28, a quick ratio of 0.31 and a current ratio of 0.40. The stock has a market capitalization of $37.72 billion, a P/E ratio of 8.40, a P/E/G ratio of 0.46 and a beta of 0.96. Charter Communications has a 52-week low of $236.08 and a 52-week high of $458.30.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, April 26th. The company reported $7.55 earnings per share for the quarter, missing analysts’ consensus estimates of $7.78 by ($0.23). Charter Communications had a net margin of 8.50% and a return on equity of 31.42%. The company had revenue of $13.68 billion for the quarter, compared to the consensus estimate of $13.75 billion. During the same quarter last year, the company earned $6.65 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts predict that Charter Communications will post 31.81 EPS for the current year.

Hedge Funds Weigh In On Charter Communications

Large investors have recently made changes to their positions in the business. Wetzel Investment Advisors Inc. bought a new stake in Charter Communications during the 4th quarter valued at approximately $25,000. Riverview Trust Co bought a new stake in shares of Charter Communications during the first quarter valued at approximately $40,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Charter Communications in the fourth quarter worth $44,000. Cullen Frost Bankers Inc. boosted its position in shares of Charter Communications by 769.2% during the fourth quarter. Cullen Frost Bankers Inc. now owns 113 shares of the company’s stock worth $44,000 after acquiring an additional 100 shares during the last quarter. Finally, Catalyst Capital Advisors LLC grew its stake in Charter Communications by 32.1% during the third quarter. Catalyst Capital Advisors LLC now owns 111 shares of the company’s stock valued at $49,000 after acquiring an additional 27 shares in the last quarter. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.