Pivotal Research Cuts Charter Communications (NASDAQ:CHTR) Price Target to $400.00

Charter Communications (NASDAQ:CHTR) had its price target decreased by Pivotal Research from $450.00 to $400.00 in a research report released on Monday, Marketbeat.com reports. Pivotal Research currently has a buy rating on the stock.

A number of other research firms have also recently commented on CHTR. Rosenblatt Securities decreased their price target on Charter Communications from $297.00 to $292.00 and set a neutral rating for the company in a research note on Monday. Bank of America cut their price objective on shares of Charter Communications from $315.00 to $300.00 and set a neutral rating on the stock in a report on Monday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Charter Communications from $375.00 to $320.00 and set a hold rating for the company in a research note on Tuesday, April 16th. JPMorgan Chase & Co. cut their price target on shares of Charter Communications from $370.00 to $335.00 and set a neutral rating on the stock in a research note on Monday, April 1st. Finally, Barclays decreased their price target on shares of Charter Communications from $280.00 to $250.00 and set an underweight rating for the company in a report on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $356.47.

Charter Communications Price Performance

CHTR opened at $259.70 on Monday. The company has a current ratio of 0.40, a quick ratio of 0.31 and a debt-to-equity ratio of 6.28. The business’s fifty day simple moving average is $279.16 and its 200-day simple moving average is $343.46. The company has a market capitalization of $37.72 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.46 and a beta of 0.96. Charter Communications has a 12-month low of $236.08 and a 12-month high of $458.30.

Charter Communications (NASDAQ:CHTR) last posted its earnings results 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). The company had revenue of $13.68 billion for the quarter, compared to analysts’ expectations of $13.75 billion. Charter Communications had a return on equity of 31.42% and a net margin of 8.50%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.65 EPS. On average, equities research analysts anticipate that Charter Communications will post 31.81 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

Hedge funds have recently modified their holdings of the stock. Parnassus Investments LLC purchased a new position in Charter Communications during the third quarter valued at approximately $508,684,000. Norges Bank acquired a new stake in shares of Charter Communications during the 4th quarter valued at about $310,727,000. Capital International Investors grew its holdings in Charter Communications by 6.6% in the fourth quarter. Capital International Investors now owns 6,873,200 shares of the company’s stock valued at $2,671,608,000 after purchasing an additional 427,922 shares during the period. Pzena Investment Management LLC increased its position in shares of Charter Communications by 21.0% in the third quarter. Pzena Investment Management LLC now owns 1,459,148 shares of the company’s stock valued at $641,762,000 after buying an additional 253,324 shares in the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Charter Communications by 24.5% during the 4th quarter. Putnam Investments LLC now owns 1,233,243 shares of the company’s stock worth $479,337,000 after buying an additional 242,448 shares during the period. Hedge funds and other institutional investors own 81.76% of the company’s stock.

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.