Charter Communications (NASDAQ:CHTR) Price Target Lowered to $310.00 at Citigroup

Charter Communications (NASDAQ:CHTR) had its price objective dropped by investment analysts at Citigroup from $325.00 to $310.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price suggests a potential upside of 39.45% from the company’s previous close.

CHTR has been the topic of a number of other research reports. The Goldman Sachs Group assumed coverage on Charter Communications in a report on Tuesday, September 2nd. They set a “sell” rating and a $223.00 target price on the stock. Bank of America reduced their price objective on Charter Communications from $440.00 to $355.00 and set a “buy” rating on the stock in a research report on Wednesday, September 24th. Benchmark decreased their price objective on Charter Communications from $475.00 to $425.00 and set a “buy” rating on the stock in a research note on Monday. Barclays cut their target price on shares of Charter Communications from $275.00 to $200.00 and set an “underweight” rating for the company in a research note on Monday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Charter Communications in a report on Wednesday, October 8th. Six equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Charter Communications presently has an average rating of “Hold” and an average price target of $355.76.

Charter Communications Price Performance

Charter Communications stock traded down $11.54 during trading hours on Monday, hitting $222.30. The stock had a trading volume of 2,245,363 shares, compared to its average volume of 1,622,444. The stock has a market capitalization of $30.36 billion, a price-to-earnings ratio of 6.09, a PEG ratio of 0.55 and a beta of 1.05. The company has a debt-to-equity ratio of 4.57, a current ratio of 0.33 and a quick ratio of 0.33. Charter Communications has a 1-year low of $214.83 and a 1-year high of $437.06. The stock’s fifty day moving average is $261.86 and its two-hundred day moving average is $328.50.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, October 31st. The company reported $8.34 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.32). The business had revenue of $13.67 billion during the quarter, compared to analysts’ expectations of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.Charter Communications’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.82 earnings per share. As a group, analysts predict that Charter Communications will post 38.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

A number of hedge funds have recently made changes to their positions in CHTR. SouthState Corp acquired a new stake in shares of Charter Communications during the 1st quarter worth $25,000. Atlantic Union Bankshares Corp acquired a new position in Charter Communications in the second quarter valued at $25,000. Salem Investment Counselors Inc. grew its position in Charter Communications by 2,033.3% during the second quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after acquiring an additional 61 shares during the period. Ameritas Advisory Services LLC acquired a new stake in Charter Communications during the second quarter worth about $28,000. Finally, Webster Bank N. A. purchased a new position in shares of Charter Communications in the 3rd quarter worth about $28,000. Institutional investors and hedge funds 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.