Charter Communications (NASDAQ:CHTR – Free Report) had its price target lowered by Royal Bank Of Canada from $160.00 to $150.00 in a research note issued to investors on Monday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the stock.
CHTR has been the subject of several other reports. Sanford C. Bernstein restated a “market perform” rating and set a $150.00 target price on shares of Charter Communications in a report on Monday. Wells Fargo & Company decreased their price target on Charter Communications from $160.00 to $101.00 and set an “underweight” rating on the stock in a research note on Monday. UBS Group reiterated a “neutral” rating and issued a $235.00 price objective on shares of Charter Communications in a research report on Thursday, June 25th. Deutsche Bank Aktiengesellschaft dropped their price objective on Charter Communications from $235.00 to $215.00 and set a “hold” rating for the company in a research note on Monday, April 27th. Finally, Freedom Capital upgraded shares of Charter Communications to a “hold” rating in a report on Friday, June 12th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $226.88.
Check Out Our Latest Research Report on CHTR
Charter Communications Price Performance
Charter Communications (NASDAQ:CHTR – Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The business had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. During the same period in the prior year, the business posted $9.18 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. Research analysts anticipate that Charter Communications will post 42.65 earnings per share for the current year.
Insider Transactions at Charter Communications
In other Charter Communications news, Director Thomas Rutledge sold 18,200 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director owned 3,968 shares of the company’s stock, valued at $583,057.92. This represents a 82.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mauricio Ramos purchased 9,929 shares of the stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $140.93 per share, with a total value of $1,399,293.97. Following the transaction, the director directly owned 19,309 shares in the company, valued at $2,721,217.37. The trade was a 105.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 1.10% of the company’s stock.
Hedge Funds Weigh In On Charter Communications
Several hedge funds have recently made changes to their positions in CHTR. Tema ETFs LLC boosted its holdings in Charter Communications by 8.3% in the second quarter. Tema ETFs LLC now owns 1,889 shares of the company’s stock valued at $269,000 after acquiring an additional 145 shares in the last quarter. Polianta Ltd purchased a new position in Charter Communications during the 2nd quarter valued at $1,777,000. Czech National Bank raised its holdings in Charter Communications by 1.5% in the 2nd quarter. Czech National Bank now owns 23,804 shares of the company’s stock worth $3,385,000 after purchasing an additional 352 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in Charter Communications by 61.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 77,213 shares of the company’s stock worth $10,980,000 after purchasing an additional 29,242 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in shares of Charter Communications by 3.0% in the 2nd quarter. Central Pacific Bank Trust Division now owns 5,383 shares of the company’s stock worth $766,000 after purchasing an additional 156 shares during the period. 81.76% of the stock is owned by hedge funds and other institutional investors.
Charter Communications News Roundup
Here are the key news stories impacting Charter Communications this week:
- Positive Sentiment: Citi maintained its Buy rating and set a $180 price target, implying meaningful potential upside from recent trading levels despite reducing its previous target. Citi Sticks to Their Buy Rating for Charter Communications
- Positive Sentiment: Charter recently exceeded quarterly EPS expectations, reporting $10.66 versus a $9.98 consensus estimate. Revenue was roughly in line with forecasts, which may be helping support the shares.
- Neutral Sentiment: JPMorgan lowered its price target from $200 to $150 and changed its rating to Neutral. The revised target still represents modest upside, but the downgrade signals limited near-term conviction. JPMorgan Lowers Charter Communications Price Target
- Neutral Sentiment: RBC Capital Markets assigned Charter a Hold rating, adding to the cautious analyst tone. RBC Capital Gives Charter Communications a Hold Rating
- Negative Sentiment: Wells Fargo lowered its expectations for Charter, while TD Cowen also reduced its price target to $380. These revisions reinforce concerns about the company’s outlook, even though TD Cowen’s target remains well above the current share price. Wells Fargo Lowers Expectations for Charter Communications TD Cowen Lowers Charter Communications Price Target
- Negative Sentiment: Analyst commentary is also highlighting a potential broadband test, including pressure from subscriber trends and competition. Charter’s high leverage and year-over-year revenue decline add to the investment risks. Charter Communications Faces a Broadband Test
About Charter Communications
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.
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