Charter Communications (NASDAQ:CHTR) Price Target Cut to $140.00 by Analysts at Citigroup

Key Points

• Citigroup lowered Charter Communications’ price target from $180 to $140 while maintaining a “buy” rating, implying approximately 22.19% upside from the reported share price.
• Analyst sentiment is mixed: five analysts rate the stock “buy,” ten “hold,” and seven “sell,” resulting in a consensus “reduce” rating and an average price target of $200.18.
• Charter shares traded down 0.8% to $114.58, near the lower end of their 52-week range, while institutional investors own 81.76% of the company.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its price target dropped by equities research analysts at Citigroup from $180.00 to $140.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's target price would indicate a potential upside of 22.19% from the stock's current price.

Several other analysts have also recently issued reports on the company. The Goldman Sachs Group reduced their price objective on Charter Communications from $120.00 to $110.00 and set a "sell" rating on the stock in a research note on Friday, September 25th. UBS Group cut their price target on Charter Communications from $235.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, July 27th. Royal Bank Of Canada reduced their price target on Charter Communications from $160.00 to $150.00 and set a "sector perform" rating on the stock in a research report on Monday, July 27th. JPMorgan Chase & Co. decreased their price objective on Charter Communications from $200.00 to $150.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein reissued a "market perform" rating and set a $150.00 price objective on shares of Charter Communications in a research report on Monday, July 27th. Five research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $200.18.

Charter Communications Trading Down 0.8%

CHTR traded down $0.96 during trading hours on Tuesday, reaching $114.58. The company's stock had a trading volume of 836,876 shares, compared to its average volume of 2,778,930. The stock has a market cap of $13.67 billion, a PE ratio of 2.97, a P/E/G ratio of 0.22 and a beta of 0.70. Charter Communications has a fifty-two week low of $101.11 and a fifty-two week high of $254.11. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.36. The business's 50-day moving average is $123.53 and its 200-day moving average is $164.80.

Institutional Investors Weigh In On Charter Communications

Large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in shares of Charter Communications by 28.4% during the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company's stock worth $157,961,000 after purchasing an additional 161,888 shares during the period. State of Michigan Retirement System grew its holdings in Charter Communications by 1,547.4% in the 1st quarter. State of Michigan Retirement System now owns 431,582 shares of the company's stock valued at $93,170,000 after buying an additional 405,385 shares during the period. Sei Investments Co. increased its stake in shares of Charter Communications by 79.2% during the 1st quarter. Sei Investments Co. now owns 250,497 shares of the company's stock valued at $54,078,000 after acquiring an additional 110,684 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Charter Communications by 1.5% during the 1st quarter. Swiss National Bank now owns 246,896 shares of the company's stock worth $53,300,000 after acquiring an additional 3,560 shares during the period. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Charter Communications by 443.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company's stock worth $46,565,000 after acquiring an additional 342,668 shares during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Company Profile

Charter Communications, Inc is a telecommunications and broadband services company that operates under the Spectrum brand. The company provides internet access, video entertainment, mobile communications and voice services to residential customers, as well as connectivity, data networking, cloud, security and other communications solutions to businesses and government organizations.

Charter operates one of the largest broadband networks in the United States, serving customers across dozens of states.

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