Charter Communications (NASDAQ:CHTR) Stock Price Target Raised at Wells Fargo & Company

Key Points

• Wells Fargo raised its Charter Communications price target from $101 to $103 but maintained an “underweight” rating, implying 12.28% downside from the prior close.
• Analyst sentiment is mixed but leans negative: MarketBeat lists five Buy, nine Hold and seven Sell ratings, with an overall “Reduce” consensus.
• Charter reported quarterly revenue of $14.92 billion, above estimates and up 9.1% year over year, but EPS of -$20.50 fell far short of the $8.90 consensus.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its price target raised by Wells Fargo & Company from $101.00 to $103.00 in a research note issued on Monday, Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price target indicates a potential downside of 12.28% from the stock's previous close.

Several other equities analysts have also issued reports on CHTR. BNP Paribas Exane cut their price target on Charter Communications from $150.00 to $120.00 and set an "underperform" rating on the stock in a research note on Tuesday, July 14th. Benchmark reiterated a "buy" rating on shares of Charter Communications in a report on Wednesday, July 22nd. Arete Research upgraded Charter Communications to a "strong sell" rating in a research report on Thursday, October 1st. Morgan Stanley lowered their price objective on Charter Communications from $150.00 to $140.00 and set an "equal weight" rating for the company in a research report on Friday, September 25th. Finally, Royal Bank Of Canada dropped their price objective on Charter Communications from $160.00 to $150.00 and set a "sector perform" rating for the company in a report on Monday, July 27th. Five investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and seven have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Reduce" and an average price target of $200.29.

Charter Communications Trading Down 0.6%

NASDAQ:CHTR traded down $0.65 during trading hours on Monday, hitting $117.42. 382,746 shares of the stock were exchanged, compared to its average volume of 2,798,383. The company's 50 day moving average is $120.93 and its two-hundred day moving average is $163.33. Charter Communications has a twelve month low of $101.11 and a twelve month high of $254.11. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 3.58. The company has a market capitalization of $14.01 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 0.26 and a beta of 0.73.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings data on Friday, November 6th. The company reported ($20.50) EPS for the quarter, missing analysts' consensus estimates of $8.90 by ($29.40). The firm had revenue of $14.92 billion during the quarter, compared to the consensus estimate of $13.50 billion. Charter Communications had a net margin of 2.50% and a return on equity of 27.11%. The firm's quarterly revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.34 earnings per share. On average, sell-side analysts anticipate that Charter Communications will post 41.43 earnings per share for the current fiscal year.

Institutional Trading of Charter Communications

Several institutional investors and hedge funds have recently made changes to their positions in the business. Danske Bank A S raised its holdings in shares of Charter Communications by 187.4% during the third quarter. Danske Bank A S now owns 1,142,949 shares of the company's stock worth $128,145,000 after acquiring an additional 745,256 shares during the period. Russell Investments Group Ltd. lifted its position in Charter Communications by 507.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 767,841 shares of the company's stock valued at $85,154,000 after acquiring an additional 641,422 shares in the last quarter. Bank of America Corp DE boosted its stake in Charter Communications by 28.4% in 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 boosted its stake 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 worth $93,170,000 after purchasing an additional 405,385 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in Charter Communications by 443.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 419,881 shares of the company's stock worth $46,565,000 after purchasing an additional 342,668 shares during the period. Institutional investors own 81.76% of the company's stock.

Charter Communications Company Profile

Charter Communications, Inc provides broadband, video, voice and mobile services in the United States, primarily under its Spectrum brand. Its residential offerings include high-speed internet, television and home phone services, while its business services include connectivity, communications and managed solutions for organizations.

The company also offers Spectrum Mobile, a wireless service that complements its broadband business. Charter serves customers across a broad U.S. footprint, including communities where it provides services over its cable network.

Founded in 1993, Charter expanded significantly through its 2016 acquisitions of Time Warner Cable and Bright House Networks, bringing those operations under the Spectrum brand.

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