Charter Communications (NASDAQ:CHTR) Given New $130.00 Price Target at Barclays

Key Points

• Barclays cut Charter Communications’ price target from $200 to $130 and kept an underweight rating, implying about 5.81% downside from the prior close.
• Other analysts have also trimmed expectations for CHTR, with several lowering targets and the broader consensus sitting at “Reduce” despite an average price target of $255.69.
• Charter reported missed earnings for the quarter, posting $9.17 EPS versus $10.01 expected, while revenue came in roughly in line at $13.60 billion and shares recently traded near $138.02.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its target price lowered by stock analysts at Barclays from $200.00 to $130.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "underweight" rating on the stock. Barclays's price objective points to a potential downside of 5.81% from the company's previous close.

A number of other brokerages have also recently issued reports on CHTR. Sanford C. Bernstein restated a "market perform" rating and set a $210.00 price objective on shares of Charter Communications in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft dropped their target price on Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a report on Monday, April 27th. Citigroup reduced their target price on shares of Charter Communications from $230.00 to $190.00 and set a "buy" rating for the company in a research report on Monday, June 29th. Bank of America lowered their price target on shares of Charter Communications from $250.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, July 1st. Finally, Royal Bank Of Canada dropped their price objective on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a research note on Monday, April 27th. Five investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, Charter Communications has a consensus rating of "Reduce" and an average price target of $255.69.

Charter Communications Price Performance

Shares of CHTR opened at $138.02 on Wednesday. The company's 50-day moving average is $142.80 and its 200-day moving average is $190.95. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $16.97 billion, a PE ratio of 3.73, a PEG ratio of 0.24 and a beta of 0.71. Charter Communications has a fifty-two week low of $124.05 and a fifty-two week high of $413.14.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its earnings results on Friday, April 24th. The company reported $9.17 EPS for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The company had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same period in the previous year, the firm posted $8.42 EPS. The business's quarterly revenue was down 1.0% on a year-over-year basis. Equities analysts forecast that Charter Communications will post 42.28 EPS for the current year.

Insider Activity at Charter Communications

In other news, Director Wade Davis purchased 5,728 shares of Charter Communications stock in a transaction that occurred on Tuesday, April 28th. The shares were acquired at an average price of $173.72 per share, for a total transaction of $995,068.16. Following the transaction, the director owned 6,925 shares of the company's stock, valued at approximately $1,203,011. The trade was a 478.53% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Thomas Rutledge sold 18,200 shares of the business's stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $146.94, for a total transaction of $2,674,308.00. Following the transaction, the director owned 3,968 shares of the company's stock, valued at approximately $583,057.92. This represents a 82.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased a total of 20,125 shares of company stock worth $3,167,116 in the last 90 days. Corporate insiders own 1.10% of the company's stock.

Institutional Trading of Charter Communications

Several large investors have recently bought and sold shares of CHTR. Thompson Siegel & Walmsley LLC boosted its position in Charter Communications by 1,804.0% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 102,528 shares of the company's stock valued at $21,403,000 after buying an additional 97,143 shares in the last quarter. Gateway Investment Advisers LLC acquired a new stake in shares of Charter Communications during the 4th quarter valued at $5,911,000. Norges Bank bought a new stake in Charter Communications during the 4th quarter worth $555,383,000. First Eagle Investment Management LLC increased its holdings in Charter Communications by 119.6% in the 4th quarter. First Eagle Investment Management LLC now owns 2,969,507 shares of the company's stock worth $619,885,000 after purchasing an additional 1,617,148 shares in the last quarter. Finally, Swiss Life Asset Management Ltd increased its holdings in Charter Communications by 110.7% in the 4th quarter. Swiss Life Asset Management Ltd now owns 31,239 shares of the company's stock worth $6,521,000 after purchasing an additional 16,415 shares in the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.