Charter Communications (NASDAQ:CHTR) Given New $380.00 Price Target at TD Cowen

Key Points

• TD Cowen lowered its Charter Communications price target from $413 to $380 while maintaining a “buy” rating, implying substantial upside from the stock’s prior close.
• Analyst sentiment remains mixed: the stock has a consensus “Reduce” rating and an average target price of $236.56, with five Buy, eight Hold, and six Sell ratings.
• Charter’s latest quarterly results exceeded expectations, with earnings per share of $10.66 versus the $9.98 estimate and revenue of $13.53 billion; however, revenue declined 1.7% year over year.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its target price lowered by stock analysts at TD Cowen from $413.00 to $380.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. TD Cowen's price target would suggest a potential upside of 201.50% from the company's previous close.

Several other analysts also recently weighed in on CHTR. Benchmark reaffirmed a "buy" rating on shares of Charter Communications in a report on Wednesday. Freedom Capital raised Charter Communications to a "hold" rating in a research report on Friday, June 12th. Citigroup cut their price objective on Charter Communications from $230.00 to $190.00 and set a "buy" rating for the company in a report on Monday, June 29th. Sanford C. Bernstein reissued a "market perform" rating and set a $150.00 price target on shares of Charter Communications in a research report on Monday. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Charter Communications in a research report on Wednesday, June 24th. Five analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus target price of $236.56.

Charter Communications Stock Up 2.2%

CHTR stock traded up $2.73 during mid-day trading on Monday, reaching $126.03. The company had a trading volume of 943,325 shares, compared to its average volume of 2,734,037. The company has a debt-to-equity ratio of 4.32, a current ratio of 0.36 and a quick ratio of 0.40. The company has a market capitalization of $15.50 billion, a price-to-earnings ratio of 3.28, a PEG ratio of 0.23 and a beta of 0.71. Charter Communications has a 52 week low of $111.55 and a 52 week high of $309.40. The stock has a 50 day simple moving average of $136.02 and a two-hundred day simple moving average of $183.82.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, July 24th. The company reported $10.66 earnings per share for the quarter, beating analysts' consensus estimates of $9.98 by $0.68. The company had revenue of $13.53 billion during the quarter, compared to the consensus estimate of $13.51 billion. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $9.18 earnings per share. As a group, equities analysts predict that Charter Communications will post 41.29 earnings per share for the current fiscal year.

Insider Activity at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of Charter Communications stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $146.94, for a total value of $2,674,308.00. Following the transaction, the director owned 3,968 shares in the company, valued at approximately $583,057.92. This trade represents a 82.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wade Davis purchased 5,728 shares of the stock in a transaction dated Tuesday, April 28th. The shares were acquired at an average cost of $173.72 per share, for a total transaction of $995,068.16. Following the completion of the acquisition, the director directly owned 6,925 shares of the company's stock, valued at approximately $1,203,011. This trade represents a 478.53% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 20,125 shares of company stock worth $3,167,116 over the last ninety days. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Charter Communications

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tema ETFs LLC increased its stake in shares of Charter Communications by 8.3% during the second quarter. Tema ETFs LLC now owns 1,889 shares of the company's stock worth $269,000 after purchasing an additional 145 shares in the last quarter. Polianta Ltd acquired a new stake in Charter Communications during the 2nd quarter valued at approximately $1,777,000. Czech National Bank boosted its holdings in shares of Charter Communications by 1.5% in the second quarter. Czech National Bank now owns 23,804 shares of the company's stock valued at $3,385,000 after acquiring an additional 352 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Charter Communications by 61.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 77,213 shares of the company's stock valued at $10,980,000 after buying an additional 29,242 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its stake in Charter Communications by 3.0% during the second 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 currently owned by hedge funds and other institutional investors.

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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