Charter Communications (NASDAQ:CHTR) Price Target Cut to $150.00 by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan cut Charter Communications’ price target from $200 to $150 while maintaining a “neutral” rating, implying roughly 3.6% upside from the prior close.
• Analyst sentiment is broadly cautious: Charter has a consensus “Reduce” rating, with five Buy, eight Hold, and six Sell ratings. Recent target cuts came from Wells Fargo, Barclays, and other firms.
• Charter’s latest quarterly results exceeded expectations, with adjusted EPS of $10.66 versus a $9.98 estimate and revenue of $13.53 billion; however, revenue declined 1.7% year over year, while the stock traded near $144.79.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its price objective cut by research analysts at JPMorgan Chase & Co. from $200.00 to $150.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 3.60% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Wells Fargo & Company dropped their target price on shares of Charter Communications from $160.00 to $101.00 and set an "underweight" rating on the stock in a report on Monday. TD Cowen lowered their price target on Charter Communications from $413.00 to $380.00 and set a "buy" rating on the stock in a report on Monday. Zacks Research downgraded Charter Communications from a "hold" rating to a "strong sell" rating in a research note on Monday, July 6th. Deutsche Bank Aktiengesellschaft cut their price objective on Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a report on Monday, April 27th. Finally, Barclays lowered their target price on Charter Communications from $130.00 to $115.00 and set an "underweight" rating on the stock in a report on Monday. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Reduce" and a consensus price target of $226.88.

Charter Communications Stock Performance

NASDAQ:CHTR traded up $4.82 during mid-day trading on Wednesday, reaching $144.79. The company's stock had a trading volume of 2,655,022 shares, compared to its average volume of 2,764,390. The company has a current ratio of 0.36, a quick ratio of 0.40 and a debt-to-equity ratio of 4.32. The stock has a market cap of $17.81 billion, a P/E ratio of 3.75, a PEG ratio of 0.24 and a beta of 0.71. The firm's fifty day moving average price is $135.78 and its two-hundred day moving average price is $182.80. Charter Communications has a 12-month low of $111.55 and a 12-month high of $285.96.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The company reported $10.66 EPS for the quarter, topping analysts' consensus estimates of $9.98 by $0.68. Charter Communications had a net margin of 9.05% and a return on equity of 23.71%. The firm had revenue of $13.53 billion during the quarter, compared to analyst estimates of $13.51 billion. During the same period in the previous year, the business posted $9.18 earnings per share. The business's revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities analysts forecast that Charter Communications will post 41.14 EPS for the current fiscal year.

Insider Transactions at Charter Communications

In related news, Director Thomas Rutledge sold 18,200 shares of the business'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 directly owned 3,968 shares in the company, valued at approximately $583,057.92. The trade was a 82.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Mauricio Ramos acquired 9,929 shares of the business's stock in a transaction that occurred on Friday, May 15th. The shares were bought at an average price of $140.93 per share, with a total value of $1,399,293.97. Following the completion of the purchase, the director owned 19,309 shares in the company, valued at $2,721,217.37. This trade represents a 105.85% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 1.10% of the company's stock.

Hedge Funds Weigh In On Charter Communications

Hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. increased its stake in Charter Communications by 141.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after buying an additional 55 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Charter Communications in the first quarter worth about $25,000. Quarry LP grew its position in shares of Charter Communications by 153.2% during the fourth quarter. Quarry LP now owns 119 shares of the company's stock worth $25,000 after purchasing an additional 72 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Charter Communications during the fourth quarter worth about $25,000. Finally, DV Equities LLC bought a new stake in Charter Communications during the 4th quarter valued at approximately $25,000. 81.76% of the stock is currently owned by 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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