Charter Communications (NASDAQ:CHTR) Price Target Cut to $230.00 by Analysts at Citigroup

Key Points

• Citigroup cut its price target on Charter from $290 to $230 while maintaining a buy rating, with the new target implying roughly a 28.6% upside from the prior close.
• The analyst consensus is a Hold with an average target of $327.89, based on 6 Buys, 10 Holds and 6 Sells.
• Charter recently missed quarterly EPS ($9.17 vs. $10.01 expected) while reporting $13.60B in revenue, and shares traded around $178.80—near its one‑year low of $177.32.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its target price decreased by equities research analysts at Citigroup from $290.00 to $230.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The firm presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 28.64% from the company's previous close.

CHTR has been the topic of a number of other reports. Sanford C. Bernstein decreased their target price on Charter Communications from $220.00 to $210.00 and set a "market perform" rating on the stock in a research report on Monday. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Charter Communications in a research note on Friday, March 27th. Benchmark decreased their price objective on shares of Charter Communications from $455.00 to $435.00 and set a "buy" rating on the stock in a research report on Thursday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Charter Communications from $275.00 to $235.00 and set a "hold" rating for the company in a report on Tuesday, February 3rd. Finally, UBS Group set a $425.00 price target on shares of Charter Communications in a report on Thursday, January 29th. Six analysts have rated the stock with a Buy rating, ten have issued a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $327.89.

Charter Communications Price Performance

Charter Communications stock traded down $1.33 during mid-day trading on Monday, reaching $178.80. The company had a trading volume of 469,164 shares, compared to its average volume of 2,059,734. The stock's 50-day simple moving average is $224.64 and its 200-day simple moving average is $218.64. Charter Communications has a 1 year low of $177.32 and a 1 year high of $437.06. The company has a debt-to-equity ratio of 4.56, a current ratio of 0.40 and a quick ratio of 0.39. The company has a market capitalization of $22.64 billion, a P/E ratio of 4.83, a P/E/G ratio of 0.30 and a beta of 1.03.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly earnings results on Friday, April 24th. The company reported $9.17 earnings per share for the quarter, missing analysts' consensus estimates of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The firm had revenue of $13.60 billion during the quarter, compared to analyst estimates of $13.56 billion. During the same quarter in the prior year, the company earned $8.42 EPS. The business's revenue was down 1.0% on a year-over-year basis. On average, equities analysts predict that Charter Communications will post 43.39 EPS for the current year.

Institutional Trading of Charter Communications

Large investors have recently modified their holdings of the business. Quarry LP grew its position in shares of Charter Communications by 153.2% in the fourth quarter. Quarry LP now owns 119 shares of the company's stock valued at $25,000 after purchasing an additional 72 shares during the last quarter. Altshuler Shaham Ltd acquired a new stake in shares of Charter Communications in the fourth quarter valued at approximately $25,000. DV Equities LLC acquired a new stake in shares of Charter Communications in the fourth quarter valued at approximately $25,000. Webster Bank N. A. acquired a new stake in shares of Charter Communications in the third quarter valued at approximately $28,000. Finally, Steigerwald Gordon & Koch Inc. purchased a new position in shares of Charter Communications during the third quarter valued at approximately $30,000. 81.76% of the stock is currently 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.

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