Citigroup Begins Coverage on Charter Communications (NASDAQ:CHTR)

Key Points

• Charter Communications has received a "Buy" rating from Citigroup, with a price target of $325.00, indicating a potential upside of 16.07% from its current stock price.
• Other analysts have varying ratings, with UBS lowering its target to $355.00 and Barclays reducing it to $275.00, resulting in a consensus average rating of "Hold" with a target of $378.71.
• CEO Christopher L. Winfrey and Director Balan Nair have made recent stock purchases, increasing their ownership stake in the company, which may indicate confidence in Charter Communications' performance.

Equities research analysts at Citigroup began coverage on shares of Charter Communications (NASDAQ:CHTR - Get Free Report) in a report issued on Monday, Marketbeat reports. The firm set a "buy" rating and a $325.00 price target on the stock. Citigroup's price objective suggests a potential upside of 17.20% from the stock's current price.

Other equities analysts have also issued research reports about the stock. Royal Bank Of Canada decreased their price target on shares of Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a report on Monday, July 28th. Wells Fargo & Company initiated coverage on shares of Charter Communications in a report on Thursday, August 21st. They set an "equal weight" rating and a $300.00 target price on the stock. Sanford C. Bernstein reduced their target price on shares of Charter Communications from $380.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, September 10th. UBS Group reduced their target price on shares of Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a report on Monday, July 28th. Finally, KeyCorp reduced their target price on shares of Charter Communications from $500.00 to $430.00 and set an "overweight" rating on the stock in a report on Friday. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $376.06.

Charter Communications Trading Down 1.0%

NASDAQ CHTR traded down $2.70 during mid-day trading on Monday, reaching $277.32. 98,950 shares of the stock were exchanged, compared to its average volume of 1,568,608. Charter Communications has a 1-year low of $251.80 and a 1-year high of $437.06. The business's fifty day simple moving average is $267.30 and its 200 day simple moving average is $342.50. The stock has a market capitalization of $37.88 billion, a PE ratio of 7.65, a PEG ratio of 0.62 and a beta of 1.05. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33.

Charter Communications (NASDAQ:CHTR - Get Free Report) last announced its earnings results on Friday, July 25th. The company reported $9.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $10.06 by ($0.88). Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The firm had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter last year, the business posted $8.49 EPS. The firm's revenue was up .6% compared to the same quarter last year. On average, research analysts anticipate that Charter Communications will post 38.16 earnings per share for the current fiscal year.

Insider Activity at Charter Communications

In other Charter Communications news, Director Balan Nair bought 360 shares of the stock in a transaction that occurred on Thursday, July 31st. The shares were purchased at an average cost of $274.21 per share, for a total transaction of $98,715.60. Following the transaction, the director directly owned 9,622 shares in the company, valued at $2,638,448.62. The trade was a 3.89% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Christopher L. Winfrey acquired 3,670 shares of the firm's stock in a transaction dated Thursday, July 31st. The stock was bought at an average price of $273.10 per share, with a total value of $1,002,277.00. Following the completion of the acquisition, the chief executive officer directly owned 70,243 shares of the company's stock, valued at approximately $19,183,363.30. This represents a 5.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.83% of the stock is owned by company insiders.

Institutional Trading of Charter Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Central Pacific Bank Trust Division lifted its position in shares of Charter Communications by 4.1% in the 3rd quarter. Central Pacific Bank Trust Division now owns 4,475 shares of the company's stock valued at $1,231,000 after acquiring an additional 175 shares in the last quarter. Osaic Holdings Inc. lifted its position in Charter Communications by 34.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,675 shares of the company's stock worth $3,129,000 after buying an additional 1,983 shares in the last quarter. Orion Porfolio Solutions LLC lifted its position in Charter Communications by 1.7% in the 2nd quarter. Orion Porfolio Solutions LLC now owns 2,417 shares of the company's stock worth $988,000 after buying an additional 41 shares in the last quarter. Stance Capital LLC purchased a new stake in Charter Communications in the 2nd quarter worth approximately $2,120,000. Finally, Advisory Services Network LLC raised its holdings in shares of Charter Communications by 3.8% during the 2nd quarter. Advisory Services Network LLC now owns 1,028 shares of the company's stock valued at $420,000 after purchasing an additional 38 shares in the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; Advanced WiFi services; Spectrum Security Shield; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.