Royal Bank Of Canada Issues Pessimistic Forecast for Charter Communications (NASDAQ:CHTR) Stock Price

Key Points

• Royal Bank of Canada has decreased its price target for Charter Communications from $430.00 to $370.00, indicating a potential upside of 24.19% from the current price.
• Equities analysts have mixed opinions on Charter, with ratings ranging from buy to underperform, and an overall consensus rating of Hold.
• Charter Communications reported $9.18 EPS for the last quarter, which fell short of analysts' expectations of $10.06, although revenue was slightly above consensus estimates.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its price objective decreased by investment analysts at Royal Bank Of Canada from $430.00 to $370.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price indicates a potential upside of 24.05% from the stock's current price.

CHTR has been the subject of a number of other research reports. Sanford C. Bernstein raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $380.00 price target for the company in a report on Monday. Citigroup upped their price target on shares of Charter Communications from $425.00 to $445.00 and gave the stock a "buy" rating in a report on Monday, April 28th. Wells Fargo & Company upped their price target on shares of Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. Oppenheimer raised shares of Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target for the company in a report on Friday, May 16th. Finally, Bank of America increased their price objective on shares of Charter Communications from $450.00 to $500.00 and gave the company a "buy" rating in a research note on Tuesday, July 1st. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $412.32.

Charter Communications Stock Performance

Shares of NASDAQ:CHTR traded down $11.48 on Monday, reaching $298.27. 4,017,896 shares of the company's stock were exchanged, compared to its average volume of 1,633,906. The company has a fifty day moving average of $393.71 and a 200-day moving average of $373.31. Charter Communications has a twelve month low of $296.37 and a twelve month high of $437.06. The company has a market capitalization of $41.87 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.34 and a beta of 1.08. The company has a current ratio of 0.33, a quick ratio of 0.36 and a debt-to-equity ratio of 4.57.

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 business had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same quarter in the previous year, the company earned $8.49 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts predict that Charter Communications will post 38.16 EPS for the current fiscal year.

Institutional Trading of Charter Communications

Institutional investors have recently bought and sold shares of the company. Allianz Asset Management GmbH lifted its stake in shares of Charter Communications by 48.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 745,271 shares of the company's stock worth $304,674,000 after purchasing an additional 244,324 shares during the period. Rosenberg Matthew Hamilton lifted its stake in shares of Charter Communications by 15.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 318 shares of the company's stock worth $130,000 after purchasing an additional 42 shares during the period. Generali Asset Management SPA SGR lifted its stake in shares of Charter Communications by 5,696.3% in the 2nd quarter. Generali Asset Management SPA SGR now owns 6,260 shares of the company's stock worth $2,559,000 after purchasing an additional 6,152 shares during the period. Courier Capital LLC bought a new position in shares of Charter Communications in the 2nd quarter worth approximately $211,000. Finally, Bayforest Capital Ltd bought a new position in shares of Charter Communications in the 2nd quarter worth approximately $1,254,000. 81.76% of the stock is owned by hedge funds and other institutional investors.

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.