The Goldman Sachs Group Lowers Charter Communications (NASDAQ:CHTR) Price Target to $125.00

Key Points

• Goldman Sachs cut Charter Communications’ price target from $185 to $125 and kept a sell rating, implying further downside from current levels.
• The stock was already trading lower, down 2.2% to $136.73, with a recent earnings miss highlighting pressure on performance even as revenue was roughly in line with estimates.
• Analyst sentiment remains weak overall: among tracked analysts, Charter has a consensus “Reduce” rating, and several firms have recently lowered their targets as well.

Charter Communications (NASDAQ:CHTR - Get Free Report) had its price objective cut by stock analysts at The Goldman Sachs Group from $185.00 to $125.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "sell" rating on the stock. The Goldman Sachs Group's target price points to a potential downside of 8.58% from the company's current price.

Other analysts have also issued research reports about the company. Deutsche Bank Aktiengesellschaft lowered their target price on Charter Communications from $235.00 to $215.00 and set a "hold" rating for the company in a report on Monday, April 27th. UBS Group reissued a "neutral" rating and issued a $235.00 price target on shares of Charter Communications in a research report on Thursday, June 25th. Sanford C. Bernstein reaffirmed a "market perform" rating and set a $210.00 price objective on shares of Charter Communications in a research report on Tuesday, May 26th. Citigroup cut their target price on Charter Communications from $230.00 to $190.00 and set a "buy" rating on the stock in a research note on Monday. Finally, Royal Bank Of Canada decreased their price target on shares of Charter Communications from $250.00 to $220.00 and set a "sector perform" rating for the company in a research report on Monday, April 27th. Five analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $262.56.

Charter Communications Trading Down 2.2%

CHTR traded down $3.11 during trading on Thursday, hitting $136.73. 297,436 shares of the stock were exchanged, compared to its average volume of 2,708,154. The firm has a 50 day simple moving average of $149.97 and a 200 day simple moving average of $192.98. The firm has a market cap of $16.82 billion, a price-to-earnings ratio of 3.69, a P/E/G ratio of 0.24 and a beta of 0.71. Charter Communications has a 1 year low of $124.05 and a 1 year high of $422.29. The company has a debt-to-equity ratio of 4.56, a quick ratio of 0.40 and a current ratio of 0.40.

Charter Communications (NASDAQ:CHTR - Get Free Report) last issued its earnings results on Friday, April 24th. The company reported $9.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.01 by ($0.84). Charter Communications had a return on equity of 24.20% and a net margin of 9.03%.The business had revenue of $13.60 billion for the quarter, compared to the consensus estimate of $13.56 billion. During the same quarter in the previous year, the company earned $8.42 earnings per share. The firm's revenue was down 1.0% on a year-over-year basis. As a group, equities analysts expect that Charter Communications will post 43 EPS for the current year.

Insider Buying and Selling at Charter Communications

In related news, Director Wade Davis acquired 5,728 shares of the firm's stock in a transaction dated Tuesday, April 28th. The stock was acquired at an average price of $173.72 per share, with a total value of $995,068.16. Following the acquisition, the director directly owned 6,925 shares in the company, valued at $1,203,011. This represents a 478.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Thomas Rutledge sold 69,633 shares of the company's stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $144.45, for a total value of $10,058,486.85. Following the completion of the sale, the director owned 3,968 shares in the company, valued at $573,177.60. The trade was a 94.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have bought 20,125 shares of company stock worth $3,167,116. Insiders own 1.10% of the company's stock.

Institutional Investors Weigh In On Charter Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Parallel Advisors LLC lifted its stake in shares of Charter Communications by 146.2% in the 1st quarter. Parallel Advisors LLC now owns 965 shares of the company's stock valued at $208,000 after purchasing an additional 573 shares during the period. NewEdge Advisors LLC increased its holdings in Charter Communications by 6.3% in the first quarter. NewEdge Advisors LLC now owns 1,762 shares of the company's stock valued at $380,000 after buying an additional 104 shares in the last quarter. Honeycomb Asset Management LP acquired a new position in shares of Charter Communications in the first quarter worth about $12,737,000. Glenmede Trust Co. NA boosted its stake in shares of Charter Communications by 2.1% during the 1st quarter. Glenmede Trust Co. NA now owns 5,480 shares of the company's stock worth $1,183,000 after acquiring an additional 113 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Charter Communications by 28.4% during the 1st quarter. Bank of America Corp DE now owns 731,708 shares of the company's stock valued at $157,961,000 after acquiring an additional 161,888 shares during the period. Institutional investors and hedge funds own 81.76% of the company's stock.

Charter Communications Company Profile

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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