Charter Communications (NASDAQ:CHTR) Now Covered by The Goldman Sachs Group

Key Points

• Goldman Sachs Group has reaffirmed its "sell" rating for Charter Communications (NASDAQ:CHTR), with a price target of $223.00, indicating a potential downside of 16.03% from the company's last close.
• Recent ratings from various analysts reflect mixed sentiment, with eight analysts rating the stock as "Buy", while four maintain a "Sell" rating, resulting in a consensus rating of "Hold" and an average price target of $394.61.
• Charter Communications recently reported earnings of $9.18 per share, missing estimates, alongside a slight year-over-year revenue increase of 0.6% compared to the same quarter last year.

Investment analysts at The Goldman Sachs Group initiated coverage on shares of Charter Communications (NASDAQ:CHTR - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The brokerage set a "sell" rating and a $223.00 price target on the stock. The Goldman Sachs Group's target price suggests a potential downside of 15.96% from the company's previous close.

Other research analysts also recently issued reports about the company. Royal Bank Of Canada lowered their target price on Charter Communications from $430.00 to $370.00 and set a "sector perform" rating on the stock in a research note on Monday, July 28th. Wells Fargo & Company initiated coverage on Charter Communications in a research note on Thursday, August 21st. They issued an "equal weight" rating and a $300.00 target price on the stock. Loop Capital upgraded Charter Communications from a "hold" rating to a "buy" rating and lifted their target price for the company from $430.00 to $510.00 in a research note on Monday, May 19th. UBS Group decreased their price target on Charter Communications from $425.00 to $355.00 and set a "neutral" rating on the stock in a research note on Monday, July 28th. Finally, Arete Research upgraded Charter Communications to a "strong sell" rating in a research note on Tuesday, July 8th. Eight research analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, Charter Communications has an average rating of "Hold" and a consensus price target of $394.61.

Charter Communications Stock Performance

NASDAQ:CHTR traded down $0.22 during mid-day trading on Tuesday, reaching $265.36. 124,517 shares of the stock were exchanged, compared to its average volume of 1,491,583. The company has a 50 day simple moving average of $329.14 and a 200-day simple moving average of $358.53. The stock has a market capitalization of $36.25 billion, a P/E ratio of 7.27, a P/E/G ratio of 0.60 and a beta of 1.02. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 4.57. Charter Communications has a 1 year low of $254.67 and a 1 year high of $437.06.

Charter Communications (NASDAQ:CHTR - Get Free Report) last released its quarterly 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). The firm had revenue of $13.77 billion for the quarter, compared to analysts' expectations of $13.76 billion. Charter Communications had a return on equity of 26.77% and a net margin of 9.53%.The company's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.49 EPS. Analysts anticipate that Charter Communications will post 38.16 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Charter Communications

Several institutional investors and hedge funds have recently modified their holdings of CHTR. Makaira Partners LLC boosted its position in shares of Charter Communications by 4.0% in the fourth quarter. Makaira Partners LLC now owns 373,191 shares of the company's stock worth $127,919,000 after buying an additional 14,510 shares during the period. Comerica Bank boosted its holdings in Charter Communications by 1.3% in the fourth quarter. Comerica Bank now owns 15,147 shares of the company's stock valued at $5,192,000 after purchasing an additional 189 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Charter Communications by 144.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,074 shares of the company's stock valued at $3,110,000 after purchasing an additional 5,357 shares during the last quarter. Aptus Capital Advisors LLC boosted its holdings in Charter Communications by 5.8% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,197 shares of the company's stock valued at $410,000 after purchasing an additional 66 shares during the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in Charter Communications by 7.1% in the fourth quarter. Baird Financial Group Inc. now owns 1,232 shares of the company's stock valued at $422,000 after purchasing an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 81.76% of the company's stock.

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.