Charter Communications (NASDAQ:CHTR – Free Report) had its price objective lowered by Rosenblatt Securities from $475.00 to $472.00 in a report issued on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.
Other research analysts have also issued research reports about the company. Pivotal Research dropped their target price on Charter Communications from $500.00 to $450.00 and set a buy rating on the stock in a report on Monday. Benchmark dropped their target price on Charter Communications from $490.00 to $440.00 and set a buy rating on the stock in a report on Monday. The Goldman Sachs Group dropped their target price on Charter Communications from $510.00 to $450.00 and set a buy rating on the stock in a report on Monday, October 30th. Citigroup dropped their target price on Charter Communications from $480.00 to $425.00 and set a neutral rating on the stock in a report on Wednesday, November 1st. Finally, UBS Group dropped their target price on Charter Communications from $415.00 to $360.00 and set a neutral rating on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and an average target price of $425.31.
Charter Communications Stock Down 4.4 %
Charter Communications (NASDAQ:CHTR – Get Free Report) last announced its quarterly earnings results on Friday, February 2nd. The company reported $7.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.76 by ($1.69). The firm had revenue of $13.71 billion during the quarter, compared to the consensus estimate of $13.70 billion. Charter Communications had a return on equity of 32.32% and a net margin of 8.35%. The firm’s revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company posted $7.69 EPS. As a group, research analysts forecast that Charter Communications will post 35.61 EPS for the current fiscal year.
Insiders Place Their Bets
In other news, Chairman Thomas Rutledge sold 83,970 shares of Charter Communications stock in a transaction on Friday, November 17th. The stock was sold at an average price of $410.82, for a total value of $34,496,555.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.32% of the company’s stock.
Hedge Funds Weigh In On Charter Communications
Hedge funds have recently made changes to their positions in the stock. Fund Management at Engine No. 1 LLC grew its position in shares of Charter Communications by 5.9% in the second quarter. Fund Management at Engine No. 1 LLC now owns 1,353 shares of the company’s stock valued at $497,000 after purchasing an additional 75 shares in the last quarter. Raymond James & Associates grew its position in shares of Charter Communications by 16.0% in the second quarter. Raymond James & Associates now owns 14,114 shares of the company’s stock valued at $5,185,000 after purchasing an additional 1,949 shares in the last quarter. Rosenbaum Jay D. bought a new stake in Charter Communications during the second quarter valued at $240,000. Principal Financial Group Inc. boosted its stake in Charter Communications by 26.7% during the third quarter. Principal Financial Group Inc. now owns 197,611 shares of the company’s stock valued at $86,913,000 after buying an additional 41,694 shares during the period. Finally, Kentucky Retirement Systems bought a new stake in Charter Communications during the third quarter valued at $3,383,000. 93.84% of the stock is currently 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; security suite that protects computers from viruses and spyware, and threats from malicious actors; 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.
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