New Street Research Issues Pessimistic Forecast for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective dropped by New Street Research from $479.00 to $328.00 in a note issued to investors on Thursday,MarketScreener reports. The brokerage currently has a “buy” rating on the stock. New Street Research’s price objective indicates a potential upside of 46.74% from the stock’s previous close.

CHTR has been the subject of several other reports. Wells Fargo & Company upped their price objective on Charter Communications from $180.00 to $200.00 and gave the stock an “underweight” rating in a research report on Monday. Royal Bank Of Canada reduced their price objective on shares of Charter Communications from $265.00 to $240.00 and set a “sector perform” rating for the company in a research report on Friday, January 16th. BNP Paribas Exane set a $160.00 target price on shares of Charter Communications in a research note on Tuesday, January 27th. UBS Group set a $425.00 price objective on shares of Charter Communications in a research note on Thursday, January 29th. Finally, Exane BNP Paribas reiterated an “underperform” rating on shares of Charter Communications in a research note on Tuesday, January 27th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $335.67.

Charter Communications Stock Down 0.3%

Shares of Charter Communications stock opened at $223.53 on Thursday. The company has a quick ratio of 0.37, a current ratio of 0.39 and a debt-to-equity ratio of 4.65. Charter Communications has a 52-week low of $180.38 and a 52-week high of $437.06. The company has a market capitalization of $28.93 billion, a P/E ratio of 6.16, a P/E/G ratio of 0.40 and a beta of 1.05. The company has a 50 day moving average of $203.56 and a 200 day moving average of $239.24.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Friday, January 30th. The company reported $10.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.40 by ($0.06). The firm had revenue of $13.60 billion for the quarter, compared to analysts’ expectations of $13.73 billion. Charter Communications had a return on equity of 24.63% and a net margin of 9.10%.Charter Communications’s revenue for the quarter was down 2.3% on a year-over-year basis. During the same period last year, the firm posted $10.10 earnings per share. As a group, research analysts forecast that Charter Communications will post 38.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

A number of large investors have recently modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new stake in shares of Charter Communications in the second quarter valued at about $25,000. Ameritas Advisory Services LLC acquired a new stake in Charter Communications during the 2nd quarter valued at $28,000. Heritage Wealth Advisors purchased a new stake in Charter Communications during the 2nd quarter worth $29,000. Geneos Wealth Management Inc. increased its stake in Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company’s stock worth $35,000 after buying an additional 55 shares during the period. Finally, Webster Bank N. A. acquired a new position in Charter Communications in the 3rd quarter worth $28,000. 81.76% of the stock is currently owned by hedge funds and other institutional investors.

About Charter Communications

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.