Charter Communications (NASDAQ:CHTR) Price Target Cut to $380.00 by Analysts at Royal Bank of Canada

Charter Communications (NASDAQ:CHTR) had its price target lowered by Royal Bank of Canada from $390.00 to $380.00 in a research note published on Wednesday,Benzinga reports. Royal Bank of Canada currently has a sector perform rating on the stock.

Several other equities analysts have also recently commented on the company. Benchmark increased their target price on Charter Communications from $440.00 to $450.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wolfe Research cut Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price objective on the stock. in a research note on Monday, September 30th. Deutsche Bank Aktiengesellschaft raised their price objective on Charter Communications from $340.00 to $365.00 and gave the stock a “hold” rating in a research note on Monday, November 4th. Wells Fargo & Company raised their price objective on Charter Communications from $350.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Finally, Morgan Stanley raised their price objective on Charter Communications from $360.00 to $415.00 and gave the stock an “equal weight” rating in a research note on Monday, November 4th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Charter Communications currently has a consensus rating of “Hold” and an average target price of $383.89.

Charter Communications Stock Performance

Charter Communications stock opened at $348.00 on Wednesday. The stock has a market cap of $49.49 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 0.48 and a beta of 1.10. The company has a current ratio of 0.34, a quick ratio of 0.34 and a debt-to-equity ratio of 5.24. The stock has a 50 day moving average of $373.30 and a 200-day moving average of $348.74. Charter Communications has a 52 week low of $236.08 and a 52 week high of $415.27.

Charter Communications (NASDAQ:CHTR) last released its earnings results on Friday, November 1st. The company reported $8.82 EPS for the quarter, beating the consensus estimate of $8.55 by $0.27. The company had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a return on equity of 28.73% and a net margin of 8.52%. The business’s revenue was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted $8.25 EPS. On average, analysts expect that Charter Communications will post 34.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Reston Wealth Management LLC acquired a new position in shares of Charter Communications during the third quarter valued at $26,000. Ashton Thomas Securities LLC acquired a new position in shares of Charter Communications during the third quarter valued at $28,000. Grove Bank & Trust increased its holdings in shares of Charter Communications by 39.1% during the third quarter. Grove Bank & Trust now owns 121 shares of the company’s stock valued at $39,000 after purchasing an additional 34 shares during the period. CVA Family Office LLC increased its holdings in shares of Charter Communications by 31.3% during the third quarter. CVA Family Office LLC now owns 147 shares of the company’s stock valued at $48,000 after purchasing an additional 35 shares during the period. Finally, Capital Advisors Ltd. LLC increased its holdings in shares of Charter Communications by 28.7% during the third quarter. Capital Advisors Ltd. LLC now owns 157 shares of the company’s stock valued at $51,000 after purchasing an additional 35 shares during the period. 81.76% of the stock is owned by institutional investors and hedge funds.

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.