KeyCorp Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price target cut by stock analysts at KeyCorp from $500.00 to $430.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. KeyCorp’s price objective indicates a potential upside of 53.57% from the stock’s current price.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company initiated coverage on Charter Communications in a research note on Thursday, August 21st. They set an “equal weight” rating and a $300.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of Charter Communications from $430.00 to $370.00 and set a “sector perform” rating on the stock in a report on Monday, July 28th. Wolfe Research upgraded shares of Charter Communications from an “underperform” rating to a “peer perform” rating in a research note on Friday, June 20th. The Goldman Sachs Group started coverage on Charter Communications in a research note on Tuesday, September 2nd. They issued a “sell” rating and a $223.00 price objective on the stock. Finally, Barclays decreased their target price on Charter Communications from $341.00 to $275.00 and set an “underweight” rating for the company in a report on Monday, July 28th. Eight equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, Charter Communications has an average rating of “Hold” and a consensus price target of $385.76.

Charter Communications Stock Performance

Shares of CHTR stock opened at $280.01 on Friday. The company has a debt-to-equity ratio of 4.57, a quick ratio of 0.33 and a current ratio of 0.33. The firm has a market cap of $38.25 billion, a P/E ratio of 7.67, a P/E/G ratio of 0.62 and a beta of 1.05. The firm’s 50 day moving average price is $267.30 and its 200-day moving average price is $342.64. Charter Communications has a one year low of $251.80 and a one year high of $437.06.

Charter Communications (NASDAQ:CHTR) last announced its 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). Charter Communications had a net margin of 9.53% and a return on equity of 26.77%. The firm had revenue of $13.77 billion during the quarter, compared to analysts’ expectations of $13.76 billion. During the same period in the previous year, the firm earned $8.49 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts predict that Charter Communications will post 38.16 EPS for the current year.

Insiders Place Their Bets

In other Charter Communications news, CEO Christopher L. Winfrey acquired 3,670 shares of the stock in a transaction on Thursday, July 31st. The shares were 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Balan Nair acquired 360 shares of the company’s stock in a transaction on Thursday, July 31st. The stock was acquired at an average price of $274.21 per share, for a total transaction of $98,715.60. Following the completion of the purchase, the director owned 9,622 shares of the company’s stock, valued at $2,638,448.62. This trade represents a 3.89% increase in their position. The disclosure for this purchase can be found here. 0.83% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Atlantic Union Bankshares Corp acquired a new position in shares of Charter Communications in the second quarter valued at approximately $25,000. Salem Investment Counselors Inc. grew its position in Charter Communications by 2,033.3% in the 2nd quarter. Salem Investment Counselors Inc. now owns 64 shares of the company’s stock valued at $26,000 after buying an additional 61 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Charter Communications in the 2nd quarter valued at $28,000. SouthState Corp purchased a new position in Charter Communications during the 1st quarter worth $25,000. Finally, Heritage Wealth Advisors acquired a new stake in shares of Charter Communications in the 2nd quarter worth $29,000. 81.76% 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; 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.