Royal Bank of Canada Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its target price dropped by investment analysts at Royal Bank of Canada from $390.00 to $380.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective suggests a potential upside of 9.61% from the stock’s previous close.

CHTR has been the subject of a number of other reports. Wolfe Research lowered shares of Charter Communications from a “peer perform” rating to an “underperform” rating and set a $300.00 price objective for the company. in a research note on Monday, September 30th. Bank of America raised shares of Charter Communications from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $385.00 to $450.00 in a research note on Monday, November 4th. Morgan Stanley boosted their target price on shares of Charter Communications from $360.00 to $415.00 and gave the company an “equal weight” rating in a research note on Monday, November 4th. Deutsche Bank Aktiengesellschaft raised their target price on Charter Communications from $340.00 to $365.00 and gave the stock a “hold” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company upped their price target on Charter Communications from $350.00 to $400.00 and gave the company an “equal weight” rating in a research report on Monday, November 4th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $383.89.

Charter Communications Stock Performance

NASDAQ:CHTR opened at $346.68 on Wednesday. The company has a 50-day moving average of $372.10 and a 200-day moving average of $348.73. The firm has a market cap of $49.30 billion, a price-to-earnings ratio of 10.86, 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. Charter Communications has a twelve month low of $236.08 and a twelve month high of $415.27.

Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, November 1st. The company reported $8.82 earnings per share for the quarter, topping analysts’ consensus estimates of $8.55 by $0.27. The firm had revenue of $13.80 billion during the quarter, compared to analysts’ expectations of $13.66 billion. Charter Communications had a net margin of 8.52% and a return on equity of 28.73%. The firm’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same period last year, the firm posted $8.25 earnings per share. Analysts forecast that Charter Communications will post 34.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Reston Wealth Management LLC bought a new position in shares of Charter Communications in the third quarter worth about $26,000. Ashton Thomas Securities LLC bought a new position in Charter Communications in the 3rd quarter worth approximately $28,000. Grove Bank & Trust lifted 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 worth $39,000 after buying an additional 34 shares during the last quarter. CVA Family Office LLC boosted its position in shares of Charter Communications by 31.3% in the third quarter. CVA Family Office LLC now owns 147 shares of the company’s stock valued at $48,000 after acquiring an additional 35 shares during the period. Finally, Capital Advisors Ltd. LLC grew its stake in shares of Charter Communications by 28.7% in the third quarter. Capital Advisors Ltd. LLC now owns 157 shares of the company’s stock worth $51,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds 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.