Wells Fargo & Company Has Lowered Expectations for Charter Communications (NASDAQ:CHTR) Stock Price

Charter Communications (NASDAQ:CHTR) had its price objective reduced by stock analysts at Wells Fargo & Company from $400.00 to $380.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target would indicate a potential upside of 10.73% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. StockNews.com downgraded shares of Charter Communications from a “buy” rating to a “hold” rating in a research note on Saturday. Barclays raised their target price on Charter Communications from $315.00 to $320.00 and gave the stock an “underweight” rating in a research report on Monday, February 3rd. Citigroup initiated coverage on Charter Communications in a research note on Friday, March 14th. They issued a “buy” rating and a $425.00 price target for the company. BNP Paribas reissued an “underperform” rating and set a $290.00 target price on shares of Charter Communications in a research report on Thursday, April 10th. Finally, Royal Bank of Canada boosted their price target on shares of Charter Communications from $380.00 to $385.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $387.88.

Charter Communications Trading Up 0.8 %

CHTR opened at $343.18 on Monday. The company has a market cap of $48.71 billion, a P/E ratio of 9.82, a PEG ratio of 0.44 and a beta of 1.13. Charter Communications has a 1-year low of $236.08 and a 1-year high of $415.27. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 4.73. The company’s 50 day moving average is $357.95 and its 200-day moving average is $357.99.

Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, February 7th. The company reported $10.10 EPS for the quarter, beating analysts’ consensus estimates of $9.14 by $0.96. Charter Communications had a return on equity of 29.01% and a net margin of 9.23%. During the same quarter last year, the business earned $7.07 EPS. Equities research analysts predict that Charter Communications will post 38.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Charter Communications

Institutional investors have recently modified their holdings of the company. Fifth Third Bancorp grew its position in Charter Communications by 7.2% in the 1st quarter. Fifth Third Bancorp now owns 3,382 shares of the company’s stock valued at $1,246,000 after purchasing an additional 227 shares during the period. Simon Quick Advisors LLC acquired a new position in shares of Charter Communications during the first quarter valued at about $200,000. CX Institutional increased its position in shares of Charter Communications by 12.1% during the first quarter. CX Institutional now owns 1,130 shares of the company’s stock worth $416,000 after acquiring an additional 122 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of Charter Communications by 1.1% in the 1st quarter. Handelsbanken Fonder AB now owns 18,699 shares of the company’s stock worth $6,891,000 after acquiring an additional 212 shares during the last quarter. Finally, Walker Asset Management LLC bought a new position in Charter Communications in the 1st quarter valued at about $207,000. 81.76% of the stock is owned by institutional investors and hedge funds.

Charter Communications Company Profile

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.