Equities analysts expect Charter Communications, Inc. (NASDAQ:CHTR) to announce sales of $12.92 billion for the current quarter, according to Zacks Investment Research. Fifteen analysts have issued estimates for Charter Communications’ earnings, with the lowest sales estimate coming in at $12.67 billion and the highest estimate coming in at $13.21 billion. Charter Communications posted sales of $12.04 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.3%. The business is expected to announce its next earnings report on Friday, October 29th.
According to Zacks, analysts expect that Charter Communications will report full-year sales of $51.35 billion for the current fiscal year, with estimates ranging from $50.82 billion to $51.93 billion. For the next fiscal year, analysts anticipate that the business will report sales of $54.19 billion, with estimates ranging from $53.11 billion to $55.25 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Charter Communications.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Thursday, July 29th. The company reported $5.29 EPS for the quarter, beating analysts’ consensus estimates of $4.81 by $0.48. Charter Communications had a net margin of 7.78% and a return on equity of 13.08%. The company had revenue of $12.80 billion during the quarter, compared to analyst estimates of $12.62 billion. During the same period in the prior year, the firm earned $3.63 earnings per share. The business’s quarterly revenue was up 9.5% on a year-over-year basis.
A number of equities analysts have recently weighed in on the company. Morgan Stanley upped their target price on Charter Communications from $800.00 to $825.00 and gave the company an “overweight” rating in a report on Tuesday, August 3rd. Sanford C. Bernstein downgraded Charter Communications from an “outperform” rating to a “market perform” rating and set a $788.00 target price on the stock. in a report on Monday, July 12th. upped their target price on Charter Communications from $708.00 to $724.00 and gave the company a “neutral” rating in a report on Wednesday, June 2nd. Benchmark upped their target price on Charter Communications from $820.00 to $900.00 and gave the company a “buy” rating in a report on Monday, August 2nd. Finally, Citigroup upped their target price on Charter Communications from $708.00 to $724.00 and gave the company a “neutral” rating in a report on Wednesday, June 2nd. Eight equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $808.57.
In other news, COO John Bickham sold 14,376 shares of the stock in a transaction that occurred on Thursday, June 17th. The stock was sold at an average price of $685.13, for a total value of $9,849,428.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Jonathan Hargis sold 7,254 shares of the stock in a transaction that occurred on Tuesday, August 3rd. The shares were sold at an average price of $764.94, for a total value of $5,548,874.76. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Amica Mutual Insurance Co. lifted its position in Charter Communications by 80.8% in the second quarter. Amica Mutual Insurance Co. now owns 15,815 shares of the company’s stock worth $11,410,000 after purchasing an additional 7,066 shares during the period. Banco Santander S.A. raised its stake in Charter Communications by 32.1% during the first quarter. Banco Santander S.A. now owns 10,968 shares of the company’s stock worth $6,768,000 after acquiring an additional 2,668 shares in the last quarter. ARS Investment Partners LLC raised its stake in Charter Communications by 15.5% during the first quarter. ARS Investment Partners LLC now owns 32,749 shares of the company’s stock worth $20,207,000 after acquiring an additional 4,403 shares in the last quarter. Centaurus Financial Inc. raised its stake in Charter Communications by 2.8% during the first quarter. Centaurus Financial Inc. now owns 9,637 shares of the company’s stock worth $5,946,000 after acquiring an additional 260 shares in the last quarter. Finally, Profund Advisors LLC raised its stake in Charter Communications by 20.8% during the first quarter. Profund Advisors LLC now owns 20,004 shares of the company’s stock worth $12,343,000 after acquiring an additional 3,438 shares in the last quarter. 69.96% of the stock is owned by hedge funds and other institutional investors.
Shares of CHTR opened at $811.33 on Friday. The company has a market capitalization of $149.14 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 1.07 and a beta of 1.01. Charter Communications has a fifty-two week low of $572.46 and a fifty-two week high of $825.62. The company has a debt-to-equity ratio of 3.61, a current ratio of 0.47 and a quick ratio of 0.47. The business’s 50-day moving average is $755.41 and its 200-day moving average is $689.71.
Charter Communications Company Profile
Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.
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