Analysts forecast that Charter Communications, Inc. (NASDAQ:CHTR) will report sales of $12.60 billion for the current quarter, according to Zacks. Fifteen analysts have provided estimates for Charter Communications’ earnings, with estimates ranging from $12.40 billion to $12.77 billion. Charter Communications posted sales of $11.70 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The business is scheduled to issue its next earnings results on Friday, July 30th.
According to Zacks, analysts expect that Charter Communications will report full-year sales of $50.94 billion for the current fiscal year, with estimates ranging from $50.35 billion to $51.66 billion. For the next financial year, analysts expect that the business will report sales of $53.65 billion, with estimates ranging from $52.69 billion to $54.68 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Charter Communications.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Thursday, April 29th. The company reported $4.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.34 by ($0.23). Charter Communications had a return on equity of 11.02% and a net margin of 7.43%. The company had revenue of $12.52 billion for the quarter, compared to the consensus estimate of $12.50 billion. During the same quarter in the prior year, the company posted $1.86 EPS. Charter Communications’s revenue was up 6.7% compared to the same quarter last year.
CHTR has been the subject of a number of research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their target price on shares of Charter Communications from $708.00 to $724.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 2nd. HSBC upped their price target on shares of Charter Communications from $650.00 to $700.00 and gave the company a “hold” rating in a research note on Monday, May 24th. Credit Suisse Group upped their price target on shares of Charter Communications from $724.00 to $780.00 and gave the company an “outperform” rating in a research note on Monday, May 3rd. TD Securities raised shares of Charter Communications from a “hold” rating to a “buy” rating and upped their price target for the company from $750.00 to $800.00 in a research note on Thursday, June 17th. They noted that the move was a valuation call. Finally, Citigroup upped their price target on shares of Charter Communications from $708.00 to $724.00 and gave the company a “neutral” rating in a research note on Wednesday, June 2nd. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $712.24.
In other Charter Communications news, insider David Ellen sold 10,443 shares of the stock in a transaction dated Thursday, April 29th. The shares were sold at an average price of $669.65, for a total transaction of $6,993,154.95. Following the transaction, the insider now directly owns 38,711 shares in the company, valued at approximately $25,922,821.15. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David C. Merritt sold 1,000 shares of the stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $697.45, for a total transaction of $697,450.00. Following the transaction, the director now owns 8,907 shares in the company, valued at $6,212,187.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 36,966 shares of company stock worth $25,155,664. 1.00% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in CHTR. Norges Bank bought a new stake in shares of Charter Communications in the 4th quarter valued at about $732,675,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Charter Communications by 38.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,966,645 shares of the company’s stock valued at $1,213,459,000 after buying an additional 542,862 shares in the last quarter. Boston Partners bought a new stake in shares of Charter Communications in the 1st quarter valued at about $272,808,000. SG Americas Securities LLC boosted its holdings in shares of Charter Communications by 103.8% in the 1st quarter. SG Americas Securities LLC now owns 10,716 shares of the company’s stock valued at $6,612,000 after buying an additional 295,258 shares in the last quarter. Finally, Sands Capital Management LLC boosted its holdings in shares of Charter Communications by 23.0% in the 4th quarter. Sands Capital Management LLC now owns 1,190,018 shares of the company’s stock valued at $787,256,000 after buying an additional 222,677 shares in the last quarter. Institutional investors and hedge funds own 69.67% of the company’s stock.
Shares of NASDAQ:CHTR opened at $731.92 on Tuesday. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 3.09. The stock’s fifty day moving average is $691.41. Charter Communications has a fifty-two week low of $520.48 and a fifty-two week high of $733.62. The company has a market capitalization of $138.09 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 1.10 and a beta of 0.99.
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 provides Internet services, such as security suite that protects computers from viruses and spyware; in-home WiFi, which provides customers with high performance wireless routers to enhance their in-home wireless Internet experience; out-of-home WiFi; and Spectrum WiFi services, as well as video services.
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