Charter Communications (NASDAQ:CHTR) Announces Earnings Results

Key Points

• Charter Communications reported earnings of $9.18 per share for the quarter, falling short of the consensus estimate of $10.06, despite revenue of $13.77 billion slightly surpassing analyst expectations.
• The company has a significant debt-to-equity ratio of 4.54 and is currently trading with a market capitalization of approximately $43.48 billion, but showed a year-over-year revenue increase of 0.6%.
• Recent analyst activity includes several rating changes, with a consensus rating of "Hold" and a price target averaging $422.37, reflecting varying outlooks on the company's future performance.

Charter Communications (NASDAQ:CHTR - Get Free Report) issued its quarterly earnings results on Friday. The company reported $9.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.06 by ($0.88), Zacks reports. Charter Communications had a net margin of 9.42% and a return on equity of 27.70%. The firm had revenue of $13.77 billion for the quarter, compared to analyst estimates of $13.76 billion. During the same period last year, the company earned $8.49 EPS. The company's revenue was up .6% compared to the same quarter last year.

Charter Communications Stock Performance

NASDAQ:CHTR traded down $70.25 during mid-day trading on Friday, hitting $309.75. 9,630,882 shares of the stock were exchanged, compared to its average volume of 1,249,144. The stock has a market capitalization of $43.48 billion, a price-to-earnings ratio of 8.64, a price-to-earnings-growth ratio of 0.41 and a beta of 1.08. The firm's 50-day simple moving average is $396.12 and its 200 day simple moving average is $373.23. The company has a debt-to-equity ratio of 4.54, a quick ratio of 0.36 and a current ratio of 0.36. Charter Communications has a fifty-two week low of $307.34 and a fifty-two week high of $437.06.

Wall Street Analysts Forecast Growth

CHTR has been the topic of several research reports. Sanford C. Bernstein lowered Charter Communications from an "outperform" rating to a "market perform" rating and set a $410.00 price target on the stock. in a research note on Monday, June 2nd. Raymond James Financial upgraded Charter Communications from an "underperform" rating to a "market perform" rating in a report on Monday, May 19th. BNP Paribas restated an "underperform" rating and issued a $290.00 price target on shares of Charter Communications in a report on Thursday, April 10th. Bank of America upped their price objective on Charter Communications from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Tuesday, July 1st. Finally, Wall Street Zen upgraded Charter Communications from a "hold" rating to a "buy" rating in a research note on Thursday, May 1st. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Charter Communications currently has an average rating of "Hold" and a consensus price target of $422.37.

Institutional Trading of Charter Communications

Hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its stake in Charter Communications by 129.1% during the 1st quarter. AQR Capital Management LLC now owns 11,875 shares of the company's stock worth $4,356,000 after acquiring an additional 6,691 shares during the period. Acadian Asset Management LLC increased its stake in shares of Charter Communications by 451.1% in the 1st quarter. Acadian Asset Management LLC now owns 733 shares of the company's stock valued at $270,000 after purchasing an additional 600 shares during the last quarter. Jones Financial Companies Lllp grew its position in Charter Communications by 48.1% during the 1st quarter. Jones Financial Companies Lllp now owns 1,339 shares of the company's stock worth $493,000 after acquiring an additional 435 shares during the last quarter. Integrated Wealth Concepts LLC grew its position in Charter Communications by 16.3% during the 1st quarter. Integrated Wealth Concepts LLC now owns 913 shares of the company's stock worth $336,000 after acquiring an additional 128 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in Charter Communications by 141.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 94 shares of the company's stock worth $35,000 after acquiring an additional 55 shares during the last quarter. 81.76% of the stock is owned by institutional investors and hedge funds.

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.

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