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Charter Communications (NASDAQ:CHTR) Reaches New 12-Month Low on Disappointing Earnings

Charter Communications logo with Consumer Discretionary background

Key Points

  • Charter Communications' share price dropped to a new 52-week low of $307.34 after the company reported quarterly earnings of $9.18 per share, missing estimates by $0.88.
  • The company generated $13.77 billion in revenue, slightly exceeding analyst expectations, while also showing a year-over-year revenue increase of 0.6%.
  • Credit rating agencies have mixed views on Charter Communications, with some analysts upgrading the stock to "buy" while others maintain "underperform" ratings, reflecting uncertainty in future performance.
  • Five stocks to consider instead of Charter Communications.
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Charter Communications, Inc. (NASDAQ:CHTR - Get Free Report)'s share price hit a new 52-week low during trading on Saturday after the company announced weaker than expected quarterly earnings. The company traded as low as $307.34 and last traded at $309.75, with a volume of 9630882 shares traded. The stock had previously closed at $380.00.

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

Analyst Upgrades and Downgrades

Several research firms have weighed in on CHTR. Oppenheimer raised Charter Communications from a "market perform" rating to an "outperform" rating and set a $500.00 price target on the stock in a research report on Friday, May 16th. Wolfe Research raised Charter Communications from an "underperform" rating to a "peer perform" rating in a research report on Friday, June 20th. BNP Paribas reissued an "underperform" rating and set a $290.00 target price on shares of Charter Communications in a report on Thursday, April 10th. Wells Fargo & Company boosted their target price on Charter Communications from $380.00 to $400.00 and gave the stock an "equal weight" rating in a report on Monday, April 28th. Finally, Arete Research raised Charter Communications to a "strong sell" rating in a report on Tuesday, July 8th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $422.37.

Read Our Latest Stock Report on Charter Communications

Institutional Trading of Charter Communications

Several institutional investors have recently added to or reduced their stakes in CHTR. American Century Companies Inc. boosted its stake in Charter Communications by 10.2% in the 4th quarter. American Century Companies Inc. now owns 13,919 shares of the company's stock valued at $4,771,000 after purchasing an additional 1,286 shares during the period. Signature Estate & Investment Advisors LLC bought a new stake in Charter Communications in the 4th quarter valued at $208,000. Korea Investment CORP boosted its stake in Charter Communications by 139.6% in the 4th quarter. Korea Investment CORP now owns 47,253 shares of the company's stock valued at $16,197,000 after purchasing an additional 27,534 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Charter Communications by 6.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 159,570 shares of the company's stock worth $57,182,000 after purchasing an additional 9,800 shares in the last quarter. Finally, UniSuper Management Pty Ltd grew its holdings in shares of Charter Communications by 19.1% during the 4th quarter. UniSuper Management Pty Ltd now owns 8,694 shares of the company's stock worth $2,980,000 after purchasing an additional 1,393 shares in the last quarter. 81.76% of the stock is currently owned by institutional investors.

Charter Communications Trading Down 18.5%

The company 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 company has a debt-to-equity ratio of 4.54, a quick ratio of 0.36 and a current ratio of 0.36. The firm has a fifty day moving average price of $396.12 and a 200-day moving average price of $373.23.

Charter Communications Company Profile

(Get Free Report)

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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