Wall Street analysts expect that Charter Communications Inc (NASDAQ:CHTR) will post sales of $12.02 billion for the current quarter, according to Zacks Investment Research. Twelve analysts have made estimates for Charter Communications' earnings, with estimates ranging from $11.81 billion to $12.18 billion. Charter Communications reported sales of $11.45 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The business is expected to issue its next earnings results before the market opens on Friday, October 30th.
According to Zacks, analysts expect that Charter Communications will report full year sales of $47.88 billion for the current financial year, with estimates ranging from $47.28 billion to $48.35 billion. For the next financial year, analysts expect that the company will report sales of $50.28 billion, with estimates ranging from $48.67 billion to $51.70 billion. Zacks' sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Charter Communications.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings results on Friday, July 31st. The company reported $3.63 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $2.53 by $1.10. The firm had revenue of $11.70 billion for the quarter, compared to analysts' expectations of $11.61 billion. Charter Communications had a return on equity of 6.05% and a net margin of 4.85%. The company's revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 earnings per share.
CHTR has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on Charter Communications from $650.00 to $700.00 and gave the company an "overweight" rating in a research note on Monday, August 3rd. Citigroup increased their price objective on Charter Communications from $700.00 to $735.00 and gave the stock a "buy" rating in a report on Friday. Benchmark raised their price target on Charter Communications from $600.00 to $640.00 and gave the company a "buy" rating in a report on Monday, August 3rd. TD Securities increased their price objective on Charter Communications from $560.00 to $600.00 and gave the company a "hold" rating in a research report on Tuesday, August 4th. Finally, Nomura Instinet raised Charter Communications from a "neutral" rating to a "buy" rating and raised their target price for the stock from $500.00 to $600.00 in a research report on Friday, July 10th. Six research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Charter Communications currently has an average rating of "Buy" and an average target price of $632.46.
Shares of CHTR opened at $617.66 on Tuesday. The firm has a market cap of $126.56 billion, a P/E ratio of 58.77, a P/E/G ratio of 1.09 and a beta of 1.04. The stock has a 50 day simple moving average of $621.16 and a two-hundred day simple moving average of $555.61. The company has a debt-to-equity ratio of 2.13, a current ratio of 0.52 and a quick ratio of 0.52. Charter Communications has a 1 year low of $345.67 and a 1 year high of $663.70.
In related news, CMO Jonathan Hargis sold 6,558 shares of the business's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $616.10, for a total value of $4,040,383.80. Following the transaction, the chief marketing officer now owns 34,682 shares in the company, valued at approximately $21,367,580.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Bickham sold 75,265 shares of the business's stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $571.75, for a total value of $43,032,763.75. The disclosure for this sale can be found here. Insiders have sold a total of 97,782 shares of company stock valued at $56,565,326 over the last ninety days. 1.18% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC boosted its stake in shares of Charter Communications by 15.0% during the 2nd quarter. FMR LLC now owns 1,707,452 shares of the company's stock worth $870,870,000 after acquiring an additional 222,339 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Charter Communications by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,320,848 shares of the company's stock valued at $673,685,000 after buying an additional 22,322 shares in the last quarter. Altarock Partners LLC lifted its stake in Charter Communications by 5.1% in the 2nd quarter. Altarock Partners LLC now owns 1,151,106 shares of the company's stock valued at $587,110,000 after buying an additional 55,552 shares in the last quarter. FIL Ltd lifted its stake in Charter Communications by 1.5% in the 2nd quarter. FIL Ltd now owns 920,354 shares of the company's stock valued at $469,417,000 after buying an additional 13,584 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Charter Communications by 18.4% in the 2nd quarter. Principal Financial Group Inc. now owns 916,725 shares of the company's stock valued at $467,566,000 after acquiring an additional 142,733 shares during the last quarter. 70.47% of the stock is currently owned by institutional investors.
About Charter Communications
Charter Communications, Inc, through its subsidiaries, provides cable services to residential and commercial customers in the United States. It offers subscription-based video services, including video on demand, high definition television, digital video recorder, pay-per-view, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.
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