Charter Communications, Inc. (CHTR) Expected to Announce Quarterly Sales of $10.38 Billion
Wall Street brokerages expect Charter Communications, Inc. (NASDAQ:CHTR) to post sales of $10.38 billion for the current fiscal quarter, Zacks reports. Twelve analysts have provided estimates for Charter Communications’ earnings. The lowest sales estimate is $10.32 billion and the highest is $10.46 billion. Charter Communications posted sales of $6.16 billion in the same quarter last year, which would indicate a positive year over year growth rate of 68.5%. The firm is expected to announce its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that Charter Communications will report full year sales of $10.38 billion for the current financial year, with estimates ranging from $41.18 billion to $41.87 billion. For the next fiscal year, analysts forecast that the company will post sales of $43.96 billion per share, with estimates ranging from $42.99 billion to $44.78 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Charter Communications.
Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Tuesday, May 2nd. The company reported $0.57 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by $0.42. Charter Communications had a net margin of 10.55% and a return on equity of 2.13%. The company had revenue of $10.16 billion for the quarter, compared to the consensus estimate of $10.26 billion. During the same period in the previous year, the business earned ($1.68) EPS. Charter Communications’s revenue for the quarter was up 301.7% compared to the same quarter last year.
Several equities research analysts have weighed in on the company. Macquarie restated a “buy” rating and set a $365.00 price target on shares of Charter Communications in a report on Tuesday, May 2nd. Deutsche Bank AG dropped their price objective on Charter Communications from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, May 4th. SunTrust Banks, Inc. initiated coverage on Charter Communications in a report on Tuesday, April 18th. They issued a “buy” rating and a $380.00 price objective on the stock. Evercore ISI reiterated an “overweight” rating on shares of Charter Communications in a report on Monday, February 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $356.00 price objective on shares of Charter Communications in a report on Friday, April 21st. Eleven analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Charter Communications currently has an average rating of “Buy” and an average target price of $327.67.
Shares of Charter Communications (NASDAQ:CHTR) traded up 0.54% during midday trading on Friday, reaching $340.18. The company had a trading volume of 501,456 shares. The company’s 50 day moving average price is $332.71 and its 200-day moving average price is $317.95. The company has a market capitalization of $91.01 billion, a P/E ratio of 23.11 and a beta of 1.11. Charter Communications has a 52 week low of $214.06 and a 52 week high of $355.00.
In related news, Director Craig A. Jacobson sold 1,000 shares of the company’s stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $323.62, for a total value of $323,620.00. Following the completion of the sale, the director now directly owns 13,436 shares of the company’s stock, valued at approximately $4,348,158.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Jonathan Hargis sold 6,000 shares of the company’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $325.75, for a total value of $1,954,500.00. Following the completion of the sale, the executive vice president now directly owns 13,049 shares of the company’s stock, valued at $4,250,711.75. The disclosure for this sale can be found here. 0.56% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in CHTR. WFG Advisors LP boosted its stake in Charter Communications by 6,820.0% in the fourth quarter. WFG Advisors LP now owns 1,038 shares of the company’s stock worth $113,000 after buying an additional 1,023 shares during the last quarter. Burt Wealth Advisors bought a new stake in Charter Communications during the first quarter worth $115,000. Quadrant Capital Group LLC boosted its stake in Charter Communications by 0.5% in the first quarter. Quadrant Capital Group LLC now owns 643 shares of the company’s stock worth $197,000 after buying an additional 3 shares during the last quarter. Trust Co bought a new stake in Charter Communications during the fourth quarter worth $200,000. Finally, Boston Family Office LLC bought a new stake in Charter Communications during the first quarter worth $202,000. 74.71% of the stock is owned by hedge funds and other institutional investors.
About Charter Communications
Charter Communications, Inc (Charter) is a provider of cable services, offering various entertainments, information and communications solutions to residential and commercial customers. The Company’s services include Video Services, Internet Services, Voice Services, Commercial Services and Advertising Services.
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