Q4 2018 Earnings Forecast for Charter Communications, Inc. (CHTR) Issued By SunTrust Banks
Charter Communications, Inc. (NASDAQ:CHTR) – SunTrust Banks reduced their Q4 2018 earnings estimates for Charter Communications in a research note issued on Friday. SunTrust Banks analyst G. Miller now expects that the company will earn $3.61 per share for the quarter, down from their previous forecast of $3.87. SunTrust Banks has a “Buy” rating and a $380.00 price target on the stock.
Several other analysts also recently issued reports on CHTR. Telsey Advisory Group downgraded shares of Charter Communications from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $450.00 to $340.00 in a report on Tuesday, September 5th. Morgan Stanley upped their price objective on shares of Charter Communications from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Monday, July 17th. Wells Fargo & Company reaffirmed a “market perform” rating and set a $372.00 price objective (up from $330.00) on shares of Charter Communications in a report on Sunday, July 30th. Evercore ISI upped their price objective on shares of Charter Communications from $360.00 to $438.00 and gave the stock an “outperform” rating in a report on Friday, September 15th. Finally, Citigroup Inc. upped their price objective on shares of Charter Communications from $378.00 to $456.00 and gave the stock a “buy” rating in a report on Tuesday, August 22nd. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $379.18.
Shares of Charter Communications (NASDAQ CHTR) traded up 0.27% during mid-day trading on Monday, hitting $320.62. 486,824 shares of the stock traded hands. The company has a market cap of $82.68 billion, a price-to-earnings ratio of 91.84 and a beta of 1.10. Charter Communications has a 52 week low of $241.50 and a 52 week high of $408.83. The stock has a 50-day moving average of $361.19 and a 200-day moving average of $354.06.
Charter Communications (NASDAQ:CHTR) last announced its quarterly earnings data on Thursday, October 26th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by ($0.77). Charter Communications had a net margin of 1.93% and a return on equity of 0.91%. The company had revenue of $10.46 billion for the quarter, compared to analysts’ expectations of $10.49 billion. During the same period in the prior year, the firm earned $0.69 earnings per share. The firm’s quarterly revenue was up 4.2% on a year-over-year basis.
Several institutional investors have recently made changes to their positions in CHTR. Janus Henderson Group PLC increased its position in shares of Charter Communications by 2,099.6% during the 2nd quarter. Janus Henderson Group PLC now owns 604,019 shares of the company’s stock worth $203,464,000 after purchasing an additional 576,559 shares in the last quarter. BlackRock Inc. increased its position in Charter Communications by 4.1% in the 2nd quarter. BlackRock Inc. now owns 12,709,709 shares of the company’s stock valued at $4,281,266,000 after acquiring an additional 496,574 shares in the last quarter. Capital World Investors increased its position in Charter Communications by 4.1% in the 2nd quarter. Capital World Investors now owns 10,215,326 shares of the company’s stock valued at $3,441,033,000 after acquiring an additional 402,167 shares in the last quarter. Allen Investment Management LLC acquired a new stake in Charter Communications in the 2nd quarter valued at about $127,850,000. Finally, Jennison Associates LLC increased its position in Charter Communications by 10.1% in the 2nd quarter. Jennison Associates LLC now owns 3,628,569 shares of the company’s stock valued at $1,222,283,000 after acquiring an additional 331,597 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.
In related news, EVP Jonathan Hargis sold 10,976 shares of the stock in a transaction dated Thursday, August 10th. The shares were sold at an average price of $399.00, for a total transaction of $4,379,424.00. Following the completion of the sale, the executive vice president now owns 18,025 shares in the company, valued at approximately $7,191,975. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.56% of the company’s stock.
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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