Equities research analysts forecast that Charter Communications Inc (NASDAQ:CHTR) will report $11.16 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for Charter Communications’ earnings. The highest sales estimate is $11.28 billion and the lowest is $11.05 billion. Charter Communications posted sales of $10.60 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 5.3%. The firm is scheduled to announce its next earnings report on Friday, February 1st.
On average, analysts expect that Charter Communications will report full year sales of $43.59 billion for the current fiscal year, with estimates ranging from $43.45 billion to $43.82 billion. For the next financial year, analysts forecast that the company will report sales of $45.65 billion, with estimates ranging from $44.83 billion to $46.50 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Charter Communications.
Charter Communications (NASDAQ:CHTR) last issued its earnings results on Friday, October 26th. The company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $1.06. Charter Communications had a return on equity of 2.39% and a net margin of 24.39%. The business had revenue of $10.89 billion during the quarter, compared to the consensus estimate of $10.93 billion. During the same period last year, the company earned $0.19 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis.
A number of analysts have issued reports on the company. Raymond James cut their target price on Charter Communications from $400.00 to $365.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 31st. Zacks Investment Research downgraded Charter Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 9th. Citigroup cut their target price on Charter Communications from $375.00 to $370.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. BidaskClub raised Charter Communications from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 2nd. Finally, Barclays set a $259.00 target price on Charter Communications and gave the stock a “sell” rating in a research note on Wednesday, October 10th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Charter Communications has an average rating of “Buy” and a consensus price target of $360.13.
In other news, insider John Bickham sold 144,672 shares of the stock in a transaction on Wednesday, October 31st. The stock was sold at an average price of $322.71, for a total transaction of $46,687,101.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.83% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. CIBC World Markets Inc. purchased a new position in Charter Communications during the 3rd quarter valued at about $2,429,000. Sarasin & Partners LLP boosted its holdings in Charter Communications by 7.2% during the 3rd quarter. Sarasin & Partners LLP now owns 68,642 shares of the company’s stock valued at $22,369,000 after acquiring an additional 4,591 shares during the period. Rafferty Asset Management LLC boosted its holdings in Charter Communications by 50.2% during the 3rd quarter. Rafferty Asset Management LLC now owns 8,615 shares of the company’s stock valued at $2,807,000 after acquiring an additional 2,881 shares during the period. American International Group Inc. boosted its holdings in Charter Communications by 1.9% during the 3rd quarter. American International Group Inc. now owns 72,084 shares of the company’s stock valued at $23,491,000 after acquiring an additional 1,321 shares during the period. Finally, Gluskin Sheff & Assoc Inc. boosted its holdings in Charter Communications by 22.5% during the 3rd quarter. Gluskin Sheff & Assoc Inc. now owns 171,651 shares of the company’s stock valued at $55,938,000 after acquiring an additional 31,536 shares during the period. Institutional investors own 71.10% of the company’s stock.
Shares of CHTR opened at $321.11 on Friday. Charter Communications has a 52-week low of $250.10 and a 52-week high of $396.64. The firm has a market capitalization of $73.41 billion, a price-to-earnings ratio of 121.17, a P/E/G ratio of 1.63 and a beta of 1.15. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.23 and a quick ratio of 0.23.
Charter Communications Company Profile
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, spectrum guide services, and a package of basic video programming, as well as ad-supported free online video products.
See Also: Why do companies engage in swaps?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Charter Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Charter Communications and related companies with MarketBeat.com's FREE daily email newsletter.