Wall Street analysts expect Charter Communications, Inc. (NASDAQ:CHTR) to report $10.49 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for Charter Communications’ earnings, with the lowest sales estimate coming in at $10.43 billion and the highest estimate coming in at $10.69 billion. Charter Communications reported sales of $10.04 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.5%. The company is expected to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Charter Communications will report full-year sales of $10.49 billion for the current year, with estimates ranging from $41.18 billion to $42.11 billion. For the next fiscal year, analysts expect that the company will post sales of $43.96 billion per share, with estimates ranging from $42.99 billion to $44.75 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Charter Communications.
Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings results on Thursday, July 27th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.29. Charter Communications had a return on equity of 1.15% and a net margin of 2.29%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. During the same quarter in the previous year, the business earned $0.99 earnings per share. Charter Communications’s revenue was up 3.9% compared to the same quarter last year.
CHTR has been the topic of several research reports. Morgan Stanley increased their price target on shares of Charter Communications from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Monday, July 17th. Wunderlich lowered shares of Charter Communications from a “buy” rating to a “hold” rating and lowered their price target for the company from $360.00 to $350.00 in a research report on Wednesday, May 3rd. Deutsche Bank AG lowered their price target on shares of Charter Communications from $400.00 to $390.00 and set a “buy” rating on the stock in a research report on Thursday, May 4th. Wells Fargo & Company lowered shares of Charter Communications from an “outperform” rating to a “market perform” rating and set a $335.00 price target on the stock. in a research report on Wednesday, May 3rd. Finally, BidaskClub lowered shares of Charter Communications from a “buy” rating to a “hold” rating in a research report on Thursday, June 22nd. Eleven analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $377.63.
In other Charter Communications news, EVP Jonathan Hargis sold 10,976 shares of the stock in a transaction that occurred on 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 transaction, the executive vice president now owns 18,025 shares of the company’s stock, valued at $7,191,975. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.56% of the company’s stock.
A number of institutional investors have recently bought and sold shares of CHTR. Grandfield & Dodd LLC bought a new position in Charter Communications during the first quarter worth $219,000. Canada Pension Plan Investment Board increased its position in Charter Communications by 224,189.3% in the first quarter. Canada Pension Plan Investment Board now owns 62,801 shares of the company’s stock worth $20,556,000 after buying an additional 62,773 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Charter Communications by 10.4% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 17,934 shares of the company’s stock worth $5,870,000 after buying an additional 1,696 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Charter Communications by 1.7% in the first quarter. Wetherby Asset Management Inc. now owns 3,311 shares of the company’s stock worth $1,084,000 after buying an additional 54 shares in the last quarter. Finally, Dowling & Yahnke LLC bought a new position in Charter Communications during the first quarter worth $203,000. 77.79% of the stock is currently owned by institutional investors.
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Charter Communications (NASDAQ:CHTR) traded up 0.25% during trading on Tuesday, reaching $397.45. The company had a trading volume of 420,528 shares. The firm’s 50 day moving average is $366.27 and its 200 day moving average is $339.24. Charter Communications has a one year low of $241.50 and a one year high of $408.83. The company has a market capitalization of $102.50 billion, a PE ratio of 113.85 and a beta of 1.09.
Charter Communications Company Profile
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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