Charter Communications, Inc. (NASDAQ:CHTR) Expected to Announce Quarterly Sales of $13.21 Billion

Wall Street analysts predict that Charter Communications, Inc. (NASDAQ:CHTR) will report sales of $13.21 billion for the current quarter, Zacks Investment Research reports. Thirteen analysts have made estimates for Charter Communications’ earnings. The highest sales estimate is $13.39 billion and the lowest is $12.95 billion. Charter Communications reported sales of $12.62 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.7%. The firm is scheduled to issue its next earnings report on Friday, February 4th.

According to Zacks, analysts expect that Charter Communications will report full year sales of $51.58 billion for the current year, with estimates ranging from $51.03 billion to $51.93 billion. For the next year, analysts anticipate that the company will report sales of $54.23 billion, with estimates ranging from $53.22 billion to $55.39 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Charter Communications.

Charter Communications (NASDAQ:CHTR) last released its quarterly earnings data on Thursday, October 28th. The company reported $6.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.71 by $0.79. Charter Communications had a net margin of 8.40% and a return on equity of 16.19%. The firm had revenue of $13.15 billion for the quarter, compared to analyst estimates of $12.95 billion. During the same quarter in the prior year, the business earned $3.90 earnings per share. The business’s quarterly revenue was up 9.2% compared to the same quarter last year.

CHTR has been the topic of a number of recent analyst reports. Wells Fargo & Company lowered their price target on shares of Charter Communications from $665.00 to $603.00 and set an “underweight” rating on the stock in a report on Monday, November 1st. Argus increased their price target on shares of Charter Communications from $775.00 to $900.00 and gave the stock a “buy” rating in a report on Wednesday, August 11th. They noted that the move was a valuation call. Truist Securities increased their price target on shares of Charter Communications from $750.00 to $830.00 and gave the stock a “buy” rating in a report on Monday, August 2nd. Pivotal Research increased their price objective on shares of Charter Communications from $820.00 to $1,000.00 and gave the company a “buy” rating in a report on Tuesday, August 24th. Finally, Morgan Stanley decreased their price objective on shares of Charter Communications from $825.00 to $810.00 and set an “overweight” rating on the stock in a report on Tuesday, October 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $803.21.

NASDAQ CHTR traded down $2.05 during mid-day trading on Friday, reaching $672.69. 829,265 shares of the stock were exchanged, compared to its average volume of 964,243. The business’s 50 day moving average is $712.51 and its 200-day moving average is $726.45. Charter Communications has a 1 year low of $585.45 and a 1 year high of $825.62. The company has a market capitalization of $120.61 billion, a P/E ratio of 30.65, a P/E/G ratio of 0.88 and a beta of 0.96. The company has a debt-to-equity ratio of 3.97, a quick ratio of 0.29 and a current ratio of 0.29.

In other news, CEO Thomas Rutledge sold 43,106 shares of the firm’s stock in a transaction that occurred on Monday, November 22nd. The shares were sold at an average price of $674.34, for a total value of $29,068,100.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Several large investors have recently modified their holdings of CHTR. Capital International Investors increased its holdings in shares of Charter Communications by 0.3% in the 2nd quarter. Capital International Investors now owns 10,273,843 shares of the company’s stock valued at $7,411,948,000 after acquiring an additional 34,339 shares during the period. Dodge & Cox increased its holdings in shares of Charter Communications by 0.8% in the 2nd quarter. Dodge & Cox now owns 5,708,161 shares of the company’s stock valued at $4,118,153,000 after acquiring an additional 46,540 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Charter Communications by 15.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,449,342 shares of the company’s stock valued at $1,767,076,000 after acquiring an additional 321,647 shares during the period. Egerton Capital UK LLP increased its holdings in shares of Charter Communications by 20.4% in the 3rd quarter. Egerton Capital UK LLP now owns 2,100,663 shares of the company’s stock valued at $1,528,358,000 after acquiring an additional 356,510 shares during the period. Finally, GQG Partners LLC increased its holdings in shares of Charter Communications by 31.4% in the 3rd quarter. GQG Partners LLC now owns 1,888,381 shares of the company’s stock valued at $1,373,693,000 after acquiring an additional 450,710 shares during the period. Institutional investors and hedge funds own 69.90% of the company’s stock.

About Charter Communications

Charter Communications, Inc engages in the provision of broadband communications services. Its services include Spectrum TV, Spectrum Internet, and Spectrum Voice. The firm offers business-to-business Internet access, data networking, business telephone, video and music entertainment services, and wireless backhaul.

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Earnings History and Estimates for Charter Communications (NASDAQ:CHTR)

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