Charter Communications Inc (NASDAQ:CHTR) Expected to Announce Quarterly Sales of $11.40 Billion

Equities analysts forecast that Charter Communications Inc (NASDAQ:CHTR) will announce $11.40 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Fourteen analysts have issued estimates for Charter Communications’ earnings, with the lowest sales estimate coming in at $11.35 billion and the highest estimate coming in at $11.44 billion. Charter Communications reported sales of $10.85 billion during the same quarter last year, which indicates a positive year over year growth rate of 5.1%. The business is expected to announce its next earnings report on Tuesday, July 30th.

On average, analysts expect that Charter Communications will report full year sales of $45.77 billion for the current financial year, with estimates ranging from $45.62 billion to $46.02 billion. For the next financial year, analysts anticipate that the business will report sales of $48.30 billion, with estimates ranging from $47.86 billion to $49.10 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Charter Communications.

Charter Communications (NASDAQ:CHTR) last announced its earnings results on Tuesday, April 30th. The company reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.34 by ($0.23). Charter Communications had a net margin of 2.98% and a return on equity of 2.94%. The company had revenue of $11.21 billion during the quarter, compared to analysts’ expectations of $11.20 billion. During the same quarter last year, the business posted $0.70 earnings per share. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year.

A number of analysts recently weighed in on the company. UBS Group lifted their price target on Charter Communications from $383.00 to $421.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. BidaskClub downgraded Charter Communications from a “buy” rating to a “hold” rating in a research note on Monday, April 1st. ValuEngine upgraded Charter Communications from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. Rosenblatt Securities assumed coverage on Charter Communications in a research note on Thursday, June 13th. They issued a “buy” rating and a $480.00 price target on the stock. Finally, Zacks Investment Research downgraded Charter Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $384.07.

Shares of CHTR stock opened at $391.41 on Friday. The company has a 50 day moving average of $384.74. Charter Communications has a twelve month low of $271.56 and a twelve month high of $401.38. The stock has a market cap of $87.33 billion, a P/E ratio of 74.98, a P/E/G ratio of 1.26 and a beta of 1.29. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.62.

In related news, Director Craig A. Jacobson sold 1,325 shares of Charter Communications stock in a transaction on Monday, May 6th. The stock was sold at an average price of $375.18, for a total transaction of $497,113.50. Following the completion of the transaction, the director now directly owns 12,773 shares of the company’s stock, valued at $4,792,174.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Lance Conn sold 927 shares of Charter Communications stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total value of $370,800.00. Following the transaction, the director now directly owns 9,552 shares of the company’s stock, valued at $3,820,800. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Longview Partners Guernsey LTD acquired a new position in Charter Communications during the fourth quarter worth $846,691,000. Egerton Capital UK LLP raised its holdings in Charter Communications by 21.4% during the first quarter. Egerton Capital UK LLP now owns 2,846,860 shares of the company’s stock worth $987,604,000 after purchasing an additional 502,358 shares during the last quarter. Geode Capital Management LLC raised its holdings in Charter Communications by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 2,218,112 shares of the company’s stock worth $630,980,000 after purchasing an additional 167,729 shares during the last quarter. Northern Trust Corp raised its holdings in Charter Communications by 1.5% during the fourth quarter. Northern Trust Corp now owns 1,998,946 shares of the company’s stock worth $569,640,000 after purchasing an additional 28,704 shares during the last quarter. Finally, Norges Bank acquired a new position in Charter Communications during the fourth quarter worth $360,022,000. 71.91% of the stock is owned by hedge funds and other institutional investors.

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, and spectrum mobile and spectrum guide services, as well as ad-supported free online video products.

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

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