Brokers Set Expectations for Charter Communications, Inc.’s Q2 2018 Earnings (CHTR)
Charter Communications, Inc. (NASDAQ:CHTR) – SunTrust Banks decreased their Q2 2018 EPS estimates for Charter Communications in a report issued on Wednesday. SunTrust Banks analyst G. Miller now anticipates that the company will post earnings per share of $1.85 for the quarter, down from their prior forecast of $1.86. SunTrust Banks has a “Buy” rating and a $380.00 price objective on the stock. SunTrust Banks also issued estimates for Charter Communications’ Q3 2018 earnings at $2.43 EPS, Q4 2018 earnings at $3.60 EPS, FY2018 earnings at $8.90 EPS and Q3 2019 earnings at $3.90 EPS.
Charter Communications (NASDAQ:CHTR) last released its earnings results on Thursday, October 26th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.77). The business had revenue of $10.46 billion for the quarter, compared to the consensus estimate of $10.49 billion. Charter Communications had a net margin of 1.93% and a return on equity of 0.91%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.69 EPS.
CHTR has been the topic of several other research reports. Telsey Advisory Group cut Charter Communications from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $450.00 to $340.00 in a research note on Tuesday, September 5th. Zacks Investment Research raised Charter Communications from a “sell” rating to a “hold” rating in a research report on Friday, November 10th. Barclays decreased their price objective on Charter Communications from $354.00 to $283.00 and set an “equal weight” rating for the company in a report on Friday, October 27th. Evercore ISI raised their target price on Charter Communications from $360.00 to $438.00 and gave the stock an “outperform” rating in a research note on Friday, September 15th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $365.00 price target on shares of Charter Communications in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $378.12.
Charter Communications (NASDAQ CHTR) opened at $325.22 on Friday. Charter Communications has a 52 week low of $275.34 and a 52 week high of $408.83. The stock has a market capitalization of $80,211.53, a P/E ratio of 200.40, a P/E/G ratio of 6.00 and a beta of 1.05. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.55.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AXA lifted its position in Charter Communications by 3.1% in the third quarter. AXA now owns 40,969 shares of the company’s stock valued at $14,889,000 after acquiring an additional 1,242 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Charter Communications in the third quarter valued at $180,000. GSA Capital Partners LLP purchased a new stake in shares of Charter Communications in the third quarter valued at about $2,351,000. IFM Investors Pty Ltd purchased a new stake in shares of Charter Communications in the third quarter valued at about $2,191,000. Finally, Fieldpoint Private Securities LLC purchased a new stake in shares of Charter Communications in the third quarter valued at about $209,000. 72.22% of the stock is owned by hedge funds and other institutional investors.
In related news, CFO Christopher L. Winfrey purchased 3,100 shares of Charter Communications stock in a transaction that occurred on Monday, October 30th. The stock was purchased at an average cost of $323.61 per share, with a total value of $1,003,191.00. Following the completion of the transaction, the chief financial officer now directly owns 49,916 shares in the company, valued at $16,153,316.76. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.56% of the stock is owned by insiders.
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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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