Charter Communications, Inc. (NASDAQ:CHTR) Posts Earnings Results, Misses Estimates By $0.29 EPS
Charter Communications, Inc. (NASDAQ:CHTR) posted its quarterly earnings data on Thursday, July 27th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.81 by $0.29, Briefing.com reports. Charter Communications had a net margin of 2.29% and a return on equity of 1.15%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.38 billion. During the same quarter last year, the business posted $0.99 EPS. The business’s revenue for the quarter was up 3.9% on a year-over-year basis.
Charter Communications (NASDAQ CHTR) opened at 384.63 on Monday. The company has a market capitalization of $99.19 billion, a PE ratio of 110.18 and a beta of 1.09. The firm’s 50 day moving average price is $343.55 and its 200-day moving average price is $331.55. Charter Communications has a one year low of $233.00 and a one year high of $399.95.
CHTR has been the subject of a number of analyst reports. Goldman Sachs Group Inc reaffirmed a “neutral” rating on shares of Charter Communications in a research note on Wednesday, June 28th. Morgan Stanley increased their price target on shares of Charter Communications from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Monday, July 17th. Macquarie reaffirmed a “buy” rating and set a $365.00 price objective on shares of Charter Communications in a research report on Tuesday, May 2nd. Deutsche Bank AG lowered their price target on Charter Communications from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, May 4th. Finally, HSBC Holdings plc reiterated a “hold” rating and set a $360.00 price target (up previously from $300.00) on shares of Charter Communications in a report on Tuesday, August 1st. Twelve investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $348.54.
In related news, Director David C. Merritt bought 1,200 shares of Charter Communications stock in a transaction dated Thursday, May 11th. The shares were bought at an average cost of $326.31 per share, with a total value of $391,572.00. Following the acquisition, the director now owns 8,174 shares in the company, valued at approximately $2,667,257.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction on Wednesday, May 10th. The stock was sold at an average price of $323.62, for a total value of $323,620.00. Following the sale, the director now directly owns 13,436 shares in the company, valued at $4,348,158.32. The disclosure for this sale can be found here. Corporate insiders own 0.56% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Addison Capital Co increased its stake in shares of Charter Communications by 229.7% in the first quarter. Addison Capital Co now owns 5,216 shares of the company’s stock valued at $1,707,000 after buying an additional 3,634 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Charter Communications during the fourth quarter valued at $7,982,000. Jennison Associates LLC increased its stake in shares of Charter Communications by 32.3% in the first quarter. Jennison Associates LLC now owns 3,286,979 shares of the company’s stock valued at $1,075,894,000 after buying an additional 801,716 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in shares of Charter Communications by 1.0% in the first quarter. Cornerstone Capital Management Holdings LLC. now owns 38,248 shares of the company’s stock valued at $12,519,000 after buying an additional 389 shares in the last quarter. Finally, Ibex Wealth Advisors increased its stake in shares of Charter Communications by 8.0% in the fourth quarter. Ibex Wealth Advisors now owns 3,762 shares of the company’s stock valued at $1,160,000 after buying an additional 278 shares in the last quarter. Institutional investors and hedge funds own 74.43% of the company’s stock.
About Charter Communications
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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