Charter Communications (NASDAQ:CHTR) issued its quarterly earnings results on Friday. The company reported $3.63 EPS for the quarter, topping the Zacks’ consensus estimate of $2.53 by $1.10, MarketWatch Earnings reports. Charter Communications had a net margin of 3.91% and a return on equity of 4.66%. The firm had revenue of $11.70 billion for the quarter, compared to analyst estimates of $11.61 billion. During the same quarter in the prior year, the firm earned $1.39 EPS. The business’s revenue for the quarter was up 3.1% compared to the same quarter last year.
CHTR stock opened at $580.00 on Friday. Charter Communications has a one year low of $345.67 and a one year high of $594.31. The company’s fifty day moving average price is $535.61 and its 200-day moving average price is $505.74. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market capitalization of $135.84 billion, a PE ratio of 54.21, a price-to-earnings-growth ratio of 1.36 and a beta of 1.03.
In related news, CAO Kevin D. Howard sold 9,241 shares of the company’s stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $550.03, for a total transaction of $5,082,827.23. Following the sale, the chief accounting officer now owns 12,081 shares of the company’s stock, valued at $6,644,912.43. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Christopher L. Winfrey sold 9,239 shares of the company’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $508.51, for a total transaction of $4,698,123.89. Following the sale, the chief financial officer now directly owns 149,917 shares in the company, valued at approximately $76,234,293.67. The disclosure for this sale can be found here. Insiders sold 55,779 shares of company stock worth $28,911,716 in the last three months. Insiders own 1.18% of the company’s stock.
CHTR has been the topic of a number of recent analyst reports. Deutsche Bank raised their price target on shares of Charter Communications from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Wednesday, July 22nd. UBS Group lowered their price target on shares of Charter Communications from $595.00 to $575.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Rosenblatt Securities reissued a “buy” rating and set a $620.00 price target (up from $600.00) on shares of Charter Communications in a research report on Sunday, May 3rd. Morgan Stanley lifted their price target on shares of Charter Communications from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Finally, TD Securities lifted their price target on shares of Charter Communications from $515.90 to $560.00 and gave the company a “hold” rating in a research report on Monday, May 4th. Six investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Charter Communications currently has a consensus rating of “Buy” and an average price target of $567.68.
About Charter Communications
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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