Brokers Set Expectations for Charter Communications, Inc.’s Q2 2023 Earnings (NASDAQ:CHTR)

Posted by on May 4th, 2023

Charter Communications, Inc. (NASDAQ:CHTR – Get Rating) – Equities research analysts at Oppenheimer raised their Q2 2023 earnings estimates for shares of Charter Communications in a report released on Monday, May 1st. Oppenheimer analyst T. Horan now forecasts that the company will post earnings of $8.07 per share for the quarter, up from their previous forecast of $7.85. The consensus estimate for Charter Communications’ current full-year earnings is $32.27 per share. Oppenheimer also issued estimates for Charter Communications’ Q3 2023 earnings at $7.99 EPS, Q4 2023 earnings at $8.49 EPS, FY2024 earnings at $34.71 EPS, FY2025 earnings at $37.49 EPS, FY2026 earnings at $41.40 EPS and FY2027 earnings at $45.21 EPS.

Other analysts also recently issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of Charter Communications from $440.00 to $460.00 and gave the company an “outperform” rating in a report on Friday, March 31st. Cfra raised shares of Charter Communications from an “underweight” rating to a “market weight” rating in a research note on Wednesday, March 29th. Pivotal Research dropped their price objective on shares of Charter Communications from $550.00 to $500.00 in a research note on Monday. Loop Capital decreased their price target on shares of Charter Communications from $405.00 to $390.00 in a research report on Tuesday, January 31st. Finally, Wells Fargo & Company upped their price target on shares of Charter Communications from $340.00 to $410.00 and gave the company an “equal weight” rating in a research report on Monday, January 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Charter Communications presently has a consensus rating of “Hold” and an average price target of $482.43.

Charter Communications Stock Down 0.1 %

Shares of CHTR opened at $356.90 on Wednesday. Charter Communications has a 52 week low of $297.66 and a 52 week high of $515.66. The firm has a market cap of $54.48 billion, a P/E ratio of 11.60, a price-to-earnings-growth ratio of 0.44 and a beta of 1.10. The firm’s 50-day simple moving average is $350.22 and its 200 day simple moving average is $363.08. The company has a debt-to-equity ratio of 7.66, a quick ratio of 0.33 and a current ratio of 0.33.

Charter Communications (NASDAQ:CHTR – Get Rating) last released its quarterly earnings data on Friday, April 28th. The company reported $6.65 earnings per share for the quarter, missing the consensus estimate of $7.21 by ($0.56). The firm had revenue of $13.65 billion for the quarter, compared to analyst estimates of $13.61 billion. Charter Communications had a return on equity of 37.20% and a net margin of 9.36%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.90 earnings per share.

Insider Activity at Charter Communications

In related news, Chairman Thomas Rutledge sold 30,000 shares of the business’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $383.64, for a total transaction of $11,509,200.00. Following the sale, the chairman now directly owns 17,493 shares in the company, valued at approximately $6,711,014.52. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.32% of the stock is owned by company insiders.

Institutional Trading of Charter Communications

A number of hedge funds have recently made changes to their positions in the stock. Ellevest Inc. lifted its stake in Charter Communications by 54.2% in the fourth quarter. Ellevest Inc. now owns 74 shares of the company’s stock worth $25,000 after purchasing an additional 26 shares during the last quarter. Accurate Wealth Management LLC purchased a new stake in shares of Charter Communications during the fourth quarter worth about $28,000. MCF Advisors LLC boosted its holdings in shares of Charter Communications by 69.5% during the third quarter. MCF Advisors LLC now owns 100 shares of the company’s stock worth $30,000 after purchasing an additional 41 shares during the period. AM Squared Ltd purchased a new stake in shares of Charter Communications during the fourth quarter worth about $34,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Charter Communications by 292.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 110 shares of the company’s stock worth $37,000 after purchasing an additional 82 shares during the period. 66.05% of the stock is owned by institutional investors.

Charter Communications Company Profile

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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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