Q2 2024 Earnings Estimate for Charter Communications, Inc. (NASDAQ:CHTR) Issued By Zacks Research

Charter Communications, Inc. (NASDAQ:CHTR) – Research analysts at Zacks Research cut their Q2 2024 EPS estimates for shares of Charter Communications in a research report issued to clients and investors on Wednesday, August 30th. Zacks Research analyst A. Ganguly now forecasts that the company will post earnings per share of $8.26 for the quarter, down from their prior forecast of $8.29. The consensus estimate for Charter Communications’ current full-year earnings is $31.33 per share. Zacks Research also issued estimates for Charter Communications’ Q1 2025 earnings at $8.86 EPS, Q2 2025 earnings at $8.92 EPS and FY2025 earnings at $36.15 EPS.

Charter Communications (NASDAQ:CHTR) last posted its quarterly earnings data on Friday, July 28th. The company reported $8.05 EPS for the quarter, topping the consensus estimate of $7.66 by $0.39. The business had revenue of $13.66 billion during the quarter, compared to the consensus estimate of $13.84 billion. Charter Communications had a net margin of 8.48% and a return on equity of 35.69%. The business’s revenue for the quarter was up .4% compared to the same quarter last year. During the same period in the previous year, the firm posted $8.80 earnings per share.

A number of other equities research analysts have also commented on the company. Barclays increased their price target on shares of Charter Communications from $273.00 to $325.00 and gave the stock an “underweight” rating in a report on Monday, July 31st. Bank of America raised their target price on shares of Charter Communications from $425.00 to $450.00 and gave the stock a “neutral” rating in a report on Monday, July 31st. Loop Capital upped their price target on shares of Charter Communications from $390.00 to $405.00 and gave the company a “hold” rating in a report on Monday, July 31st. JPMorgan Chase & Co. lifted their price objective on Charter Communications from $450.00 to $500.00 in a research note on Friday, July 28th. Finally, Wells Fargo & Company boosted their price objective on Charter Communications from $410.00 to $450.00 and gave the company an “equal weight” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $499.41.

Charter Communications Stock Down 3.6 %

Charter Communications stock opened at $422.32 on Friday. The business’s 50-day simple moving average is $400.68 and its two-hundred day simple moving average is $366.15. The company has a debt-to-equity ratio of 6.84, a quick ratio of 0.33 and a current ratio of 0.33. The company has a market cap of $63.21 billion, a PE ratio of 14.19, a PEG ratio of 0.71 and a beta of 1.14. Charter Communications has a fifty-two week low of $297.66 and a fifty-two week high of $452.25.

Institutional Investors Weigh In On Charter Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Colonial Trust Co SC increased its stake in shares of Charter Communications by 111.1% in the 1st quarter. Colonial Trust Co SC now owns 76 shares of the company’s stock worth $27,000 after acquiring an additional 40 shares during the last quarter. West Branch Capital LLC acquired a new stake in Charter Communications during the second quarter worth about $36,000. AM Squared Ltd purchased a new position in Charter Communications during the fourth quarter worth about $34,000. Capital Advisors Ltd. LLC boosted its holdings in Charter Communications by 307.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 110 shares of the company’s stock valued at $40,000 after purchasing an additional 83 shares during the last quarter. Finally, Ellevest Inc. grew its stake in shares of Charter Communications by 54.1% in the 1st quarter. Ellevest Inc. now owns 114 shares of the company’s stock valued at $41,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 93.84% of the company’s stock.

Insider Buying and Selling at Charter Communications

In other news, Director Craig A. Jacobson sold 2,104 shares of the firm’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $418.16, for a total value of $879,808.64. Following the transaction, the director now directly owns 10,249 shares of the company’s stock, valued at $4,285,721.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.32% of the stock is currently owned by insiders.

About Charter Communications

Charter Communications, Inc operates as a broadband connectivity and cable operator company serving residential and commercial customers in the United States. The company offers subscription-based internet, video, and mobile and voice services; a suite of broadband connectivity services, including fixed internet, WiFi, and mobile; security suite that protects computers from viruses and spyware, and threats from malicious actors; in-home WiFi, which provides customers with high performance wireless routers and managed WiFi services to enhance their fixed wireless internet experience; out-of-home WiFi; and Spectrum WiFi services.