Oppenheimer Analysts Decrease Earnings Estimates for Charter Communications Inc (NASDAQ:CHTR)

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Charter Communications Inc (NASDAQ:CHTR) – Research analysts at Oppenheimer reduced their FY2019 earnings per share (EPS) estimates for Charter Communications in a report issued on Friday, August 16th. Oppenheimer analyst T. Horan now anticipates that the company will post earnings per share of $7.03 for the year, down from their previous estimate of $7.12.

Charter Communications (NASDAQ:CHTR) last issued its quarterly earnings data on Friday, July 26th. The company reported $1.39 earnings per share for the quarter, missing analysts’ consensus estimates of $1.79 by ($0.40). The company had revenue of $11.35 billion for the quarter, compared to analysts’ expectations of $11.40 billion. Charter Communications had a return on equity of 3.08% and a net margin of 3.04%. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 earnings per share.

A number of other equities research analysts have also recently weighed in on CHTR. Benchmark initiated coverage on Charter Communications in a research note on Thursday, August 15th. They set a “hold” rating and a $422.00 price objective for the company. Nomura increased their price target on Charter Communications from $350.00 to $380.00 and gave the company a “neutral” rating in a research note on Monday, July 29th. Raymond James increased their price target on Charter Communications from $435.00 to $460.00 and gave the company a “strong-buy” rating in a research note on Monday, July 29th. ValuEngine cut Charter Communications from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, UBS Group increased their price target on Charter Communications from $383.00 to $421.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Charter Communications presently has an average rating of “Hold” and an average price target of $416.06.

Shares of NASDAQ CHTR opened at $391.55 on Monday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.34 and a quick ratio of 0.34. The stock has a market capitalization of $86.72 billion, a P/E ratio of 75.01, a price-to-earnings-growth ratio of 1.32 and a beta of 1.23. Charter Communications has a 1-year low of $272.91 and a 1-year high of $417.13. The business has a fifty day moving average price of $395.88 and a 200 day moving average price of $372.47.

In other news, Director Lance Conn sold 927 shares of the stock in a transaction dated Tuesday, June 18th. The stock was sold at an average price of $400.00, for a total value of $370,800.00. Following the transaction, the director now directly owns 9,552 shares of the company’s stock, valued at $3,820,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig A. Jacobson sold 1,000 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $389.78, for a total value of $389,780.00. Following the completion of the transaction, the director now directly owns 11,773 shares in the company, valued at $4,588,879.94. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Harbor Advisors LLC boosted its position in Charter Communications by 1.8% during the second quarter. Harbor Advisors LLC now owns 27,656 shares of the company’s stock worth $10,929,000 after purchasing an additional 489 shares in the last quarter. Royal Bank of Canada boosted its position in Charter Communications by 11.8% during the second quarter. Royal Bank of Canada now owns 304,022 shares of the company’s stock worth $120,143,000 after purchasing an additional 32,132 shares in the last quarter. TPI Fund Managers Ltd purchased a new position in Charter Communications during the second quarter worth approximately $4,873,000. Verition Fund Management LLC boosted its position in Charter Communications by 38.2% during the second quarter. Verition Fund Management LLC now owns 2,229 shares of the company’s stock worth $881,000 after purchasing an additional 616 shares in the last quarter. Finally, HM Payson & Co. purchased a new position in Charter Communications during the second quarter worth approximately $275,000. 72.14% of the stock is currently owned by institutional investors and hedge funds.

Charter Communications Company Profile

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.

Read More: What is Cost of Capital?

Earnings History and Estimates for Charter Communications (NASDAQ:CHTR)

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