Charter Communications, Inc. (NASDAQ:CHTR) recently saw a significant increase in its holdings by NewEdge Advisors LLC during the first quarter of this year. According to the company’s filing with the Securities and Exchange Commission (SEC), NewEdge Advisors LLC’s holdings in Charter Communications grew by 95.3%, acquiring an additional 3,270 shares to bring their total to 6,702 shares. At the end of the reporting period, these holdings were valued at $2,397,000.
On July 28th, Charter Communications released its quarterly earnings data for the same quarter. The company reported an impressive $8.05 earnings per share (EPS), surpassing market expectations by $0.39 with a consensus estimate of $7.66 EPS. Revenues for the quarter amounted to $13.66 billion, slightly lower than analysts’ predictions of $13.84 billion.
In terms of financial performance and profitability, Charter Communications demonstrated a return on equity of 35.69% and a net margin of 8.48%. While revenues were up by only 0.4% compared to the previous year’s figures during this period, the company maintained strong earnings per share growth.
Looking ahead to the current fiscal year, equities analysts anticipate that Charter Communications will post approximately 31.33 EPS.
In other news related to Charter Communications, Director Craig A. Jacobson recently sold 2,104 shares of the firm’s stock on August 2nd in a transaction worth approximately $879,808.64 USD, at an average price per share of $418.16 USD. Following this sale, Director Jacobson now holds 10,249 shares directly in the company which have an estimated value of about $4,285,721.84 USD.
These transactions were disclosed as required by law through a legal filing with the Securities & Exchange Commission and can be accessed through the provided hyperlink. It is worth noting that company insiders currently own 2.32% of Charter Communications’ stock.
These recent developments and financial figures demonstrate Charter Communications’ continuing growth and stability in the market. As a leading telecommunications company, it continues to attract investor interest while providing strong financial performance and profitability indicators. Investors will likely keep a close eye on the company’s future earnings announcements and transactions by key insiders to assess its ongoing value in the market.
Pool Corporation
POOL
Strong Buy
Updated on: 07/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Shifts in Ownership and Analysis of Charter Communications: A Potential Growth Opportunity
Charter Communications, a leading telecommunications company, has recently seen some interesting shifts in its ownership. &Other institutional investors have either increased or decreased their stakes in the company. One notable investor, Veritas Asset Management LLP, raised its position in Charter Communications by 14.2% during the first quarter of this year. This move was followed by Geode Capital Management LLC, which boosted its stake in the company by 0.5% during the fourth quarter.
The rise in ownership does not stop there, as Wellington Management Group LLP also joined the ranks by growing its holdings in Charter Communications by 8.0% during the first quarter. In addition, Morgan Stanley increased its position in the company by a significant 23.0% during the fourth quarter. Finally, Putnam Investments LLC rounded out the list of investors who have contributed to the increase in ownership with a substantial lift of 42.6% during the fourth quarter.
It is worth noting that hedge funds and other institutional investors now hold approximately 93.84% of Charter Communication’s stock, demonstrating a high level of confidence from major players in the industry.
In terms of stock performance and market cap, Charter Communications opened at $422.32 on Tuesday with a market capitalization of $63.21 billion. The price-to-earnings ratio stands at 14.19 while the price-to-earnings growth ratio is at an impressive 0.70 which indicates favorable valuation based on future earnings growth expectations.
Adding to these figures is a beta value of 1.12 which suggests that Charter Communication’s stock exhibits moderate volatility compared to market fluctuations.
The company’s financial health can be assessed through key ratios such as current ratio and quick ratio which stand at 0.33 each – implying low liquidity but not necessarily alarming given their industry and business model focused on long-term contracts and predictable revenue streams.
Looking at historical trends, Charter Communication’s 50-day moving average is $402.39 while the 200-day moving average is $365.80. This suggests that the stock has experienced a consistent upward trend over the past year, with potential for continued growth.
Moving to analyst assessments, research firms have mixed views on Charter Communications’ performance. Barclays, for example, has given the stock an “underweight” rating and increased its price target to $325.00 as of July 31st. On the other hand, Wells Fargo & Company views the stock more favorably and upped their price target from $410.00 to $450.00.
Deutsche Bank Aktiengesellschaft holds a different perspective and lowered its price objective from $425.00 to $400 following a research report on May 15th.
Loop Capital has maintained a relatively neutral stance by slightly raising their target price from $390.00 to $405.00 in July.
Bank of America falls within this neutral range as well, increasing its price target to $450.00 in line with moderate expectations.
Overall, according to Bloomberg data, Charter Communications currently boasts a consensus rating of “Moderate Buy” with a consensus target price of $499.41.
In conclusion, Charter Communications continues to attract attention from institutional investors who are actively seeking opportunities in telecommunications companies that exhibit growth potential. The company’s financials and market performance provide key insights into its stability and future prospects which can guide investment decisions by various entities in the industry.
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