Stamford, Connecticut-based Charter Communications, Inc. (CHTR) is a leading telecommunications and media company renowned for its extensive range of services, including cable television, high-speed internet, and voice services. With a market cap of $42 billion, Charter Communications is a formidable telecom industry player. Competing vigorously with other industry giants, Charter's main rivals include Comcast (CMCSA), which dominates the cable and broadband market.
Companies valued at $10 billion or more are generally considered "large-caps," and Charter Communications fits this criterion perfectly, signifying its substantial size, stability, and influence in the telecommunications sector. CHTR continually advances the industry by focusing on innovative connectivity solutions and responsible business practices.
CHTR shares are trading 36.4% below their 52-week high of $458.30, which they hit on Oct. 16, 2023. CHTR has seen a 1.3% gain over the last three months compared to the marginal decline seen in the Dow Jones Industrial Average ($DOWI) during the same period.
In the long term, CHTR is down 25% on a YTD basis, and the shares have declined 13.4% over the past 52 weeks. In comparison, the Dow is up 3.8% in 2024 and 16.1% over the past year.
To confirm its recent bullish trend, CHTR has been trading above its 50-day moving average since late May.
CHTR shares declined 1.7% on Apr. 26, when it released the Q1 earnings report, but gained 2% the following day. The company reported a profit of 1.11 billion, translating to $7.55 per share, falling short of Wall Street expectations. Additionally, the company's revenue for the period was $13.68 billion, slightly below the $13.7 billion forecast.
Highlighting the contrast in performance, rival CMCSA has outperformed CHTR, with a 13% decline on a YTD basis.
Given CHTR's recent outperformance compared to DOWI, analysts are moderately optimistic about its prospects. The stock has a consensus rating of "Moderate Buy" from 21 analysts in coverage. The mean price target of $340.70 reflects a 16.8% premium over current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
