tiprankstipranks
Charter Communications (NASDAQ:CHTR) Tanks on Big Q4 Miss
Market News

Charter Communications (NASDAQ:CHTR) Tanks on Big Q4 Miss

Story Highlights

Charter Communications shares are under pressure today after the company posted dismal numbers for the fourth quarter.

Charter Communications (NASDAQ:CHTR) shares plunged by nearly 15% today after the telecommunications company’s fourth-quarter EPS of $7.07 lagged expectations by $1.69. Further, revenue of $13.71 billion landed in line with estimates.

Don't Miss Our Christmas Offers:

In Q4, the number of Charter’s total residential and small and medium (SMB) business internet customers declined by 61,000. On the other hand, its total residential and SMB mobile lines ticked higher by 546,000. Further, the company’s residential internet revenue increased by 3%, and residential mobile service revenue increased by 35.7%. However, total top-line growth for the quarter came in at a marginal 0.3%.

Additionally, higher capital expenditures resulted in the company’s full-year free cash flow declining to $3.5 billion from $6.1 billion in the prior year. Moreover, its total video customers decreased by 6.8%, and total voice customers declined by 10.9% in 2023. The company’s total outstanding debt at the end of Q4 stood at $97.6 billion.

What Is the Stock Price Forecast for CHTR?

With today’s value erosion, the company’s share price has now corrected by nearly 38% over the past three years. Overall, the Street has a Moderate Buy consensus rating on Charter, and the average CHTR price target of $429 points to a 28.4% potential upside in the stock.

Read full Disclosure

Related Articles
TheFlyBuy/Sell: Wall Street’s top 10 stock calls this week
TipRanks Auto-Generated NewsdeskCharter Communications Announces Merger with Liberty Broadband
TheFlyAdobe outlook disappoints, Kroger announces $7.5B buyback: Morning Buzz
Go Ad-Free with Our App