Charter Communications Inc. (NASDAQ: CHTR), an American telecommunications and mass media company, has a market cap of approximately $52.31 Billion along with $1.02 Billion of net income in the first quarter of this year.
Its earnings per share for first quarter (Q1) 2023 was $6.65, whereas the estimation was $7.46 which accounts for a negative 10.84% surprise. Moreover, the revenue for the same period amounted to $13.65 Billion despite the estimated figure of $13.63 Billion. For the upcoming quarter, the estimated earnings per share are $8.09, while revenue is expected to reach $13.84 Billion.
According to Yahoo Finance, the U.S.-based business news platform, the top-3 institutional holders, Dodge & Cox Inc., Vanguard Group, Inc., and Capital International Investors hold 63% of Charter Communications’s shares.
As per its revenue report, Charter Communications’s revenue for 2022 amounted to $54.02 Billion. Most of the revenue around $22.22 Billion came from its highest performing source at the moment, Residential – Internet. The greatest contribution to the revenue figure was made by the U.S. in 2022, by bringing Charter Communications Inc. $54.02 Billion.
CHTR Stock Price Analysis
According to Tradingview, a web-based social network for traders, CHTR stock closed at $367.37 with more than 1% price gain on June 30, 2023, Friday. The opening price noted by the stock was $365.36, while high was $369.78 and low was $364.09. With massive strength of active bulls in the market, the stock price climbed upside, near to its 200-day moving average.
Most of the time this week, the stock price noted bulls dominance, which further showed investors’ confidence in the company. Notably, that confidence took the RSI of the stock towards the overbought zone.
As CHTR stock was following a bullish trend from the beginning of this week, the bulls support took its price for an upside ride. Still, the bulls’ power was not able to surpass the 200-day EMA. However, if the active bulls continue to show their dominance in the upcoming week, then the stock price may reach near to that EMA.
The positive gain in CHTR stock price is said to be an effect from the recent decision by the White House. As on June 26, 2023, Monday, it announced the U.S. will spend nearly $42 Billion to make internet access universal by 2030.
Disclaimer
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing
Source: https://www.thecoinrepublic.com/2023/07/01/charter-communications-nasdaq-chtr-stock-price-analysis/