These Analysts Cut Their Forecasts On Charter Communications After Downbeat Earnings
Portfolio Pulse from Avi Kapoor
Charter Communications, Inc (NASDAQ:CHTR) reported weaker-than-expected Q4 earnings, with revenue slightly above consensus but EPS below expectations. The company saw growth in Internet, Mobile service, and Commercial sectors, and expects higher Capex for 2024. Shares fell 16.5% after the announcement. Analysts from JP Morgan and Barclays adjusted their price targets and ratings for CHTR following the earnings report.
February 05, 2024 | 1:58 pm
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NEGATIVE IMPACT
Charter Communications reported lower-than-expected Q4 earnings but slight revenue growth. The company anticipates higher Capex in 2024. Shares plummeted 16.5% following the report, and analysts from JP Morgan and Barclays revised their price targets and ratings.
The negative earnings report and the subsequent drop in share price indicate a short-term bearish outlook for CHTR. Analysts' downgrades and lowered price targets further contribute to the negative sentiment, suggesting a potential decrease in investor confidence and stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100