Yahoo Finance Charter (CHTR) Expands WiFi for Spectrum Business Customers
Charter Communications CHTR launched advanced WiFi for its Spectrum business customers, which will benefit small and medium-sized businesses.
The advanced WiFi solution enhances customer control, improves security via Security Shield, and provides greater coverage with Spectrum WiFi Pods.
The solution enables businesses to boost their productivity with faster, more secure, and more reliable wireless connectivity.
Strengthening Portfolio to Drive Top Line
Charter’s Spectrum Business recently expanded its network design center in Coppell and hired nearly 100 broadband network designers to support the company's network expansion and fiber-optic construction. This will bring broadband to more than a million additional homes and businesses.
Spectrum also launched its Internet, Mobile, TV, and Voice services to more than 2,000 small businesses and homes in Hale County.
Charter Communications, Inc. Price and Consensus
Charter Communications, Inc. price-consensus-chart | Charter Communications, Inc. Quote
Charter’s expanding portfolio is expected to drive its top-line growth in 2023.
In the fourth quarter of 2022, Charter’s residential, and small and medium business Internet customers increased 0.105 million, resulting in a total of 30.4 million by 2022.
Its total revenues for the fourth quarter of 2022 were $13.7 billion, which increased 3.5% year over year. Its adjusted EBITDA for the same quarter were $5.5 billion, indicating growth of 1.9% from the year-ago quarter’s reported figure.
Charter’s Internet revenues were $5.6 billion, driven by a rise in Internet customers, promotional rate increases and reduced bundled discounts.
The Zacks Consensus Estimate for first-quarter 2023 revenues is pegged at $13.53 billion, indicating 2.5% growth from the year-ago quarter’s reported figure.
Charter anticipates first-quarter 2023 earnings to be $2.82 per share. The consensus mark for first-quarter 2023 earnings is pegged at $7.32 per share, which increased 6.1% from the year-ago quarter reported figure.
Zacks Rank & Stocks to Consider
Currently, Charter carries a Zacks Rank #3 (Hold). It has lost 38.1% in a year compared with the Zacks Cable Television industry and the Zacks Consumer Discretionary sector’s declines of 23.2% and 24.8%, respectively.
Some better-ranked stocks in the broader sector are Boyd Gaming BYD, The Marcus MCS and Netflix NFLX, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Boyd Gaming shares have gained 92.1% in the past year. The long-term earnings growth rate for BYD is projected at 9.53%.
The Marcus shares have lost 48.1% in the past year. MCS’s long-term earnings growth rate is projected at 15%.
Netflix shares have gained 9.5% in the past year. The long-term earnings growth rate for NFLX is projected at 19.25%.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Netflix, Inc. (NFLX) : Free Stock Analysis Report
Charter Communications, Inc. (CHTR) : Free Stock Analysis Report
Marcus Corporation (The) (MCS) : Free Stock Analysis Report
Boyd Gaming Corporation (BYD) : Free Stock Analysis Report
