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Charter Communications Inc Class A - Stock Quote CHTR

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Morningstar's Charter Communications Inc Class A Stock Analysis

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The Market Has Overacted to Charter’s Slowing Customer Growth In Our View

Analyst Note

| Michael Hodel, CFA |

Charter echoed the same sentiments as its cable peers, arguing that the slowdown in customer growth over the past few quarters isn’t related to increased competition. While we agree in part, we expect competitive pressure will remain stronger in coming years than it’s been in the past. However, we also believe the market has overreacted to the prospect of slowing growth across the three cable firms. After reviewing Charter’s first quarter results, we’ve modestly reduced our growth expectations, moving our fair value estimate to $610 per share from $640. While we prefer Comcast given its strong balance sheet, we like Charter at the current share price as well.

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Charter Communications Inc Class A's Company Profile

Business Description

Charter is the product of the 2016 merger of three cable companies, each with a decades-long history in the business: Legacy Charter, Time Warner Cable, and Bright House Networks. The firm now holds networks capable of providing television, internet access, and phone services to roughly 54 million U.S. homes and businesses, around 40% of the country. Across this footprint, Charter serves 29 million residential and 2 million commercial customer accounts under the Spectrum brand, making it the second-largest U.S. cable company behind Comcast. The firm also owns, in whole or in part, sports and news networks, including Spectrum SportsNet (long-term local rights to Los Angeles Lakers games), SportsNet LA (Los Angeles Dodgers), SportsNet New York (New York Mets), and Spectrum News NY1.

400 Washington Boulevard
Stamford, CT, 06902
T +1 203 905-7801
Sector Communication Services
Industry Entertainment
Most Recent Earnings Mar 31, 2022
Fiscal Year End Dec 31, 2022
Stock Type Classic Growth
Employees 93,700

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