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4-Traders Homepage  >  Equities  >  Nasdaq  >  Charter Communications Inc    CHTR

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Charter Communications : Deal Is A Win

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10/05/2017 | 02:05pm CEST

Oct. 05--Tuesday's announcement that cable television giant Charter Communications will build a 15-story headquarters building in Stamford is good news for the whole state.

The company plans to add 1,100 new jobs and spend $100 million in Connecticut over the next few years, according to Gov. Dannel P. Malloy's office.

Just what the doctor ordered. New jobs and new residents are badly needed.

But the deal does come at a small cost: The state Department of Economic and Community Development is giving Charter a 10-year, $10 million low-interest loan to sweeten the deal. If the company creates and maintains a certain number of jobs, the loan could be forgiven -- a standard deal that comes back to Connecticut in economic activity, tax revenue and more.

Charter also got up to $10 million in tax credits, and more money is hanging from DECD's branches "if the company exceeds job targets," according to a release.

The deal will be a real success story if it can help bring more businesses like Charter to the state. Back in 2011, Gov. Malloy's initial "First Five" program gave a $20 million loan to NBC Sports Group to move to Stamford, and the network built a $100 million headquarters there that opened in 2013. If Charter's move is riding that momentum, then the investment is paying off.

But the cable TV industry is a volatile place. "Cord-cutting" customers are ditching cable in growing numbers and streaming content instead. Charter is fighting this battle with the rest of the major cable companies, and while it's losing TV customers, it's gaining internet subscribers.

The next decade will be a wild ride for the industry, but we hope Charter and other companies find Connecticut a good place to fight their battles.

___

(c)2017 The Hartford Courant (Hartford, Conn.)

Visit The Hartford Courant (Hartford, Conn.) at www.courant.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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Financials ($)
Sales 2017 41 654 M
EBIT 2017 4 848 M
Net income 2017 989 M
Debt 2017 64 010 M
Yield 2017 -
P/E ratio 2017 90,82
P/E ratio 2018 46,17
EV / Sales 2017 3,95x
EV / Sales 2018 3,79x
Capitalization 100 B
Chart CHARTER COMMUNICATIONS INC
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Charter Communications Inc Technical Analysis Chart | CHTR | US16119P1084 | 4-Traders
Technical analysis trends CHARTER COMMUNICATIONS INC
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 407 $
Spread / Average Target 16%
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Managers
NameTitle
Thomas M. Rutledge Chairman & Chief Executive Officer
John Bickham President & Chief Operating Officer
Christopher L. Winfrey Chief Financial Officer & Executive VP
James A. Blackley EVP-Engineering & Information Technology
W. Lance Conn Independent Director
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