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

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Charter Communications : Gov. Malloy and Charter Communications Announce Charter's Plan to Build New Headquarters, Add Jobs

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10/04/2017 | 01:21pm CEST

HARTFORD, Conn., Oct. 3 -- Gov. Dannel P. Malloy, D-Conn., issued the following news release:

Governor Dannel P. Malloy and Charter Communications, Inc., a Fortune 100 company and the second-largest cable operator in the United States, today announced the company's plans to build a 500,000 square foot, 15-story headquarters at 406 Washington Boulevard in Stamford. Following its commitment to create and retain 400 jobs under the state's First Five Program in 2012, Charter has committed to create an additional 1,100 new corporate headquarters jobs and has agreed to a total of $100 million in planned capital expenditures in Connecticut over the next several years.

"Today is a great day for Connecticut," Governor Malloy said. "Charter's announcement to create an additional 1,100 jobs shows that our strategic investments are continuing to spur economic growth and create good paying jobs in the state. We look forward to the continued success of Charter Communications as they grow within Connecticut."

Serving more than 26 million customers in 41 states across the country, Charter provides a full range of broadband services including digital cable, high-speed Internet and telephone services to residential and commercial customers.

"Since relocating Charter's headquarter operations to Stamford in 2012, the company has undergone a transformation to become the second largest cable provider in the U.S.," Tom Rutledge, Chairman and Chief Executive Officer of Charter Communications, said. "This new, state-of-the-art facility in downtown Stamford will provide Charter the necessary resources to facilitate its continued growth. We are excited to continue expanding in Connecticut, and thank Governor Malloy, Mayor Martin, the Connecticut Department of Economic and Community Development, and the entire Stamford-area federal, state and local delegation of elected officials for their continued partnership and support."

"Charter Communications has been a steadfast corporate citizen since they relocated here in 2012," Stamford Mayor David Martin said. "We are happy that they chose to stay in Stamford, and add jobs and expand their workforce here. This investment in our city is good news and we applaud their vote of confidence in Stamford."

The Department of Economic and Community Development (DECD) will provide a 10-year, $10 million low-interest loan to support the project through the state's First Five Plus program. State funding may be used for new equipment and leasehold improvements. The company may be eligible for loan forgiveness based on job creation and if employment obligations are met. Charter Communications will also receive up to $10 million in tax credits through DECD's Urban and Industrial Sites Reinvestment Tax Credit program. Additional tax credits are available if the company exceeds job targets.

"We are excited that Charter continues to grow in Connecticut," DECD Commissioner Catherine Smith said. "Charter's decision to expand its headquarters operations in Stamford demonstrates that Connecticut is on the right track in supporting great companies who value the quality of our talent, excellent location and business environment."

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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%
EPS Revisions
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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