Cable One (NYSE:CABO) Releases Earnings Results, Misses Estimates By $4.08 EPS

Cable One (NYSE:CABO) issued its earnings results on Thursday. The company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.25 by ($4.08), Zacks reports. The firm had revenue of $376.01 million during the quarter, compared to the consensus estimate of $378.96 million. Cable One had a positive return on equity of 7.71% and a negative net margin of 29.78%.

Cable One Price Performance

CABO traded down $1.87 during trading on Friday, reaching $131.56. 253,860 shares of the company were exchanged, compared to its average volume of 89,391. Cable One has a 12-month low of $116.13 and a 12-month high of $436.99. The company’s 50-day moving average is $162.01 and its two-hundred day moving average is $157.35. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. The company has a market cap of $740.65 million, a price-to-earnings ratio of -1.62 and a beta of 0.86.

Institutional Investors Weigh In On Cable One

Institutional investors and hedge funds have recently modified their holdings of the company. Balyasny Asset Management L.P. grew its position in Cable One by 912.7% in the second quarter. Balyasny Asset Management L.P. now owns 57,297 shares of the company’s stock worth $7,782,000 after acquiring an additional 51,639 shares in the last quarter. Bridgeway Capital Management LLC purchased a new stake in Cable One during the second quarter valued at about $4,822,000. Ameriprise Financial Inc. lifted its stake in Cable One by 246.2% during the second quarter. Ameriprise Financial Inc. now owns 43,672 shares of the company’s stock worth $5,931,000 after purchasing an additional 31,057 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Cable One by 116.4% in the 2nd quarter. AQR Capital Management LLC now owns 36,671 shares of the company’s stock worth $4,830,000 after purchasing an additional 19,724 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Cable One during the 2nd quarter valued at about $1,816,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CABO shares. Weiss Ratings restated a “sell (d-)” rating on shares of Cable One in a report on Wednesday, October 8th. Wells Fargo & Company lowered their target price on Cable One from $120.00 to $107.00 and set an “underweight” rating on the stock in a research note on Friday. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $276.00.

About Cable One

Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.