Cable One (NYSE:CABO) Trading Down 3.6% – Here’s Why

Cable One, Inc. (NYSE:CABO) was down 3.6% on Wednesday . The stock traded as low as $114.29 and last traded at $114.6120. Approximately 12,097 shares traded hands during trading, a decline of 93% from the average daily volume of 164,750 shares. The stock had previously closed at $118.87.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Cable One from $175.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a research 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 for the company in a research note on Friday, November 7th. Finally, Zacks Research lowered Cable One from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 25th. Five investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $256.75.

Cable One Price Performance

The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.38 and a current ratio of 0.38. The company has a 50-day simple moving average of $127.08 and a two-hundred day simple moving average of $142.24. The stock has a market cap of $636.67 million, a price-to-earnings ratio of -1.39 and a beta of 0.79.

Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, November 6th. The company reported $5.17 earnings per share for the quarter, missing analysts’ consensus estimates of $9.25 by ($4.08). The business had revenue of $376.01 million during the quarter, compared to the consensus estimate of $378.96 million. Cable One had a negative net margin of 29.78% and a positive return on equity of 7.96%. As a group, equities research analysts forecast that Cable One, Inc. will post 32.08 EPS for the current year.

Institutional Investors Weigh In On Cable One

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Baupost Group LLC MA bought a new position in Cable One in the third quarter valued at about $12,068,000. DAVENPORT & Co LLC raised its holdings in Cable One by 249.2% in the 2nd quarter. DAVENPORT & Co LLC now owns 242,962 shares of the company’s stock valued at $32,997,000 after buying an additional 173,384 shares during the last quarter. Private Management Group Inc. boosted its position in Cable One by 103.9% during the 2nd quarter. Private Management Group Inc. now owns 311,131 shares of the company’s stock worth $42,255,000 after buying an additional 158,564 shares during the period. Goldentree Asset Management LP acquired a new stake in Cable One during the 3rd quarter worth approximately $13,033,000. Finally, Burgundy Asset Management Ltd. grew its holdings in Cable One by 18.0% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock worth $64,473,000 after acquiring an additional 72,327 shares during the last quarter. Institutional investors own 89.92% of the company’s stock.

Cable One Company Profile

Cable One, Inc (NYSE:CABO) is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One’s infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.