Cable One (NYSE:CABO) Cut to “Sell” at Wall Street Zen

Cable One (NYSE:CABO) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday, Wall Street Zen reports.

CABO has been the subject of a number of other research reports. BNP Paribas Exane dropped their target price on shares of Cable One from $40.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, September 29th. TD Cowen reduced their price target on shares of Cable One from $111.00 to $86.00 and set a “hold” rating for the company in a report on Friday, August 7th. Weiss Ratings upgraded shares of Cable One from a “sell (e)” rating to a “sell (e+)” rating in a report on Friday, October 2nd. Williams Trading set a $86.00 target price on shares of Cable One in a report on Friday, August 7th. Finally, Zacks Research upgraded Cable One from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average target price of $80.00.

Cable One Stock Performance

Shares of CABO stock opened at $4.33 on Friday. The company’s 50 day moving average price is $13.34 and its two-hundred day moving average price is $55.12. Cable One has a 52 week low of $4.01 and a 52 week high of $137.99. The company has a debt-to-equity ratio of 9.27, a quick ratio of 0.48 and a current ratio of 0.48. The company has a market capitalization of $24.55 million, a P/E ratio of -0.02 and a beta of 0.61.

Cable One (NYSE:CABO) last announced its quarterly earnings data on Thursday, November 5th. The company reported ($75.66) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.51 by ($80.17). Cable One had a negative net margin of 72.83% and a negative return on equity of 3.97%. The business had revenue of $332.15 million during the quarter, compared to analysts’ expectations of $341.27 million. On average, analysts expect that Cable One will post 26.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cable One

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Man Group plc purchased a new position in shares of Cable One in the second quarter worth $4,972,000. Private Management Group Inc. raised its holdings in Cable One by 55.1% in the 2nd quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock worth $25,067,000 after acquiring an additional 167,590 shares during the period. Pacer Advisors Inc. acquired a new position in Cable One during the 1st quarter worth $3,395,000. Empowered Funds LLC acquired a new stake in shares of Cable One in the 2nd quarter valued at approximately $1,182,000. Finally, Susquehanna International Group LLP grew its holdings in shares of Cable One by 626.5% during the second quarter. Susquehanna International Group LLP now owns 40,336 shares of the company’s stock worth $2,142,000 after purchasing an additional 34,784 shares during the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

About Cable One

Cable One, Inc is a broadband communications provider serving residential and business customers in smaller cities and rural communities across the United States. The company operates primarily under the Sparklight brand and provides connectivity services over its cable and fiber networks.

Its consumer offerings include high-speed internet, video entertainment and traditional voice services, along with related products such as Wi-Fi solutions and streaming-oriented television options. For business customers, Cable One provides internet access, data connectivity, communications services and other technology solutions designed for organizations of various sizes.

Cable One traces its history to the cable operations of Graham Holdings Company and became an independent publicly traded company in 2015.