Cable One, Inc. (NYSE:CABO) Receives Average Rating of "Reduce" from Analysts

Key Points

• Cable One, Inc. has received a consensus recommendation of "Reduce" from analysts, with one sell rating and five hold ratings assigned by the six firms covering the stock.
• The company's earnings report showed a significant miss, posting $3.23 EPS compared to an expected $8.23, leading to a negative net margin of 32.18%.
• Recent insider trading activity includes Director Wallace R. Weitz purchasing 7,000 shares, indicating a 69.03% increase in their investment in the company.

Shares of Cable One, Inc. (NYSE:CABO - Get Free Report) have been assigned a consensus recommendation of "Reduce" from the six ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $279.25.

Several analysts have recently weighed in on CABO shares. BNP Paribas Exane raised shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 target price on the stock in a report on Monday, June 16th. Wells Fargo & Company cut their price objective on Cable One from $210.00 to $120.00 and set an "underweight" rating for the company in a research report on Friday, August 1st. Raymond James Financial downgraded shares of Cable One from an "outperform" rating to a "market perform" rating in a report on Friday, May 2nd. KeyCorp restated a "sector weight" rating on shares of Cable One in a research report on Friday, May 2nd. Finally, BNP Paribas raised shares of Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th.

Cable One Trading Down 9.4%

NYSE:CABO opened at $136.88 on Thursday. The company has a quick ratio of 0.36, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. Cable One has a 52-week low of $117.54 and a 52-week high of $436.99. The stock's 50 day moving average price is $135.72 and its 200 day moving average price is $211.65. The company has a market capitalization of $770.61 million, a PE ratio of -1.55 and a beta of 0.79.

Cable One (NYSE:CABO - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $3.23 EPS for the quarter, missing analysts' consensus estimates of $8.23 by ($5.00). The business had revenue of $381.07 million during the quarter, compared to analysts' expectations of $379.81 million. Cable One had a negative net margin of 32.18% and a positive return on equity of 8.40%. During the same period in the previous year, the company posted $10.29 earnings per share. On average, research analysts anticipate that Cable One will post 32.08 EPS for the current year.

Insider Activity

In related news, Director Wallace R. Weitz acquired 7,000 shares of the business's stock in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $132.53 per share, for a total transaction of $927,710.00. Following the transaction, the director directly owned 17,140 shares of the company's stock, valued at approximately $2,271,564.20. This trade represents a 69.03% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mary E. Meduski bought 250 shares of Cable One stock in a transaction that occurred on Wednesday, June 11th. The stock was bought at an average cost of $148.00 per share, for a total transaction of $37,000.00. Following the purchase, the director owned 3,599 shares in the company, valued at $532,652. This represents a 7.46% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 7,400 shares of company stock valued at $984,342 over the last 90 days. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cable One

A number of institutional investors have recently made changes to their positions in CABO. Wedge Capital Management L L P NC purchased a new stake in Cable One during the 1st quarter worth about $1,745,000. Janus Henderson Group PLC boosted its stake in shares of Cable One by 23.0% during the 4th quarter. Janus Henderson Group PLC now owns 14,090 shares of the company's stock worth $5,101,000 after purchasing an additional 2,633 shares during the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of Cable One by 19.8% during the first quarter. Kingsview Wealth Management LLC now owns 28,349 shares of the company's stock worth $7,534,000 after buying an additional 4,689 shares in the last quarter. DAVENPORT & Co LLC raised its position in shares of Cable One by 16.8% in the first quarter. DAVENPORT & Co LLC now owns 69,578 shares of the company's stock valued at $18,631,000 after buying an additional 9,989 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Cable One by 18.7% in the fourth quarter. Northern Trust Corp now owns 66,507 shares of the company's stock valued at $24,084,000 after buying an additional 10,493 shares during the last quarter. 89.92% of the stock is owned by institutional investors and hedge funds.

Cable One Company Profile

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.

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