Cable One, Inc. (NYSE:CABO) Receives Consensus Recommendation 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.

Cable One, Inc. (NYSE:CABO - Get Free Report) has been assigned an average rating of "Reduce" from the six analysts that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating and five have given a hold rating to the company. The average 12-month price objective among analysts that have covered the stock in the last year is $279.25.

CABO has been the topic of a number of recent research reports. Raymond James Financial cut shares of Cable One from an "outperform" rating to a "market perform" rating in a research note on Friday, May 2nd. JPMorgan Chase & Co. reduced their price target on shares of Cable One from $325.00 to $222.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 6th. KeyCorp reissued a "sector weight" rating on shares of Cable One in a research report on Friday, May 2nd. BNP Paribas raised shares of Cable One from a "strong sell" rating to a "hold" rating in a research report on Monday, June 16th. Finally, Wells Fargo & Company reduced their price target on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research report on Friday, August 1st.

Cable One Price Performance

Shares of CABO traded down $3.74 during mid-day trading on Thursday, hitting $129.20. 40,669 shares of the company traded hands, compared to its average volume of 190,646. Cable One has a one year low of $117.54 and a one year high of $436.99. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16. The business has a 50-day moving average of $135.21 and a 200 day moving average of $207.27. The stock has a market capitalization of $727.38 million, a price-to-earnings ratio of -1.46 and a beta of 0.79.

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

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Meeder Asset Management Inc. bought a new stake in shares of Cable One during the 1st quarter worth about $30,000. Brooklyn Investment Group boosted its holdings in Cable One by 5,233.3% in the 1st quarter. Brooklyn Investment Group now owns 160 shares of the company's stock valued at $43,000 after purchasing an additional 157 shares during the period. Signaturefd LLC boosted its holdings in Cable One by 171.2% in the 2nd quarter. Signaturefd LLC now owns 320 shares of the company's stock valued at $43,000 after purchasing an additional 202 shares during the period. Farther Finance Advisors LLC boosted its holdings in Cable One by 1,435.7% in the 1st quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock valued at $58,000 after purchasing an additional 201 shares during the period. Finally, Federated Hermes Inc. boosted its holdings in Cable One by 201.8% in the 4th quarter. Federated Hermes Inc. now owns 166 shares of the company's stock valued at $60,000 after purchasing an additional 111 shares during the period. Institutional investors own 89.92% of the company's stock.

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.