Cable One (NYSE:CABO) Shares Down 3.9% - Time to Sell?

Key Points

• Cable One's stock price decreased by 3.9%, reaching a last traded price of $169.90, with trading volume significantly below its average.
• Analysts' ratings vary, with BNP Paribas upgrading the stock to a neutral rating while Weiss Ratings maintained a sell rating, suggesting mixed investor sentiment.
• The company reported an earnings per share of $3.23, missing expectations by $5.00, and had a negative net margin of 32.18% during the last quarter.

Cable One, Inc. (NYSE:CABO - Get Free Report)'s stock price dropped 3.9% on Wednesday . The stock traded as low as $171.32 and last traded at $169.90. Approximately 36,824 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 176,291 shares. The stock had previously closed at $176.88.

Analyst Upgrades and Downgrades

CABO has been the topic of several recent research reports. BNP Paribas Exane upgraded shares of Cable One from an "underperform" rating to a "neutral" rating and set a $125.00 price objective on the stock in a research note on Monday, June 16th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Cable One in a research note on Wednesday. BNP Paribas upgraded shares of Cable One from a "strong sell" rating to a "hold" rating in a research note on Monday, June 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating on the stock in a research note on Friday, August 1st. Five investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Cable One presently has an average rating of "Reduce" and an average price target of $279.25.

Cable One Stock Performance

The stock has a market cap of $947.11 million, a P/E ratio of -1.89 and a beta of 0.87. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37. The firm's 50-day moving average price is $158.99 and its 200-day moving average price is $174.20.

Cable One (NYSE:CABO - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $3.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.23 by ($5.00). The company had revenue of $381.07 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $10.29 EPS. Sell-side analysts expect that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cable One

Several institutional investors and hedge funds have recently modified their holdings of CABO. Meeder Asset Management Inc. purchased a new position in shares of Cable One in the first quarter valued at $30,000. Brooklyn Investment Group grew its holdings in shares of Cable One by 5,233.3% in the first quarter. Brooklyn Investment Group now owns 160 shares of the company's stock valued at $43,000 after purchasing an additional 157 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Cable One by 1,435.7% in the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock valued at $58,000 after purchasing an additional 201 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Cable One by 171.2% in the second quarter. Signaturefd LLC now owns 320 shares of the company's stock valued at $43,000 after purchasing an additional 202 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Cable One in the second quarter valued at $50,000. 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.

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