Cable One (NYSE:CABO) Shares Up 5.3% - Time to Buy?

Key Points

• Cable One's shares increased by 5.3% recently, trading at $177.75, reflecting a decline in trading volume compared to average sessions.
• Analysts have mixed views on Cable One, with Wells Fargo reducing the target price to $120 and BNP Paribas upgrading it to a "neutral" rating.
• The company reported disappointing earnings, with EPS of $3.23 missing estimates by $5.00, and analysts expect a total of 32.08 EPS for the current fiscal year.

Shares of Cable One, Inc. (NYSE:CABO - Get Free Report) traded up 5.3% during trading on Tuesday . The stock traded as high as $178.24 and last traded at $177.75. 64,890 shares changed hands during trading, a decline of 64% from the average session volume of 178,693 shares. The stock had previously closed at $168.85.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. BNP Paribas Exane raised 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 report on Monday, June 16th. BNP Paribas raised shares of Cable One from a "strong sell" rating to a "hold" rating in a report on Monday, June 16th. Finally, Wells Fargo & Company reduced their target price on shares of Cable One from $210.00 to $120.00 and set an "underweight" rating for the company in a report on Friday, August 1st. Five equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Cable One currently has an average rating of "Reduce" and a consensus target price of $279.25.

Cable One Price Performance

The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. The company has a market capitalization of $998.85 million, a PE ratio of -2.01 and a beta of 0.81. The firm's 50 day simple moving average is $155.59 and its 200 day simple moving average is $176.76.

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 the consensus estimate of $8.23 by ($5.00). Cable One had a positive return on equity of 8.40% and a negative net margin of 32.18%.The firm 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 earned $10.29 EPS. As a group, research analysts anticipate that Cable One, Inc. will post 32.08 EPS for the current fiscal year.

Institutional Trading of Cable One

Institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Cable One in the 1st quarter valued at about $30,000. Brooklyn Investment Group grew its stake in shares of Cable One by 5,233.3% during the first quarter. Brooklyn Investment Group now owns 160 shares of the company's stock worth $43,000 after acquiring an additional 157 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Cable One by 1,435.7% during the first quarter. Farther Finance Advisors LLC now owns 215 shares of the company's stock worth $58,000 after acquiring an additional 201 shares during the last quarter. Signaturefd LLC grew its stake in shares of Cable One by 171.2% during the second quarter. Signaturefd LLC now owns 320 shares of the company's stock worth $43,000 after acquiring an additional 202 shares during the last quarter. Finally, State of Wyoming purchased a new stake in shares of Cable One during the second quarter worth about $50,000. 89.92% of the stock is currently owned by institutional investors.

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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