Cable One (NYSE:CABO) Stock Price Down 6.4% - Here's What Happened

Key Points

• Cable One fell 6.4% on Friday, trading as low as $106.80 and last at $107.49 on volume of 165,930 shares, about 11% above its average session volume.
• The company reported a major earnings miss, with EPS of ($1.35) versus analysts' $7.60 estimate (a shortfall of $8.95) and revenue of $363.74 million vs. $368.59 million expected, leaving a negative net margin of 23.74%.
• Multiple brokers cut ratings and targets (Wells Fargo to $90, TD Cowen to $142, BNP Paribas to $80) and the stock carries a consensus "Reduce" rating with an average target price of $114.25.

Cable One, Inc. (NYSE:CABO - Get Free Report) fell 6.4% on Friday . The company traded as low as $106.80 and last traded at $107.4850. 165,930 shares changed hands during trading, an increase of 11% from the average session volume of 149,549 shares. The stock had previously closed at $114.78.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on CABO. Wells Fargo & Company decreased their target price on shares of Cable One from $107.00 to $90.00 and set an "underweight" rating for the company in a research note on Friday, February 27th. TD Cowen decreased their target price on shares of Cable One from $260.00 to $142.00 and set a "hold" rating for the company in a research note on Friday, February 27th. Zacks Research downgraded shares of Cable One from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 16th. BNP Paribas Exane downgraded shares of Cable One from a "neutral" rating to an "underperform" rating and set a $80.00 target price for the company. in a research note on Tuesday, February 24th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cable One in a research note on Monday. Five analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $114.25.

Cable One Trading Down 8.9%

The stock's fifty day moving average price is $101.90 and its 200 day moving average price is $114.09. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.81. The stock has a market cap of $593.14 million, a PE ratio of -1.63 and a beta of 0.69.

Cable One (NYSE:CABO - Get Free Report) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.35) EPS for the quarter, missing analysts' consensus estimates of $7.60 by ($8.95). Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. The firm had revenue of $363.74 million for the quarter, compared to analysts' expectations of $368.59 million. On average, sell-side analysts forecast that Cable One, Inc. will post 36.9 EPS for the current year.

Institutional Investors Weigh In On Cable One

A number of institutional investors have recently made changes to their positions in CABO. Baupost Group LLC MA purchased a new stake in shares of Cable One during the third quarter valued at approximately $12,068,000. Goldentree Asset Management LP purchased a new stake in shares of Cable One during the third quarter valued at approximately $13,033,000. Balyasny Asset Management L.P. grew its holdings in shares of Cable One by 912.7% during the second quarter. Balyasny Asset Management L.P. now owns 57,297 shares of the company's stock valued at $7,782,000 after buying an additional 51,639 shares during the last quarter. Man Group plc grew its holdings in shares of Cable One by 669.3% during the fourth quarter. Man Group plc now owns 51,300 shares of the company's stock valued at $5,789,000 after buying an additional 44,632 shares during the last quarter. Finally, Bridgeway Capital Management LLC purchased a new stake in Cable One in the second quarter worth approximately $4,822,000. Hedge funds and other institutional investors own 89.92% of the company's stock.

About Cable One

Cable One, Inc NYSE: CABO is an American provider of broadband communications services, offering a suite of residential and business solutions over a hybrid fiber-coaxial network. The company delivers high-speed internet access, digital video, voice communications and mobile services, alongside advanced managed Wi-Fi and cybersecurity tools. Cable One's infrastructure supports both traditional cable offerings and converged IP-based platforms designed to meet evolving customer needs.

In addition to consumer-focused services, Cable One caters to small and medium-sized enterprises with dedicated business-class connectivity, Ethernet solutions and cloud-based voice applications.

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