Cable One (NYSE:CABO) Trading Up 9% - Time to Buy?

Key Points

• Cable One's stock price increased by 9%, trading last at $173.00 after reaching a high of $170.61 during mid-day on Thursday.
• The company's recent earnings report revealed missed EPS estimates, reporting $3.23 versus a consensus of $8.23, with revenue slightly above expectations at $381.07 million.
• Analyst ratings for Cable One vary, with a recent upgrade from BNP Paribas Exane but mixed sentiment overall, as five analysts rated it a Hold and one issued a Sell rating.

Cable One, Inc. (NYSE:CABO - Get Free Report) traded up 9% during trading on Thursday . The stock traded as high as $170.61 and last traded at $173.00. 49,350 shares traded hands during trading, a decline of 73% from the average session volume of 183,282 shares. The stock had previously closed at $158.71.

Analyst Upgrades and Downgrades

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

Cable One Stock Performance

The stock has a market capitalization of $960.25 million, a PE ratio of -1.93 and a beta of 0.81. 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 business's fifty day moving average price is $148.47 and its 200-day moving average price is $183.17.

Cable One (NYSE:CABO - Get Free Report) last announced its quarterly earnings results 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 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 analysts' expectations of $379.81 million. During the same period in the previous year, the company posted $10.29 earnings per share. As a group, equities research analysts expect that Cable One, Inc. will post 32.08 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Squarepoint Ops LLC bought a new position in shares of Cable One in the second quarter worth approximately $1,816,000. State of Wyoming bought a new position in shares of Cable One in the second quarter worth approximately $50,000. Public Sector Pension Investment Board increased its position in shares of Cable One by 4.3% in the second quarter. Public Sector Pension Investment Board now owns 47,120 shares of the company's stock worth $6,399,000 after purchasing an additional 1,956 shares during the last quarter. FORA Capital LLC bought a new position in shares of Cable One in the second quarter worth approximately $491,000. Finally, Headlands Technologies LLC bought a new position in shares of Cable One in the second quarter worth approximately $104,000. 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.