Wells Fargo & Company Issues Pessimistic Forecast for Cable One (NYSE:CABO) Stock Price

Key Points

• Wells Fargo cut its price target on Cable One from $90 to $70 and rated the stock "underweight," implying roughly a 5% downside from the current price.
• Analyst sentiment is broadly negative with a MarketBeat consensus of "Reduce": five Hold and three Sell ratings, a consensus target of $109.25, and recent downgrades from firms including Weiss, BNP Paribas Exane and TD Cowen.
• Cable One missed quarterly estimates (EPS $6.12 vs. $7.77 expected) with a negative net margin of 23.74%, and the stock dropped $17.80 to $73.69, trading near its 1-year low.

Cable One (NYSE:CABO - Get Free Report) had its price target cut by equities research analysts at Wells Fargo & Company from $90.00 to $70.00 in a report issued on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price objective would indicate a potential downside of 5.01% from the company's current price.

CABO has been the topic of several other research reports. Weiss Ratings restated a "sell (d-)" rating on shares of Cable One in a research report on Monday, April 20th. BNP Paribas Exane lowered Cable One from a "neutral" rating to an "underperform" rating and set a $80.00 target price for the company. in a research report on Tuesday, February 24th. Zacks Research lowered Cable One from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 16th. Finally, TD Cowen decreased their target price on Cable One from $260.00 to $142.00 and set a "hold" rating for the company in a research report on Friday, February 27th. Five research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $109.25.

Cable One Price Performance

NYSE:CABO traded down $17.80 during trading hours on Friday, reaching $73.69. 87,056 shares of the company were exchanged, compared to its average volume of 150,698. The business has a 50 day moving average of $100.54 and a 200 day moving average of $111.62. The company has a market capitalization of $417.83 million, a P/E ratio of -1.16 and a beta of 0.69. Cable One has a 1-year low of $70.37 and a 1-year high of $196.64. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.40 and a quick ratio of 0.40.

Cable One (NYSE:CABO - Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $6.12 earnings per share for the quarter, missing analysts' consensus estimates of $7.77 by ($1.65). Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. The business had revenue of $352.96 million during the quarter, compared to analyst estimates of $359.59 million. Research analysts forecast that Cable One will post 33.39 EPS for the current year.

Hedge Funds Weigh In On Cable One

A number of hedge funds have recently added to or reduced their stakes in CABO. AQR Capital Management LLC lifted its position in shares of Cable One by 172.6% in the 1st quarter. AQR Capital Management LLC now owns 16,947 shares of the company's stock worth $4,482,000 after purchasing an additional 10,731 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Cable One by 4.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 3,361 shares of the company's stock valued at $893,000 after purchasing an additional 151 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Cable One by 16.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 17,268 shares of the company's stock valued at $4,589,000 after purchasing an additional 2,467 shares in the last quarter. Creative Planning increased its stake in Cable One by 59.7% during the 2nd quarter. Creative Planning now owns 3,238 shares of the company's stock valued at $440,000 after purchasing an additional 1,210 shares in the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of Cable One by 16,600.0% in the second quarter. Federated Hermes Inc. now owns 1,002 shares of the company's stock worth $136,000 after acquiring an additional 996 shares during the period. 89.92% of the stock is currently owned by institutional investors.

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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