Cable One (NYSE:CABO) Shares Down 4.8% – Here’s What Happened

Shares of Cable One, Inc. (NYSE:CABO) fell 4.8% on Tuesday . The company traded as low as $102.79 and last traded at $103.57. 33,478 shares traded hands during mid-day trading, a decline of 79% from the average session volume of 163,181 shares. The stock had previously closed at $108.79.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CABO. TD Cowen reduced their target price on shares of Cable One from $260.00 to $142.00 and set a “hold” rating on the stock in a report on Friday, February 27th. Wells Fargo & Company lowered their target price on Cable One from $107.00 to $90.00 and set an “underweight” rating for the company in a research note on Friday, February 27th. BNP Paribas Exane lowered Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 price target on the stock. in a research report on Tuesday, February 24th. Zacks Research upgraded shares of Cable One from a “strong sell” rating to a “hold” rating in a research note on Monday, January 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cable One from $175.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, November 12th. Five equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $114.25.

Cable One Stock Down 5.8%

The firm has a 50-day moving average price of $98.25 and a two-hundred day moving average price of $128.65. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market cap of $581.06 million, a price-to-earnings ratio of -1.58 and a beta of 0.70.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, February 26th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of $7.60 by ($8.95). The firm had revenue of $363.74 million during the quarter, compared to analyst estimates of $368.59 million. Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. On average, sell-side analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current year.

Hedge Funds Weigh In On Cable One

A number of hedge funds and other institutional investors have recently made changes to their positions in CABO. Corient Private Wealth LLC acquired a new position in Cable One in the 4th quarter valued at about $490,000. State of Tennessee Department of Treasury raised its stake in shares of Cable One by 207.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 3,507 shares of the company’s stock worth $396,000 after purchasing an additional 2,365 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Cable One by 8.9% during the fourth quarter. Empowered Funds LLC now owns 24,724 shares of the company’s stock worth $2,790,000 after purchasing an additional 2,016 shares during the period. XTX Topco Ltd purchased a new position in Cable One in the 4th quarter valued at $1,288,000. Finally, VARCOV Co. acquired a new position in Cable One in the 4th quarter valued at $228,000. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Cable One Company Profile

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.