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

Cable One (NYSE:CABO) had its target price dropped by equities research analysts at Wells Fargo & Company from $90.00 to $70.00 in a report released on Friday,Benzinga reports. The firm presently has an “underweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential downside of 5.01% from the stock’s current price.

Other equities analysts also recently issued reports about the stock. Zacks Research downgraded shares of Cable One from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a research note on Monday, April 20th. BNP Paribas Exane downgraded shares of Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 price target on the stock. in a research note on Tuesday, February 24th. Finally, TD Cowen decreased their price target on shares of Cable One from $260.00 to $142.00 and set a “hold” rating on the stock in a research note on Friday, February 27th. 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 currently has an average rating of “Reduce” and an average target price of $109.25.

Cable One Stock Performance

Shares of NYSE:CABO traded down $17.80 during midday trading on Friday, reaching $73.69. The company’s stock had a trading volume of 87,056 shares, compared to its average volume of 150,698. The firm has a market capitalization of $417.83 million, a PE ratio of -1.16 and a beta of 0.69. Cable One has a twelve month low of $70.37 and a twelve month high of $196.64. The stock has a fifty day moving average of $100.54 and a 200 day moving average of $111.62. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.81.

Cable One (NYSE:CABO) last announced its earnings results on Thursday, April 30th. The company reported $6.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $7.77 by ($1.65). The company had revenue of $352.96 million during the quarter, compared to analyst estimates of $359.59 million. Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. On average, equities analysts expect that Cable One will post 33.39 EPS for the current fiscal year.

Institutional Trading of Cable One

Institutional investors and hedge funds have recently bought and sold shares of the business. Baupost Group LLC MA purchased a new position in Cable One in the 3rd quarter valued at about $12,068,000. Goldentree Asset Management LP acquired a new stake in Cable One in the third quarter valued at approximately $13,033,000. Balyasny Asset Management L.P. grew its position in Cable One by 912.7% in the second quarter. Balyasny Asset Management L.P. now owns 57,297 shares of the company’s stock valued at $7,782,000 after acquiring an additional 51,639 shares in the last quarter. Man Group plc grew its position in Cable One by 669.3% in the fourth quarter. Man Group plc now owns 51,300 shares of the company’s stock valued at $5,789,000 after acquiring an additional 44,632 shares in the last quarter. Finally, Bridgeway Capital Management LLC acquired a new stake in Cable One in the second quarter valued at 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.