Cable One (NYSE:CABO) Stock Gets Downgrade from Wall Street Zen

Cable One (NYSE:CABO) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

Other equities research analysts have also issued reports about the stock. BNP Paribas Exane decreased their price objective on shares of Cable One from $40.00 to $13.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 29th. TD Cowen lowered their target price on shares of Cable One from $111.00 to $86.00 and set a “hold” rating for the company in a research note on Friday, August 7th. Zacks Research upgraded Cable One from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Williams Trading set a $86.00 target price on shares of Cable One in a research report on Friday, August 7th. Finally, Weiss Ratings upgraded shares of Cable One from a “sell (e)” rating to a “sell (e+)” rating in a research note on Friday, October 2nd. Four investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Cable One presently has an average rating of “Reduce” and a consensus target price of $80.00.

Cable One Stock Down 16.1%

Cable One stock opened at $4.33 on Friday. The company has a quick ratio of 0.48, a current ratio of 0.48 and a debt-to-equity ratio of 9.27. The company has a 50 day moving average of $13.34 and a 200-day moving average of $55.12. Cable One has a twelve month low of $4.01 and a twelve month high of $137.99. The stock has a market capitalization of $24.55 million, a PE ratio of -0.02 and a beta of 0.61.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, November 5th. The company reported ($75.66) earnings per share for the quarter, missing analysts’ consensus estimates of $4.51 by ($80.17). Cable One had a negative return on equity of 3.97% and a negative net margin of 72.83%. The company had revenue of $332.15 million during the quarter, compared to analysts’ expectations of $341.27 million. On average, equities research analysts anticipate that Cable One will post 26.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Cable One

Several hedge funds and other institutional investors have recently modified their holdings of CABO. Private Management Group Inc. increased its holdings in shares of Cable One by 55.1% in the 2nd quarter. Private Management Group Inc. now owns 471,990 shares of the company’s stock valued at $25,067,000 after acquiring an additional 167,590 shares during the last quarter. Man Group plc acquired a new position in shares of Cable One in the 2nd quarter valued at $4,972,000. Pacer Advisors Inc. bought a new position in Cable One during the first quarter worth about $3,395,000. Susquehanna International Group LLP raised its stake in Cable One by 626.5% in the 2nd quarter. Susquehanna International Group LLP now owns 40,336 shares of the company’s stock valued at $2,142,000 after acquiring an additional 34,784 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in Cable One during the 2nd quarter worth $1,419,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Company Profile

Cable One, Inc is a broadband communications provider serving residential and business customers in smaller cities and rural communities across the United States. The company operates primarily under the Sparklight brand and provides connectivity services over its cable and fiber networks.

Its consumer offerings include high-speed internet, video entertainment and traditional voice services, along with related products such as Wi-Fi solutions and streaming-oriented television options. For business customers, Cable One provides internet access, data connectivity, communications services and other technology solutions designed for organizations of various sizes.

Cable One traces its history to the cable operations of Graham Holdings Company and became an independent publicly traded company in 2015.