Cable One (NYSE:CABO) Reaches New 52-Week Low After Analyst Downgrade

Cable One, Inc. (NYSE:CABO)’s share price reached a new 52-week low during trading on Saturday after Wells Fargo & Company lowered their price target on the stock from $120.00 to $107.00. Wells Fargo & Company currently has an underweight rating on the stock. Cable One traded as low as $116.13 and last traded at $131.5550, with a volume of 253860 shares traded. The stock had previously closed at $133.42.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Cable One in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $276.00.

Institutional Trading of Cable One

Several institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. purchased a new position in shares of Cable One in the 1st quarter worth $30,000. Brooklyn Investment Group grew its position in Cable One by 5,233.3% during the first quarter. Brooklyn Investment Group now owns 160 shares of the company’s stock valued at $43,000 after acquiring an additional 157 shares during the period. Hantz Financial Services Inc. increased its stake in Cable One by 107.3% during the third quarter. Hantz Financial Services Inc. now owns 255 shares of the company’s stock worth $45,000 after acquiring an additional 132 shares during the last quarter. Signaturefd LLC increased its stake in Cable One by 171.2% during the second quarter. Signaturefd LLC now owns 320 shares of the company’s stock worth $43,000 after acquiring an additional 202 shares during the last quarter. Finally, State of Wyoming purchased a new position in shares of Cable One in the 2nd quarter worth about $50,000. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Stock Down 1.4%

The firm has a market capitalization of $740.65 million, a price-to-earnings ratio of -1.62 and a beta of 0.86. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 2.16. The firm has a 50 day moving average price of $162.01 and a two-hundred day moving average price of $157.35.

Cable One (NYSE:CABO) last posted its earnings results on Thursday, November 6th. The company reported $5.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.25 by ($4.08). Cable One had a positive return on equity of 7.71% and a negative net margin of 29.78%.The business had revenue of $376.01 million for the quarter, compared to analyst estimates of $378.96 million. On average, equities analysts expect that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

About Cable One

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.