Cable One (NYSE:CABO) Hits New 12-Month Low – What’s Next?

Cable One, Inc. (NYSE:CABO)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $139.26 and last traded at $140.58, with a volume of 21268 shares traded. The stock had previously closed at $146.33.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CABO. KeyCorp restated a “sector weight” rating on shares of Cable One in a research note on Friday, May 2nd. Raymond James lowered Cable One from an “outperform” rating to a “market perform” rating in a report on Friday, May 2nd. Wells Fargo & Company decreased their price objective on Cable One from $340.00 to $240.00 and set an “underweight” rating on the stock in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. decreased their price objective on Cable One from $325.00 to $222.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 6th.

Cable One Trading Down 4.2%

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84. The firm has a market cap of $788.96 million, a price-to-earnings ratio of 3.25 and a beta of 1.00. The business has a 50 day moving average of $219.11 and a 200 day moving average of $291.40.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, May 1st. The company reported $12.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $12.21 by $0.11. Cable One had a return on equity of 10.98% and a net margin of 15.86%. The firm had revenue of $380.60 million for the quarter, compared to analyst estimates of $386.61 million. On average, research analysts forecast that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Wallace R. Weitz bought 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were acquired at an average cost of $244.02 per share, for a total transaction of $244,020.00. Following the acquisition, the director now owns 5,584 shares in the company, valued at $1,362,607.68. This represents a 21.82% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On Cable One

Several hedge funds have recently modified their holdings of the stock. KBC Group NV increased its holdings in Cable One by 45.0% during the 4th quarter. KBC Group NV now owns 232 shares of the company’s stock worth $84,000 after purchasing an additional 72 shares during the last quarter. Pacer Advisors Inc. boosted its position in Cable One by 102.0% during the 4th quarter. Pacer Advisors Inc. now owns 414 shares of the company’s stock worth $150,000 after acquiring an additional 209 shares during the period. Berry Wealth Group LP acquired a new position in Cable One during the 4th quarter worth $240,000. Kingsview Wealth Management LLC raised its stake in shares of Cable One by 5.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 23,660 shares of the company’s stock worth $8,568,000 after buying an additional 1,297 shares in the last quarter. Finally, Empowered Funds LLC bought a new stake in shares of Cable One in the 4th quarter worth $215,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Company Profile

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.