Cable One (NYSE:CABO) Releases Earnings Results

Cable One (NYSE:CABO) issued its quarterly earnings results on Thursday. The company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.25 by ($4.08), Zacks reports. Cable One had a negative net margin of 29.78% and a positive return on equity of 7.71%. The business had revenue of $376.01 million during the quarter, compared to the consensus estimate of $378.96 million.

Cable One Trading Down 1.4%

CABO traded down $1.87 during midday trading on Friday, hitting $131.56. 253,860 shares of the company were exchanged, compared to its average volume of 89,391. The firm has a market capitalization of $740.65 million, a P/E ratio of -1.62 and a beta of 0.86. The firm’s 50 day moving average price is $162.01 and its 200-day moving average price is $157.35. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 2.16. Cable One has a 1-year low of $116.13 and a 1-year high of $436.99.

Wall Street Analyst Weigh In

CABO has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on Cable One from $120.00 to $107.00 and set an “underweight” rating for the company in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus target price of $276.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new position in Cable One during the 2nd quarter valued at $50,000. Headlands Technologies LLC purchased a new stake in shares of Cable One during the second quarter worth $104,000. Federated Hermes Inc. increased its position in shares of Cable One by 16,600.0% during the second quarter. Federated Hermes Inc. now owns 1,002 shares of the company’s stock valued at $136,000 after buying an additional 996 shares during the period. Tidal Investments LLC bought a new position in shares of Cable One in the second quarter valued at approximately $233,000. Finally, Occudo Quantitative Strategies LP purchased a new stake in Cable One in the 2nd quarter worth approximately $276,000. 89.92% of the stock is owned by 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.