Cable One (NYSE:CABO) Shares Up 8.2% – Here’s Why

Cable One, Inc. (NYSE:CABO) rose 8.2% during trading on Thursday . The stock traded as high as $96.74 and last traded at $96.91. Approximately 56,912 shares changed hands during trading, a decline of 64% from the average daily volume of 158,235 shares. The stock had previously closed at $89.56.

Analyst Ratings Changes

Several brokerages have recently weighed in on CABO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cable One in a research note on Wednesday, January 21st. Wells Fargo & Company reduced their target price on shares of Cable One from $107.00 to $90.00 and set an “underweight” rating for the company in a report on Friday, February 27th. BNP Paribas Exane cut shares of Cable One from a “neutral” rating to an “underperform” rating and set a $80.00 target price for the company. in a report on Tuesday, February 24th. 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 report on Friday, February 27th. Finally, Zacks Research upgraded shares of Cable One from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Cable One currently has a consensus rating of “Reduce” and an average price target of $114.25.

Cable One Price Performance

The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market cap of $550.05 million, a P/E ratio of -1.51 and a beta of 0.69. The firm’s fifty day moving average is $98.66 and its two-hundred day moving average is $121.36.

Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, February 26th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of $7.60 by ($8.95). Cable One had a negative net margin of 23.74% and a positive return on equity of 7.36%. The business had revenue of $363.74 million for the quarter, compared to the consensus estimate of $368.59 million. As a group, analysts anticipate that Cable One, Inc. will post 32.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Baupost Group LLC MA purchased a new stake in Cable One during the 3rd quarter valued at approximately $12,068,000. Goldentree Asset Management LP purchased a new position in shares of Cable One in the third quarter worth $13,033,000. Burgundy Asset Management Ltd. boosted its position in shares of Cable One by 18.0% during the second quarter. Burgundy Asset Management Ltd. now owns 474,730 shares of the company’s stock worth $64,473,000 after acquiring an additional 72,327 shares during the last quarter. Norges Bank purchased a new position in Cable One during the second quarter valued at $8,336,000. Finally, Marshall Wace LLP grew its stake in Cable One by 74.7% during the second quarter. Marshall Wace LLP now owns 140,318 shares of the company’s stock valued at $19,057,000 after acquiring an additional 60,012 shares in the last quarter. 89.92% of the stock is owned by hedge funds and other institutional investors.

Cable One Company Profile

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.