Zacks Investment Research Lowers Cable One Inc. (CABO) to Hold
Cable One Inc. (NYSE:CABO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Cable One, Inc. is a cable company. The Company provides internet, cable television and telephone service primarily in the United States. Cable One, Inc. is based in Phoenix, United States. “
Separately, TheStreet started coverage on shares of Cable One in a research note on Wednesday, July 13th. They issued a “hold” rating on the stock.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/11/zacks-investment-research-lowers-cable-one-inc-cabo-to-hold.html
Cable One (NYSE:CABO) traded down 2.37% on Tuesday, reaching $584.80. 67,455 shares of the company traded hands. The stock has a 50-day moving average price of $561.47 and a 200-day moving average price of $510.59. Cable One has a 52-week low of $390.00 and a 52-week high of $601.01. The firm has a market cap of $3.35 billion, a P/E ratio of 34.40 and a beta of 0.28.
Cable One (NYSE:CABO) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.43 by $0.19. Cable One had a net margin of 12.26% and a return on equity of 23.07%. The firm had revenue of $204.56 million for the quarter, compared to analyst estimates of $202.03 million. During the same period in the previous year, the business earned $3.67 EPS. The company’s revenue was up .9% compared to the same quarter last year. Analysts anticipate that Cable One will post $19.68 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. LS Investment Advisors LLC raised its position in Cable One by 67.7% in the second quarter. LS Investment Advisors LLC now owns 265 shares of the company’s stock valued at $136,000 after buying an additional 107 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Cable One during the second quarter valued at $169,000. Savant Capital LLC purchased a new position in Cable One during the second quarter valued at $215,000. Shelton Capital Management purchased a new position in Cable One during the second quarter valued at $215,000. Finally, Jefferies Group LLC purchased a new position in Cable One during the second quarter valued at $219,000. Institutional investors own 69.46% of the company’s stock.
Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services in approximately 20 Western, Midwestern and Southern states. The Company’s products include Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. It provides these broadband services to residential and business customers in approximately 40 cable systems covering over 400 cities and towns.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Cable One Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cable One Inc. and related companies with MarketBeat.com's FREE daily email newsletter.