Zacks Investment Research Downgrades 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 released on Thursday.
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. “
Other research analysts also recently issued research reports about the company. TheStreet raised Cable One from a “c” rating to a “b-” rating in a research note on Monday, June 12th. BidaskClub downgraded Cable One from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 11th. Finally, Raymond James Financial, Inc. raised their price objective on Cable One from $785.00 to $815.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $693.75.
Shares of Cable One (NYSE:CABO) traded down 1.05% during midday trading on Thursday, reaching $732.15. The company had a trading volume of 26,794 shares. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 39.31 and a beta of 0.30. Cable One has a 12-month low of $527.75 and a 12-month high of $788.00. The company has a 50 day moving average of $738.79 and a 200 day moving average of $682.90.
Cable One (NYSE:CABO) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.10 by $0.13. Cable One had a return on equity of 22.83% and a net margin of 12.44%. The company had revenue of $241 million during the quarter, compared to the consensus estimate of $247.02 million. During the same period last year, the business earned $4.62 EPS. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. Analysts anticipate that Cable One will post $20.60 EPS for the current year.
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In related news, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the sale, the senior vice president now owns 2,542 shares of the company’s stock, valued at approximately $1,842,950. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Donald Graham sold 1,300 shares of Cable One stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $727.34, for a total value of $945,542.00. Following the sale, the insider now directly owns 246,985 shares in the company, valued at approximately $179,642,069.90. The disclosure for this sale can be found here. Insiders sold 9,889 shares of company stock worth $7,122,222 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. increased its stake in shares of Cable One by 6,855.3% in the first quarter. BlackRock Inc. now owns 439,785 shares of the company’s stock valued at $274,634,000 after buying an additional 433,462 shares during the period. Neuberger Berman Group LLC increased its stake in shares of Cable One by 5,057.0% in the second quarter. Neuberger Berman Group LLC now owns 68,743 shares of the company’s stock valued at $48,869,000 after buying an additional 67,410 shares during the period. Renaissance Technologies LLC increased its stake in shares of Cable One by 92.3% in the second quarter. Renaissance Technologies LLC now owns 137,200 shares of the company’s stock valued at $97,535,000 after buying an additional 65,847 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Cable One during the second quarter valued at about $33,648,000. Finally, Vaughan Nelson Investment Management L.P. increased its stake in shares of Cable One by 138.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 60,645 shares of the company’s stock valued at $43,112,000 after buying an additional 35,230 shares during the period. 75.66% of the stock is currently owned by institutional investors.
About Cable One
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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