BidaskClub Downgrades Cable One, Inc. (CABO) to Buy
Cable One, Inc. (NYSE:CABO) was downgraded by BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
CABO has been the subject of a number of other research reports. Raymond James Financial, Inc. assumed coverage on Cable One in a research note on Thursday, June 8th. They set an “outperform” rating and a $785.00 price objective for the company. TheStreet raised Cable One from a “c” rating to a “b-” rating in a research note on Monday, June 12th. Finally, Zacks Investment Research raised Cable One from a “hold” rating to a “buy” rating and set a $837.00 price objective for the company in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Cable One presently has a consensus rating of “Hold” and a consensus price target of $693.75.
Cable One (NYSE CABO) traded up 0.77% during mid-day trading on Thursday, hitting $736.74. 61,849 shares of the stock traded hands. The company has a 50-day moving average of $738.68 and a 200 day moving average of $688.56. The firm has a market capitalization of $4.22 billion, a P/E ratio of 39.56 and a beta of 0.31. Cable One has a 1-year low of $551.59 and a 1-year high of $754.00.
Cable One (NYSE:CABO) last released its quarterly earnings data on Tuesday, August 8th. The company reported $4.97 earnings per share for the quarter, missing analysts’ consensus estimates of $5.10 by ($0.13). The company had revenue of $241.00 million for the quarter, compared to analysts’ expectations of $247.02 million. Cable One had a net margin of 12.44% and a return on equity of 22.83%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same period last year, the company posted $4.62 EPS. On average, equities research analysts anticipate that Cable One will post $20.60 EPS for the current year.
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In other Cable One news, CFO Kevin P. Coyle sold 450 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $740.91, for a total value of $333,409.50. Following the completion of the transaction, the chief financial officer now owns 4,440 shares in the company, valued at $3,289,640.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Donald Graham acquired 8,187 shares of the firm’s stock in a transaction on Friday, July 28th. The stock was purchased at an average price of $742.52 per share, with a total value of $6,079,011.24. Following the acquisition, the insider now owns 279,733 shares of the company’s stock, valued at approximately $207,707,347.16. The disclosure for this purchase can be found here. Insiders sold 2,561 shares of company stock valued at $1,893,119 in the last ninety days. 1.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of CABO. Quantbot Technologies LP bought a new position in Cable One in the first quarter worth $115,000. Victory Capital Management Inc. raised its holdings in Cable One by 28.3% in the second quarter. Victory Capital Management Inc. now owns 163 shares of the company’s stock worth $116,000 after purchasing an additional 36 shares in the last quarter. US Bancorp DE raised its holdings in Cable One by 16.2% in the first quarter. US Bancorp DE now owns 230 shares of the company’s stock worth $144,000 after purchasing an additional 32 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Cable One by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 307 shares of the company’s stock worth $192,000 after purchasing an additional 8 shares in the last quarter. Finally, World Asset Management Inc bought a new position in Cable One in the first quarter worth $202,000. Institutional investors and hedge funds own 70.38% of the company’s stock.
Cable One Company Profile
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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