Wells Fargo & Company Has Lowered Expectations for Cable One (NYSE:CABO) Stock Price
Wells Fargo & Company has lowered its price target for Cable One (NYSE:CABO) from $120.00 to $107.00, maintaining an "underweight" rating. This suggests a potential downside of 18.67% from the current stock price of $131.56. Weiss Ratings also reiterated a "sell (d-)" rating. Analysts have an average rating of "Reduce" for Cable One, with a consensus price target of $276.00. The company reported earnings of $14.52 per share, exceeding estimates, but had a negative net margin of 32.18%.
Cable One (NYSE:CABO - Get Free Report) had its price target cut by analysts at Wells Fargo & Company from $120.00 to $107.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "underweight" rating on the stock. Wells Fargo & Company's price target would suggest a potential downside of 18.67% from the stock's current price.
Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Cable One in a research report on Wednesday, October 8th. Five analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $276.00.
Read Our Latest Research Report on CABO
Cable One Stock Performance
Shares of CABO stock traded down $1.87 on Friday, hitting $131.56. 208,514 shares of the stock traded hands, compared to its average volume of 168,263. The company's fifty day moving average is $162.63 and its 200 day moving average is $158.21. Cable One has a 1-year low of $116.13 and a 1-year high of $436.99. The company has a market capitalization of $740.65 million, a PE ratio of -1.49 and a beta of 0.86. The company has a debt-to-equity ratio of 2.16, a current ratio of 0.37 and a quick ratio of 0.37.
Cable One (NYSE:CABO - Get Free Report) last issued its earnings results on Thursday, November 6th. The company reported $14.52 earnings per share for the quarter, topping analysts' consensus estimates of $9.25 by $5.27. The company had revenue of $376.01 million for the quarter, compared to analysts' expectations of $378.96 million. Cable One had a negative net margin of 32.18% and a positive return on equity of 8.40%. On average, equities research analysts predict that Cable One will post 32.08 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of CABO. Meeder Asset Management Inc. acquired a new stake in Cable One in the 1st quarter valued at about $30,000. Brooklyn Investment Group grew its stake in shares of Cable One by 5,233.3% in the 1st quarter. Brooklyn Investment Group now owns 160 shares of the company's stock worth $43,000 after purchasing an additional 157 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Cable One by 171.2% in the 2nd quarter. Signaturefd LLC now owns 320 shares of the company's stock worth $43,000 after purchasing an additional 202 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in Cable One by 107.3% during the third quarter. Hantz Financial Services Inc. now owns 255 shares of the company's stock valued at $45,000 after purchasing an additional 132 shares during the last quarter. Finally, State of Wyoming acquired a new position in Cable One in the second quarter worth approximately $50,000. 89.92% of the stock is owned by institutional investors and hedge funds.
About Cable One
(Get Free Report)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.
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