Cable One (NYSE:CABO) Posts Quarterly Earnings Results, Misses Expectations By $4.08 EPS

Cable One (NYSE:CABO) issued its quarterly earnings data on Thursday. The company reported $5.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.25 by ($4.08), Zacks reports. The company had revenue of $376.01 million for the quarter, compared to analyst estimates of $378.96 million. Cable One had a positive return on equity of 7.71% and a negative net margin of 29.78%.

Cable One Stock Down 1.4%

Cable One stock traded down $1.87 during trading hours on Friday, hitting $131.56. The company had a trading volume of 253,860 shares, compared to its average volume of 89,391. 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 has a fifty-two week low of $116.13 and a fifty-two week high of $436.99. The firm’s fifty day moving average is $162.01 and its 200-day moving average is $157.35. The firm has a market capitalization of $740.65 million, a P/E ratio of -1.62 and a beta of 0.86.

Analysts Set New Price Targets

A number of research analysts have recently commented on CABO shares. Wells Fargo & Company dropped their price objective on shares of Cable One from $120.00 to $107.00 and set an “underweight” rating for the company in a research note on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cable One in a report on Wednesday, October 8th. Five investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Cable One has a consensus rating of “Reduce” and an average target price of $276.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management L.P. boosted its stake in Cable One by 912.7% during the 2nd quarter. Balyasny Asset Management L.P. now owns 57,297 shares of the company’s stock valued at $7,782,000 after purchasing an additional 51,639 shares during the period. Public Sector Pension Investment Board raised its holdings in Cable One by 4.3% in the 2nd quarter. Public Sector Pension Investment Board now owns 47,120 shares of the company’s stock valued at $6,399,000 after acquiring an additional 1,956 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Cable One by 246.2% in the second quarter. Ameriprise Financial Inc. now owns 43,672 shares of the company’s stock worth $5,931,000 after purchasing an additional 31,057 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Cable One by 116.4% during the 2nd quarter. AQR Capital Management LLC now owns 36,671 shares of the company’s stock worth $4,830,000 after acquiring an additional 19,724 shares during the period. Finally, Bridgeway Capital Management LLC acquired a new stake in Cable One during the second quarter valued at approximately $4,822,000. Institutional investors and hedge funds own 89.92% of the company’s stock.

About Cable One

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.