Zacks Investment Research Upgrades Cable One (CABO) to “Hold”
Cable One (NYSE:CABO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors 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. “
Other analysts also recently issued reports about the company. BidaskClub downgraded Cable One from a “buy” rating to a “hold” rating in a research report on Monday, October 23rd. Wells Fargo & Co reiterated a “market perform” rating and issued a $741.00 price target (up from $700.00) on shares of Cable One in a research report on Thursday, January 4th. SunTrust Banks reiterated a “buy” rating and issued a $815.00 price target on shares of Cable One in a research report on Friday, November 10th. Finally, JPMorgan Chase & Co. cut Cable One from a “neutral” rating to an “underweight” rating in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $789.50.
Cable One (NYSE:CABO) last released its earnings results on Wednesday, November 8th. The company reported $5.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $5.20 by $0.28. Cable One had a return on equity of 23.97% and a net margin of 12.95%. The business had revenue of $253.85 million during the quarter, compared to the consensus estimate of $255.68 million. During the same period last year, the business posted $3.63 earnings per share. The business’s revenue for the quarter was up 23.5% on a year-over-year basis. equities analysts predict that Cable One will post 22.14 EPS for the current fiscal year.
In other news, Director Thomas O. Might sold 2,823 shares of Cable One stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $726.54, for a total value of $2,051,022.42. Following the completion of the transaction, the director now directly owns 15,140 shares in the company, valued at $10,999,815.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Thomas O. Might sold 2,793 shares of Cable One stock in a transaction on Friday, December 15th. The shares were sold at an average price of $676.44, for a total value of $1,889,296.92. Following the completion of the transaction, the chairman now owns 37,702 shares of the company’s stock, valued at $25,503,140.88. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,904 shares of company stock valued at $8,223,705. 1.30% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Cable One by 2.1% during the second quarter. Vanguard Group Inc. now owns 382,886 shares of the company’s stock valued at $272,194,000 after buying an additional 7,843 shares during the period. State Street Corp boosted its stake in Cable One by 1.3% during the second quarter. State Street Corp now owns 128,000 shares of the company’s stock valued at $90,989,000 after buying an additional 1,696 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Cable One by 25.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 82,895 shares of the company’s stock valued at $58,304,000 after buying an additional 16,680 shares during the period. Neuberger Berman Group LLC boosted its stake in Cable One by 18.0% during the third quarter. Neuberger Berman Group LLC now owns 81,145 shares of the company’s stock valued at $58,596,000 after buying an additional 12,402 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Cable One by 6.0% during the third quarter. Macquarie Group Ltd. now owns 76,367 shares of the company’s stock valued at $55,146,000 after buying an additional 4,341 shares during the period. Institutional investors own 73.17% of the company’s stock.
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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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