Wells Fargo & Company Has Lowered Expectations for Cable One (NYSE:CABO) Stock Price

Cable One (NYSE:CABO) had its target price lowered by Wells Fargo & Company from $340.00 to $240.00 in a report released on Friday,Benzinga reports. The firm currently has an underweight rating on the stock.

A number of other research analysts also recently commented on the company. JPMorgan Chase & Co. lowered their price objective on Cable One from $480.00 to $470.00 and set a “neutral” rating for the company in a research note on Tuesday, November 12th. KeyCorp lowered their price target on shares of Cable One from $825.00 to $650.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $486.20.

Cable One Stock Down 2.4 %

NYSE:CABO opened at $260.18 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.84. The stock has a 50 day moving average of $322.08 and a 200-day moving average of $350.59. The firm has a market capitalization of $1.46 billion, a PE ratio of 6.02 and a beta of 0.89. Cable One has a 52 week low of $250.08 and a 52 week high of $475.00.

Cable One Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be paid a $2.95 dividend. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $11.80 annualized dividend and a dividend yield of 4.54%. Cable One’s payout ratio is 27.29%.

Institutional Investors Weigh In On Cable One

A number of hedge funds and other institutional investors have recently modified their holdings of CABO. AlphaQuest LLC bought a new position in Cable One in the 4th quarter valued at about $49,000. Sound Income Strategies LLC acquired a new stake in shares of Cable One in the 4th quarter worth approximately $50,000. KBC Group NV boosted its holdings in shares of Cable One by 45.5% in the third quarter. KBC Group NV now owns 160 shares of the company’s stock valued at $56,000 after acquiring an additional 50 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Cable One by 201.8% during the fourth quarter. Federated Hermes Inc. now owns 166 shares of the company’s stock valued at $60,000 after acquiring an additional 111 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its position in Cable One by 20.4% in the third quarter. Public Employees Retirement System of Ohio now owns 171 shares of the company’s stock worth $60,000 after purchasing an additional 29 shares during the period. 89.92% of the stock is currently owned by institutional investors.

Cable One Company Profile

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.