Overview

• Cable One Q3 revenue declines 4.5% yr/yr, slightly missing analyst expectations

• Net income for Q3 rises 95.7% yr/yr, driven by gains on equity sales

• Adjusted EBITDA slightly beats estimates despite a 5.5% yr/yr decline

Outlook

• Company did not provide specific guidance for future quarters or full year in its press release

Result Drivers

• RESIDENTIAL VIDEO DECLINE - Co attributes $8.7 mln revenue decrease to decline in residential video subscribers, partially offset by rate adjustment

• RESIDENTIAL DATA CHURN - Higher than expected churn in residential data customers, despite modest growth in connects, per CEO Julie Laulis

• EQUITY SALES GAINS - $67.4 mln gains on sales of equity investments primarily drove net income increase

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the integrated telecommunications services peer group is "buy."

• Wall Street's median 12-month price target for Cable One Inc is $345.00, about 58.4% above its November 5 closing price of $143.42

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 5 three months ago

Press Release: ID:nBw8q2tDba

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)