Cable One (NYSE:CABO) Trading Up 2%

Cable One, Inc. (NYSE:CABO)’s share price traded up 2% on Monday . The company traded as high as $406.24 and last traded at $402.28. 18,539 shares were traded during mid-day trading, a decline of 83% from the average session volume of 111,926 shares. The stock had previously closed at $394.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CABO shares. TD Cowen lowered their price target on shares of Cable One from $650.00 to $456.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company cut their target price on Cable One from $400.00 to $350.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price target on Cable One from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $533.33.

Cable One Stock Performance

The business has a 50 day simple moving average of $365.65 and a two-hundred day simple moving average of $412.00. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.86. The firm has a market cap of $2.22 billion, a PE ratio of 9.06 and a beta of 0.83.

Cable One (NYSE:CABO) last issued its earnings results on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The firm had revenue of $394.46 million for the quarter, compared to the consensus estimate of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 11.84%. The company’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $10.43 earnings per share. As a group, equities research analysts forecast that Cable One, Inc. will post 32.21 earnings per share for the current fiscal year.

Cable One Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were issued a dividend of $2.95 per share. The ex-dividend date of this dividend was Friday, May 24th. This represents a $11.80 dividend on an annualized basis and a yield of 2.98%. Cable One’s dividend payout ratio is currently 27.02%.

Insider Activity at Cable One

In other news, Director Wallace R. Weitz acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were purchased at an average price of $369.98 per share, with a total value of $369,980.00. Following the transaction, the director now directly owns 4,565 shares in the company, valued at $1,688,958.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cable One

A number of large investors have recently modified their holdings of the business. Canada Pension Plan Investment Board boosted its holdings in shares of Cable One by 1,906.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 160,496 shares of the company’s stock valued at $67,911,000 after acquiring an additional 152,496 shares during the last quarter. Norges Bank acquired a new position in Cable One in the 4th quarter valued at $35,195,000. Private Management Group Inc. lifted its stake in shares of Cable One by 648.3% in the first quarter. Private Management Group Inc. now owns 66,559 shares of the company’s stock worth $28,163,000 after buying an additional 57,664 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cable One by 11.0% during the 1st quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock worth $207,409,000 after purchasing an additional 48,513 shares during the last quarter. Finally, Burgundy Asset Management Ltd. lifted its position in Cable One by 26.2% during the first quarter. Burgundy Asset Management Ltd. now owns 204,081 shares of the company’s stock worth $86,353,000 after buying an additional 42,376 shares in the last quarter. Hedge funds and other institutional investors 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.