Cable One, Inc. (NYSE:CABO) Declares $2.95 Quarterly Dividend

Cable One, Inc. (NYSE:CABO) declared a quarterly dividend on Friday, August 16th, Wall Street Journal reports. Stockholders of record on Tuesday, August 27th will be given a dividend of 2.95 per share on Friday, September 13th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, August 27th.

Cable One has raised its dividend by an average of 6.9% annually over the last three years. Cable One has a dividend payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cable One to earn $38.58 per share next year, which means the company should continue to be able to cover its $11.80 annual dividend with an expected future payout ratio of 30.6%.

Cable One Stock Down 0.7 %

NYSE:CABO traded down $2.52 during trading hours on Friday, reaching $365.17. The company’s stock had a trading volume of 97,852 shares, compared to its average volume of 111,579. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.86 and a current ratio of 1.86. The company has a market capitalization of $2.05 billion, a P/E ratio of 8.33 and a beta of 0.83. The stock has a 50 day moving average price of $365.41 and a two-hundred day moving average price of $405.86. Cable One has a 12 month low of $318.68 and a 12 month high of $675.72.

Cable One (NYSE:CABO) last released its quarterly earnings results on Thursday, August 1st. The company reported $8.16 EPS for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The business had revenue of $394.46 million during the quarter, compared to analysts’ expectations of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 11.84%. The company’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the business posted $10.43 earnings per share. Equities analysts predict that Cable One will post 32.21 EPS for the current fiscal year.

Wall Street Analyst Weigh In

CABO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on shares of Cable One from $470.00 to $480.00 and gave the stock a “neutral” rating in a report on Tuesday, August 6th. Wells Fargo & Company dropped their price target on Cable One from $400.00 to $350.00 and set an “underweight” rating on the stock in a research note on Friday, May 3rd. Finally, TD Cowen decreased their target price on Cable One from $650.00 to $456.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $533.33.

Insider Buying and Selling

In other Cable One news, Director Wallace R. Weitz acquired 1,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $369.98 per share, with a total value of $369,980.00. Following the completion of the acquisition, the director now owns 4,565 shares in the company, valued at $1,688,958.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

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.