Cable One, Inc. (NYSE:CABO) had its price target lifted by Raymond James Financial, Inc. from $785.00 to $815.00 in a research note released on Wednesday, August 9th. They currently have an outperform rating on the stock.
A number of other equities analysts have also recently commented on CABO. Zacks Investment Research raised Cable One from a strong sell rating to a hold rating in a report on Monday, July 10th. TheStreet raised Cable One from a c rating to a b- rating in a report on Monday, June 12th. Finally, SunTrust Banks, Inc. began coverage on Cable One in a research note on Tuesday, April 18th. They issued a buy rating and a $715.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $693.75.
Shares of Cable One (CABO) traded up 1.07% during trading on Wednesday, hitting $740.00. The stock had a trading volume of 29,101 shares. The stock’s 50-day moving average price is $740.27 and its 200 day moving average price is $684.01. The firm has a market capitalization of $4.24 billion, a P/E ratio of 39.74 and a beta of 0.30. Cable One has a 1-year low of $527.75 and a 1-year high of $788.00.
Cable One (NYSE:CABO) last announced its earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing the Zacks’ consensus estimate of $5.10 by $0.13. Cable One had a return on equity of 22.83% and a net margin of 12.44%. The company had revenue of $241 million during the quarter, compared to the consensus estimate of $247.02 million. During the same period in the prior year, the business posted $4.62 earnings per share. Cable One’s revenue for the quarter was up 17.8% compared to the same quarter last year. On average, analysts anticipate that Cable One will post $20.60 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be paid a $1.75 dividend. This represents a $7.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Friday, August 11th. This is a positive change from Cable One’s previous quarterly dividend of $1.50. Cable One’s dividend payout ratio is presently 37.57%.
In other news, major shareholder Donald Graham sold 4,100 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $716.05, for a total transaction of $2,935,805.00. Following the completion of the transaction, the insider now owns 246,985 shares in the company, valued at $176,853,609.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Julia M. Laulis sold 867 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $736.35, for a total value of $638,415.45. Following the transaction, the chief executive officer now owns 7,642 shares of the company’s stock, valued at approximately $5,627,186.70. The disclosure for this sale can be found here. Insiders sold a total of 9,889 shares of company stock valued at $7,122,222 in the last quarter. 1.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in CABO. Quantbot Technologies LP acquired a new position in shares of Cable One during the first quarter worth approximately $115,000. Victory Capital Management Inc. increased its position in shares of Cable One by 28.3% in the second quarter. Victory Capital Management Inc. now owns 163 shares of the company’s stock worth $116,000 after buying an additional 36 shares during the last quarter. US Bancorp DE increased its position in shares of Cable One by 16.2% in the first quarter. US Bancorp DE now owns 230 shares of the company’s stock worth $144,000 after buying an additional 32 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Cable One by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 307 shares of the company’s stock worth $192,000 after buying an additional 8 shares during the last quarter. Finally, World Asset Management Inc acquired a new position in shares of Cable One during the first quarter worth approximately $202,000. 75.66% of the stock is owned by hedge funds and other institutional investors.
About Cable One
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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