Equities researchers at SunTrust Banks, Inc. began coverage on shares of Cable One Inc (NYSE:CABO) in a report released on Tuesday, April 18th. The firm set a “buy” rating and a $715.00 price target on the stock. SunTrust Banks, Inc.’s price objective suggests a potential upside of 4.85% from the company’s current price.
A number of other brokerages have also recently commented on CABO. Moffett Nathanson cut shares of Cable One from a “neutral” rating to a “sell” rating and set a $408.00 target price on the stock. in a report on Wednesday, January 4th. Zacks Investment Research raised shares of Cable One from a “strong sell” rating to a “hold” rating in a research note on Tuesday, March 7th.
Shares of Cable One (NYSE:CABO) traded up 1.41% during midday trading on Tuesday, hitting $691.54. 24,289 shares of the company traded hands. The stock has a market capitalization of $3.96 billion, a P/E ratio of 37.83 and a beta of 0.32. The company has a 50-day moving average price of $657.57 and a 200-day moving average price of $625.26. Cable One has a 52 week low of $471.24 and a 52 week high of $693.80.
Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, May 4th. The company reported $5.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.62 by $0.18. The company had revenue of $207.43 million during the quarter, compared to the consensus estimate of $205.97 million. Cable One had a net margin of 12.33% and a return on equity of 23.31%. The firm’s quarterly revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.65 earnings per share. Analysts anticipate that Cable One will post $25.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Tuesday, May 16th will be paid a dividend of $1.50 per share. This represents a $6.00 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Friday, May 12th. Cable One’s dividend payout ratio is currently 34.60%.
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In other Cable One news, CFO Kevin P. Coyle sold 497 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $633.94, for a total value of $315,068.18. Following the completion of the sale, the chief financial officer now owns 4,440 shares of the company’s stock, valued at $2,814,693.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katharine Weymouth sold 5,000 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $627.56, for a total value of $3,137,800.00. Following the transaction, the director now owns 8,159 shares of the company’s stock, valued at $5,120,262.04. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in CABO. Quantbot Technologies LP bought a new stake in shares of Cable One during the first quarter valued at $115,000. US Bancorp DE raised its stake in shares of Cable One by 2.6% in the third quarter. US Bancorp DE now owns 198 shares of the company’s stock valued at $116,000 after buying an additional 5 shares in the last quarter. Envestnet Asset Management Inc. bought a new stake in shares of Cable One during the fourth quarter valued at $187,000. LS Investment Advisors LLC raised its stake in shares of Cable One by 15.8% in the third quarter. LS Investment Advisors LLC now owns 307 shares of the company’s stock valued at $179,000 after buying an additional 42 shares in the last quarter. Finally, World Asset Management Inc bought a new stake in shares of Cable One during the first quarter valued at $202,000. Hedge funds and other institutional investors own 69.17% of the company’s stock.
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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