Cable One, Inc. (CABO) Cut to “Buy” at BidaskClub
BidaskClub lowered shares of Cable One, Inc. (NYSE:CABO) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.
A number of other research analysts have also recently commented on CABO. Raymond James Financial, Inc. started coverage on Cable One in a research report on Thursday, June 8th. They issued an outperform rating and a $785.00 price target on the stock. TheStreet upgraded Cable One from a c rating to a b- rating in a research report on Monday, June 12th. Finally, Zacks Investment Research upgraded Cable One from a strong sell rating to a hold rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $693.75.
Shares of Cable One (CABO) opened at 736.74 on Thursday. Cable One has a 52 week low of $551.59 and a 52 week high of $754.00. The stock has a 50 day moving average of $738.68 and a 200 day moving average of $688.56. The firm has a market cap of $4.22 billion, a P/E ratio of 39.56 and a beta of 0.31.
Cable One (NYSE:CABO) last issued its quarterly 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 $241.00 million during the quarter, compared to the consensus estimate of $247.02 million. During the same quarter in the previous year, the business posted $4.62 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis. Analysts anticipate that Cable One will post $20.60 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $1.75 dividend. The ex-dividend date was Friday, August 11th. This is a positive change from Cable One’s previous quarterly dividend of $1.50. This represents a $7.00 annualized dividend and a yield of 0.95%. Cable One’s dividend payout ratio (DPR) is 37.57%.
In other Cable One news, major shareholder Donald Graham acquired 24,561 shares of Cable One stock in a transaction that occurred on Monday, July 24th. The shares were acquired at an average cost of $742.52 per share, with a total value of $18,237,033.72. Following the completion of the purchase, the insider now directly owns 271,546 shares of the company’s stock, valued at approximately $201,628,335.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 completion of the sale, the chief executive officer now directly owns 7,642 shares in the company, valued at $5,627,186.70. The disclosure for this sale can be found here. Insiders sold 2,561 shares of company stock worth $1,893,119 over the last ninety days. 1.30% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its stake in Cable One by 28.3% in the second quarter. Victory Capital Management Inc. now owns 163 shares of the company’s stock valued at $116,000 after buying an additional 36 shares in the last quarter. Quantbot Technologies LP acquired a new stake in shares of Cable One during the first quarter valued at about $115,000. US Bancorp DE boosted its stake in shares of Cable One by 16.2% during the first quarter. US Bancorp DE now owns 230 shares of the company’s stock valued at $144,000 after purchasing an additional 32 shares in the last quarter. Virtu KCG Holdings LLC acquired a new stake in shares of Cable One during the second quarter valued at about $209,000. Finally, Stonebridge Capital Management Inc. acquired a new stake in shares of Cable One during the second quarter valued at about $213,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.
Cable One Company Profile
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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