Cable One, Inc. (CABO) Upgraded by Zacks Investment Research to “Strong-Buy”
Zacks Investment Research upgraded shares of Cable One, Inc. (NYSE:CABO) from a hold rating to a strong-buy rating in a research note issued to investors on Monday morning. They currently have $787.00 price objective on the stock.
According to Zacks, “Cable One, Inc. is a cable company. The Company provides internet, cable television and telephone service primarily in the United States. Cable One, Inc. is based in Phoenix, United States. “
Other research analysts have also recently issued research reports about the stock. Raymond James Financial, Inc. upped their price target on shares of Cable One from $785.00 to $815.00 and gave the stock an outperform rating in a report on Wednesday, August 9th. BidaskClub cut shares of Cable One from a buy rating to a hold rating in a report on Monday, October 23rd. Wells Fargo & Company reaffirmed a market perform rating and issued a $700.00 price target (down previously from $761.00) on shares of Cable One in a report on Monday. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $815.00 price target on shares of Cable One in a report on Friday. Finally, J P Morgan Chase & Co cut shares of Cable One from a neutral rating to an underweight rating in a report on Monday. Two analysts have rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $705.00.
Shares of Cable One (NYSE CABO) traded down $13.62 during mid-day trading on Monday, reaching $670.36. 56,800 shares of the company’s stock were exchanged, compared to its average volume of 35,867. The company has a debt-to-equity ratio of 2.21, a current ratio of 1.34 and a quick ratio of 1.34. Cable One has a 1-year low of $564.26 and a 1-year high of $788.00. The company has a market cap of $3,918.78, a PE ratio of 33.40, a price-to-earnings-growth ratio of 10.27 and a beta of 0.24.
Cable One (NYSE:CABO) last issued its earnings results on Wednesday, November 8th. The company reported $5.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.20 by $0.28. Cable One had a net margin of 12.95% and a return on equity of 23.97%. The business had revenue of $253.85 million for the quarter, compared to analysts’ expectations of $255.68 million. During the same quarter in the previous year, the firm posted $3.63 EPS. The business’s revenue for the quarter was up 23.5% compared to the same quarter last year. analysts forecast that Cable One will post 22.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Tuesday, November 21st will be issued a $1.75 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $7.00 annualized dividend and a dividend yield of 1.04%. Cable One’s payout ratio is currently 34.18%.
In related news, CFO Kevin P. Coyle sold 450 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $740.91, for a total value of $333,409.50. Following the completion of the transaction, the chief financial officer now directly owns 4,440 shares in the company, valued at $3,289,640.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michael E. Bowker sold 1,244 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $740.59, for a total transaction of $921,293.96. Following the completion of the transaction, the chief operating officer now owns 7,104 shares of the company’s stock, valued at $5,261,151.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,561 shares of company stock worth $1,893,119. Insiders own 1.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp grew its position in Cable One by 13.2% in the second quarter. Bank of New York Mellon Corp now owns 72,838 shares of the company’s stock worth $51,780,000 after acquiring an additional 8,521 shares in the last quarter. BB&T Corp grew its position in Cable One by 23.8% in the third quarter. BB&T Corp now owns 15,452 shares of the company’s stock worth $11,158,000 after acquiring an additional 2,970 shares in the last quarter. Great Lakes Advisors LLC purchased a new position in Cable One in the second quarter worth $1,905,000. Prudential Financial Inc. grew its position in Cable One by 20.7% in the second quarter. Prudential Financial Inc. now owns 13,134 shares of the company’s stock worth $9,337,000 after acquiring an additional 2,249 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Cable One by 16.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 18,314 shares of the company’s stock worth $13,020,000 after acquiring an additional 2,523 shares in the last quarter. Institutional investors own 70.35% of the company’s stock.
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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