Cable One Inc. (NYSE:CABO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.

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. “

Shares of Cable One (NYSE:CABO) traded down 1.31% during mid-day trading on Wednesday, hitting $591.06. 40,358 shares of the stock were exchanged. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 34.07 and a beta of 0.32. The company has a 50-day moving average price of $581.65 and a 200-day moving average price of $542.06. Cable One has a 12 month low of $390.00 and a 12 month high of $609.19.

Cable One (NYSE:CABO) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $3.63 earnings per share for the quarter, missing analysts’ consensus estimates of $4.69 by $1.06. The firm earned $205.50 million during the quarter, compared to analysts’ expectations of $203.48 million. Cable One had a net margin of 12.33% and a return on equity of 23.31%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 EPS. Equities analysts expect that Cable One will post $16.70 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Tuesday, November 15th will be paid a $1.50 dividend. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Thursday, November 10th. Cable One’s dividend payout ratio (DPR) is presently 34.60%.

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Several hedge funds have recently modified their holdings of the company. A.R.T. Advisors LLC bought a new stake in shares of Cable One during the first quarter worth about $665,000. BNP Paribas Arbitrage SA increased its stake in shares of Cable One by 3,637.5% in the second quarter. BNP Paribas Arbitrage SA now owns 1,794 shares of the company’s stock worth $917,000 after buying an additional 1,746 shares during the period. Capstone Asset Management Co. bought a new stake in shares of Cable One during the second quarter worth about $237,000. IBM Retirement Fund bought a new stake in shares of Cable One during the second quarter worth about $242,000. Finally, LS Investment Advisors LLC increased its stake in shares of Cable One by 67.7% in the second quarter. LS Investment Advisors LLC now owns 265 shares of the company’s stock worth $136,000 after buying an additional 107 shares during the period. 69.83% of the stock is owned by institutional investors and hedge funds.

About Cable One

Cable One, Inc is a provider of data, video and voice services in approximately 20 Western, Midwestern and Southern states. The Company’s products include Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. It provides these broadband services to residential and business customers in approximately 40 cable systems covering over 400 cities and towns.

5 Day Chart for NYSE:CABO

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