Cable One, Inc. (CABO) Upgraded to Hold by Zacks Investment Research
Zacks Investment Research upgraded shares of Cable One, Inc. (NYSE:CABO) from a strong sell rating to a hold rating in a research report released on Monday, July 10th.
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. “
A number of other analysts also recently issued reports on the stock. TheStreet upgraded shares of Cable One from a c rating to a b- rating in a report on Monday, June 12th. Raymond James Financial, Inc. assumed coverage on shares of Cable One in a research note on Thursday, June 8th. They issued an outperform rating and a $785.00 price objective for the company. Finally, SunTrust Banks, Inc. assumed coverage on shares of Cable One in a research note on Tuesday, April 18th. They issued a buy rating and a $715.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of Hold and an average target price of $655.75.
Cable One (NYSE CABO) traded down 1.51% during midday trading on Monday, hitting $749.20. The company had a trading volume of 80,288 shares. The firm has a market capitalization of $4.29 billion, a P/E ratio of 40.98 and a beta of 0.30. The firm’s 50 day moving average is $733.72 and its 200-day moving average is $675.01. Cable One has a 52 week low of $510.97 and a 52 week high of $788.00.
Cable One (NYSE:CABO) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.36 by $0.39. The company had revenue of $241 million during the quarter, compared to the consensus estimate of $247.02 million. Cable One had a net margin of 12.75% and a return on equity of 23.30%. The business’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.62 earnings per share. On average, equities research analysts expect that Cable One will post $18.42 EPS for the current fiscal year.
The firm also recently disclosed 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 is a boost from Cable One’s previous quarterly dividend of $1.50. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, August 11th. Cable One’s dividend payout ratio (DPR) is presently 32.82%.
In other news, major shareholder Donald Graham purchased 8,187 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was purchased at an average cost of $742.52 per share, with a total value of $6,079,011.24. Following the purchase, the insider now owns 279,733 shares in the company, valued at $207,707,347.16. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the transaction, the senior vice president now directly owns 2,542 shares of the company’s stock, valued at $1,842,950. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,022 shares of company stock valued at $6,483,807. 1.30% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its stake in Cable One by 6,855.3% in the first quarter. BlackRock Inc. now owns 439,785 shares of the company’s stock valued at $274,634,000 after buying an additional 433,462 shares during the period. Vanguard Group Inc. boosted its stake in Cable One by 6.0% in the first quarter. Vanguard Group Inc. now owns 375,043 shares of the company’s stock valued at $234,203,000 after buying an additional 21,111 shares during the period. State Street Corp boosted its stake in Cable One by 2.0% in the first quarter. State Street Corp now owns 126,304 shares of the company’s stock valued at $78,863,000 after buying an additional 2,479 shares during the period. TimesSquare Capital Management LLC boosted its stake in Cable One by 4.8% in the first quarter. TimesSquare Capital Management LLC now owns 113,674 shares of the company’s stock valued at $70,986,000 after buying an additional 5,208 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Cable One by 7.3% in the second quarter. William Blair Investment Management LLC now owns 81,354 shares of the company’s stock valued at $57,835,000 after buying an additional 5,517 shares during the period. 74.14% of the stock is owned by 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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