Cable One, Inc. (NYSE:CABO) Rating Lowered 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 released on Friday.
CABO has been the topic of several other reports. SunTrust Banks, Inc. initiated coverage on shares of Cable One in a research note on Tuesday, April 18th. They issued a buy rating and a $715.00 price target on the stock. Zacks Investment Research lowered shares of Cable One from a hold rating to a strong sell rating in a research note on Tuesday, July 4th. Raymond James Financial, Inc. initiated coverage on shares of Cable One in a research note on Thursday, June 8th. They issued an outperform rating and a $785.00 price target on the stock. Finally, TheStreet upgraded shares of Cable One from a c rating to a b- rating in a research note on Monday, June 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $693.75.
Shares of Cable One (CABO) opened at 736.33 on Friday. Cable One has a one year low of $527.75 and a one year high of $788.00. The company has a 50-day moving average of $737.30 and a 200-day moving average of $681.77. The company has a market capitalization of $4.22 billion, a PE ratio of 39.54 and a beta of 0.30.
Cable One (NYSE:CABO) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.10 by $0.13. Cable One had a net margin of 12.44% and a return on equity of 22.83%. The business had revenue of $241 million during the quarter, compared to analyst estimates of $247.02 million. During the same quarter in the previous year, the firm posted $4.62 earnings per share. The firm’s quarterly revenue was up 17.8% on a year-over-year basis. On average, analysts anticipate that Cable One will post $20.21 earnings per share for the current year.
The firm also recently declared 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 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%. The ex-dividend date is Friday, August 11th. Cable One’s payout ratio is presently 32.21%.
In other news, major shareholder Donald Graham sold 4,100 shares of Cable One stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $716.05, for a total value of $2,935,805.00. Following the completion of the transaction, the insider now owns 246,985 shares of the company’s stock, valued at approximately $176,853,609.25. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $725.00, for a total transaction of $233,450.00. Following the completion of the transaction, the senior vice president now directly owns 2,542 shares of the company’s stock, valued at approximately $1,842,950. The disclosure for this sale can be found here. In the last three months, insiders sold 9,022 shares of company stock valued at $6,483,807. Insiders own 1.30% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its position in shares of Cable One by 0.5% in the fourth quarter. FMR LLC now owns 4,098 shares of the company’s stock worth $2,548,000 after buying an additional 20 shares during the period. First Manhattan Co. increased its position in shares of Cable One by 17.1% in the first quarter. First Manhattan Co. now owns 2,318 shares of the company’s stock worth $1,353,000 after buying an additional 339 shares during the period. TD Asset Management Inc. increased its position in shares of Cable One by 10.5% in the first quarter. TD Asset Management Inc. now owns 2,100 shares of the company’s stock worth $1,311,000 after buying an additional 200 shares during the period. K2 Principal Fund L.P. purchased a new position in shares of Cable One during the first quarter worth approximately $1,561,000. Finally, Macquarie Group Ltd. increased its position in shares of Cable One by 2.6% in the first quarter. Macquarie Group Ltd. now owns 65,359 shares of the company’s stock worth $40,815,000 after buying an additional 1,661 shares during the period. 75.66% 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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