Cable One, Inc. (CABO) 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 report report published on Thursday.
Other equities research analysts have also issued research reports about the stock. TheStreet raised 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 report on Thursday, June 8th. They issued an outperform rating and a $785.00 price target on the stock. Finally, Zacks Investment Research raised shares of Cable One from a strong sell rating to a hold rating in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Cable One presently has an average rating of Hold and an average target price of $693.75.
Cable One (NYSE:CABO) opened at 736.74 on Thursday. Cable One has a one year low of $548.22 and a one year high of $788.00. The firm has a market cap of $4.22 billion, a price-to-earnings ratio of 39.56 and a beta of 0.31. The stock’s 50 day moving average is $738.68 and its 200 day moving average is $688.56.
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 $5.10 by ($0.13). The firm had revenue of $241.00 million during the quarter, compared to the consensus estimate of $247.02 million. Cable One had a return on equity of 22.83% and a net margin of 12.44%. Cable One’s revenue was up 17.8% on a year-over-year basis. During the same period last year, the business earned $4.62 EPS. On average, analysts predict that Cable One will post $20.60 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were paid a dividend of $1.75 per share. This is a positive change from Cable One’s previous quarterly dividend of $1.50. The ex-dividend date of this dividend was Friday, August 11th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.95%. Cable One’s payout ratio is presently 37.57%.
In other news, COO Michael E. Bowker sold 1,244 shares of Cable One stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $740.59, for a total transaction of $921,293.96. Following the sale, the chief operating officer now owns 7,104 shares of the company’s stock, valued at approximately $5,261,151.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Donald Graham bought 24,561 shares of the business’s stock in a transaction dated Monday, July 24th. The shares were bought at an average cost of $742.52 per share, for a total transaction of $18,237,033.72. Following the purchase, the insider now directly owns 271,546 shares in the company, valued at approximately $201,628,335.92. The disclosure for this purchase can be found here. Insiders have sold a total of 2,561 shares of company stock worth $1,893,119 in the last ninety days. Insiders own 1.30% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Great Lakes Advisors LLC bought a new stake in shares of Cable One during the 2nd quarter valued at about $1,905,000. Bank of New York Mellon Corp boosted its stake in shares of Cable One by 13.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 72,838 shares of the company’s stock valued at $51,780,000 after purchasing an additional 8,521 shares in the last quarter. TD Asset Management Inc. boosted its stake in shares of Cable One by 10.5% during the 1st quarter. TD Asset Management Inc. now owns 2,100 shares of the company’s stock valued at $1,311,000 after purchasing an additional 200 shares in the last quarter. K2 Principal Fund L.P. bought a new stake in shares of Cable One during the 1st quarter valued at about $1,561,000. Finally, Macquarie Group Ltd. boosted its stake in shares of Cable One by 2.6% during the 1st quarter. Macquarie Group Ltd. now owns 65,359 shares of the company’s stock valued at $40,815,000 after purchasing an additional 1,661 shares in the last quarter. 70.34% of the stock is currently owned by hedge funds and other institutional investors.
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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