Cable One, Inc. (CABO) Expected to Post Quarterly Sales of $255.78 Million
Equities analysts predict that Cable One, Inc. (NYSE:CABO) will post $255.78 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Cable One’s earnings, with estimates ranging from $255.20 million to $256.44 million. Cable One posted sales of $205.54 million during the same quarter last year, which suggests a positive year-over-year growth rate of 24.4%. The firm is scheduled to announce its next earnings results on Wednesday, November 1st.
On average, analysts expect that Cable One will report full-year sales of $255.78 million for the current year, with estimates ranging from $959.14 million to $1.03 billion. For the next year, analysts forecast that the firm will report sales of $1.04 billion per share, with estimates ranging from $1.04 billion to $1.05 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Cable One.
Cable One (NYSE:CABO) last released its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 earnings per share for the quarter, missing the consensus estimate of $5.10 by ($0.13). Cable One had a return on equity of 22.83% and a net margin of 12.44%. The company had revenue of $241.00 million for the quarter, compared to analyst estimates of $247.02 million. During the same quarter last year, the company earned $4.62 EPS. The firm’s revenue for the quarter was up 17.8% on a year-over-year basis.
Several analysts recently commented on CABO shares. Zacks Investment Research cut 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. lifted their target price on shares of Cable One from $785.00 to $815.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. BidaskClub cut shares of Cable One from a “buy” rating to a “hold” rating in a research report on Thursday, September 21st. Finally, TheStreet upgraded shares of Cable One from a “c” rating to a “b-” rating in a research report on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $693.75.
In other news, COO Michael E. Bowker sold 1,244 shares of the business’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $740.59, for a total value 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Donald Graham acquired 8,187 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 279,733 shares of the company’s stock, valued at $207,707,347.16. The disclosure for this purchase can be found here. In the last three months, insiders sold 2,561 shares of company stock valued at $1,893,119. Company insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of CABO. BlackRock Inc. raised its position in shares of 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 last quarter. Neuberger Berman Group LLC raised its position in shares of Cable One by 5,057.0% in the second quarter. Neuberger Berman Group LLC now owns 68,743 shares of the company’s stock valued at $48,869,000 after buying an additional 67,410 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Cable One by 92.3% in the second quarter. Renaissance Technologies LLC now owns 137,200 shares of the company’s stock valued at $97,535,000 after buying an additional 65,847 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Cable One in the second quarter valued at approximately $33,648,000. Finally, Vaughan Nelson Investment Management L.P. raised its position in shares of Cable One by 138.6% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 60,645 shares of the company’s stock valued at $43,112,000 after buying an additional 35,230 shares during the last quarter. 70.34% of the stock is owned by institutional investors and hedge funds.
Cable One (CABO) opened at 722.12 on Friday. The company’s 50 day moving average is $737.37 and its 200 day moving average is $737.37. Cable One has a 52-week low of $559.83 and a 52-week high of $754.00. The firm has a market cap of $4.13 billion, a P/E ratio of 38.78 and a beta of 0.31.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were given a dividend of $1.75 per share. The ex-dividend date of this dividend was Friday, August 11th. This represents a $7.00 dividend on an annualized basis and a yield of 0.97%. This is a boost from Cable One’s previous quarterly dividend of $1.50. Cable One’s payout ratio is presently 37.57%.
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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