Cable One, Inc. (NYSE:CABO – Get Free Report)’s stock price dropped 5.6% during trading on Monday . The stock traded as low as $337.80 and last traded at $337.80. Approximately 14,416 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 111,038 shares. The stock had previously closed at $357.83.
Analysts Set New Price Targets
CABO has been the subject of several recent analyst reports. TD Cowen lowered their target price on shares of Cable One from $650.00 to $456.00 and set a “hold” rating for the company in a research note on Friday, May 3rd. KeyCorp lowered their target price on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Wells Fargo & Company lowered their target price on shares of Cable One from $400.00 to $350.00 and set an “underweight” rating for the company in a research note on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $590.83.
Cable One Price Performance
The company has a market cap of $1.93 billion, a price-to-earnings ratio of 7.70 and a beta of 0.83. The company has a quick ratio of 1.86, a current ratio of 1.86 and a debt-to-equity ratio of 1.86. The company’s fifty day moving average price is $362.18 and its two-hundred day moving average price is $425.44.
Cable One (NYSE:CABO – Get Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $8.11 earnings per share for the quarter, missing the consensus estimate of $10.78 by ($2.67). The company had revenue of $404.30 million during the quarter, compared to analyst estimates of $408.79 million. Cable One had a net margin of 15.50% and a return on equity of 12.76%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the company earned $9.62 EPS. On average, equities research analysts forecast that Cable One, Inc. will post 32.21 EPS for the current fiscal year.
Cable One Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Tuesday, May 28th were issued a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 3.44%. The ex-dividend date was Friday, May 24th. Cable One’s payout ratio is 27.02%.
Insider Buying and Selling
In other Cable One news, Director Wallace R. Weitz bought 1,000 shares of Cable One stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average price of $369.98 per share, for a total transaction of $369,980.00. Following the completion of the acquisition, the director now owns 4,565 shares of the company’s stock, valued at approximately $1,688,958.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Cable One
A number of large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Cable One by 11.0% in the first quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock valued at $207,409,000 after acquiring an additional 48,513 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Cable One by 11.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 268,504 shares of the company’s stock valued at $149,447,000 after acquiring an additional 27,635 shares during the last quarter. Burgundy Asset Management Ltd. lifted its stake in Cable One by 26.2% in the first quarter. Burgundy Asset Management Ltd. now owns 204,081 shares of the company’s stock valued at $86,353,000 after acquiring an additional 42,376 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in Cable One by 1,906.2% in the first quarter. Canada Pension Plan Investment Board now owns 160,496 shares of the company’s stock valued at $67,911,000 after acquiring an additional 152,496 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Cable One by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 110,375 shares of the company’s stock valued at $61,435,000 after purchasing an additional 15,907 shares during the period. Institutional investors and hedge funds own 89.92% of the company’s stock.
Cable One Company Profile
Cable One, Inc, together with its subsidiaries, provides data, video, and voice services in the United States. The company offers residential data services, a service to enhance Wi-Fi signal throughout the home. It also provides various residential video services from basic video service to digital services with access to hundreds of channels; and provides a cloud-based DVR feature that does not require the use of a set-top boxes.