Cable One (NYSE:CABO) Sets New 52-Week High at $1,273.91

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Cable One Inc (NYSE:CABO) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $1,273.91 and last traded at $1,270.52, with a volume of 50037 shares changing hands. The stock had previously closed at $1,261.06.

A number of equities analysts have recently issued reports on the company. Zacks Investment Research downgraded Cable One from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. SunTrust Banks raised their price objective on Cable One to $1,020.00 and gave the company a “hold” rating in a research note on Friday, May 10th. They noted that the move was a valuation call. KeyCorp reaffirmed an “overweight” rating and issued a $1,316.00 price objective (up from $1,210.00) on shares of Cable One in a research note on Thursday, June 27th. Stephens initiated coverage on Cable One in a research note on Wednesday, June 26th. They issued an “equal weight” rating and a $1,200.00 price objective for the company. Finally, Wolfe Research raised Cable One from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Cable One presently has an average rating of “Hold” and an average price target of $1,219.00.

The stock has a market capitalization of $7.20 billion, a PE ratio of 44.34 and a beta of 0.43. The firm has a 50 day moving average of $1,227.36 and a two-hundred day moving average of $1,084.81. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.68.

Cable One (NYSE:CABO) last released its quarterly earnings data on Wednesday, August 7th. The company reported $6.35 earnings per share for the quarter, missing the consensus estimate of $7.76 by ($1.41). Cable One had a net margin of 14.10% and a return on equity of 21.26%. The firm had revenue of $285.70 million during the quarter, compared to analysts’ expectations of $283.61 million. During the same period in the previous year, the business earned $7.65 earnings per share. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. Equities research analysts forecast that Cable One Inc will post 30.22 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Tuesday, August 20th will be issued a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a yield of 0.71%. The ex-dividend date is Monday, August 19th. This is a boost from Cable One’s previous quarterly dividend of $2.00. Cable One’s dividend payout ratio is 31.28%.

In other Cable One news, insider Peter N. Witty sold 205 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $1,136.80, for a total transaction of $233,044.00. Following the sale, the insider now owns 2,093 shares in the company, valued at approximately $2,379,322.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Michael E. Bowker sold 300 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $1,246.80, for a total value of $374,040.00. Following the sale, the chief operating officer now owns 1,718 shares in the company, valued at approximately $2,142,002.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,143 shares of company stock worth $3,655,438. 1.10% of the stock is owned by insiders.

Large investors have recently made changes to their positions in the business. Advisory Services Network LLC boosted its holdings in shares of Cable One by 450.0% during the second quarter. Advisory Services Network LLC now owns 22 shares of the company’s stock worth $26,000 after purchasing an additional 18 shares during the last quarter. Machina Capital S.A.S. acquired a new stake in shares of Cable One during the second quarter worth $35,000. Quadrant Capital Group LLC boosted its holdings in shares of Cable One by 683.3% during the first quarter. Quadrant Capital Group LLC now owns 94 shares of the company’s stock worth $91,000 after purchasing an additional 82 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Cable One by 92.1% during the first quarter. BNP Paribas Arbitrage SA now owns 146 shares of the company’s stock worth $143,000 after purchasing an additional 70 shares during the last quarter. Finally, Hanseatic Management Services Inc. boosted its holdings in shares of Cable One by 23.3% during the first quarter. Hanseatic Management Services Inc. now owns 159 shares of the company’s stock worth $156,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

Cable One Company Profile (NYSE:CABO)

Cable One, Inc owns and operates cable systems that provide data, video, and voice services. The company offers residential data services, including WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, which comprise weather, shopping, and religious channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive electronic programming guide with parental controls.

Further Reading: How is a buy-side analyst different from a sell-side analyst?

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