Cable One Inc (CABO) Receives Average Rating of “Buy” from Analysts
Cable One Inc (NYSE:CABO) has been given a consensus broker rating score of 2.33 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company. Cable One’s rating score has improved by 22.3% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a 12 month consensus target price of $595.50 for the company and are anticipating that the company will post $5.60 earnings per share for the current quarter, according to Zacks. Zacks has also given Cable One an industry rank of 207 out of 265 based on the ratings given to related companies.
A number of analysts recently issued reports on CABO shares. Zacks Investment Research downgraded Cable One from a “buy” rating to a “sell” rating in a research report on Wednesday, May 10th. SunTrust Banks, Inc. started coverage on Cable One in a research report on Tuesday, April 18th. They issued a “buy” rating and a $715.00 price target for the company.
In other Cable One news, CFO Kevin P. Coyle sold 497 shares of Cable One stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $633.94, for a total value of $315,068.18. Following the transaction, the chief financial officer now owns 4,440 shares in the company, valued at $2,814,693.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Katharine Weymouth sold 5,000 shares of Cable One stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $627.56, for a total value of $3,137,800.00. Following the completion of the transaction, the director now owns 8,159 shares in the company, valued at approximately $5,120,262.04. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently modified their holdings of the company. BlackRock Inc. increased its stake 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 in the last quarter. Renaissance Technologies LLC increased its stake in shares of Cable One by 185.4% in the first quarter. Renaissance Technologies LLC now owns 71,353 shares of the company’s stock valued at $44,558,000 after buying an additional 46,353 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Cable One by 231.0% in the fourth quarter. Macquarie Group Ltd. now owns 63,698 shares of the company’s stock valued at $39,603,000 after buying an additional 44,453 shares in the last quarter. Norges Bank acquired a new stake in shares of Cable One during the fourth quarter valued at $27,365,000. Finally, Hancock Holding Co. acquired a new stake in shares of Cable One during the third quarter valued at $16,199,000. 69.17% of the stock is owned by institutional investors and hedge funds.
Cable One (NYSE:CABO) traded up 0.34% during mid-day trading on Wednesday, reaching $695.83. 32,761 shares of the company were exchanged. The stock has a 50-day moving average price of $662.88 and a 200 day moving average price of $628.49. Cable One has a one year low of $471.24 and a one year high of $699.65. The company has a market capitalization of $3.98 billion, a PE ratio of 38.06 and a beta of 0.32.
Cable One (NYSE:CABO) last posted its earnings results on Thursday, May 4th. The company reported $5.80 EPS for the quarter, beating analysts’ consensus estimates of $5.62 by $0.18. The firm had revenue of $207.43 million during the quarter, compared to the consensus estimate of $205.97 million. Cable One had a return on equity of 23.31% and a net margin of 12.33%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the company earned $4.65 EPS. Analysts predict that Cable One will post $25.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Tuesday, May 16th will be paid a dividend of $1.50 per share. The ex-dividend date is Friday, May 12th. This represents a $6.00 annualized dividend and a dividend yield of 0.86%. Cable One’s dividend payout ratio is currently 34.60%.
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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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