Cable One, Inc. (CABO) Announces Quarterly Earnings Results, Misses Expectations By $0.13 EPS
Cable One, Inc. (NYSE:CABO) posted its quarterly earnings data on Tuesday. The company reported $4.97 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $5.10 by $0.13, MarketWatch Earnings reports. Cable One had a return on equity of 23.30% and a net margin of 12.75%. The firm had revenue of $241 million for the quarter, compared to the consensus estimate of $247.02 million. During the same period in the prior year, the company earned $4.62 EPS. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year.
Cable One (CABO) opened at 749.20 on Wednesday. The company has a market cap of $4.29 billion, a PE ratio of 40.98 and a beta of 0.30. The stock has a 50 day moving average of $733.72 and a 200-day moving average of $675.01. Cable One has a 12-month low of $510.97 and a 12-month high of $788.00.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a $1.75 dividend. The ex-dividend date of this dividend is Friday, August 11th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.93%. This is a boost from Cable One’s previous quarterly dividend of $1.50. Cable One’s dividend payout ratio is 32.82%.
In other news, major shareholder Donald Graham sold 4,100 shares of Cable One stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $716.05, for a total transaction of $2,935,805.00. Following the completion of the sale, the insider now owns 246,985 shares in the company, valued at approximately $176,853,609.25. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Eric Michael Lardy sold 322 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $725.00, for a total value of $233,450.00. Following the completion of the sale, the senior vice president now owns 2,542 shares of the company’s stock, valued at approximately $1,842,950. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,022 shares of company stock valued at $6,483,807. Corporate insiders own 1.30% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Cable One by 6,855.3% in the first quarter. BlackRock Inc. now owns 439,785 shares of the company’s stock worth $274,634,000 after buying an additional 433,462 shares during the last quarter. Vanguard Group Inc. increased its stake in Cable One by 6.0% in the first quarter. Vanguard Group Inc. now owns 375,043 shares of the company’s stock worth $234,203,000 after buying an additional 21,111 shares during the last quarter. State Street Corp increased its stake in Cable One by 2.0% in the first quarter. State Street Corp now owns 126,304 shares of the company’s stock worth $78,863,000 after buying an additional 2,479 shares during the last quarter. TimesSquare Capital Management LLC increased its stake in Cable One by 4.8% in the first quarter. TimesSquare Capital Management LLC now owns 113,674 shares of the company’s stock worth $70,986,000 after buying an additional 5,208 shares during the last quarter. Finally, William Blair Investment Management LLC increased its stake in Cable One by 7.3% in the second quarter. William Blair Investment Management LLC now owns 81,354 shares of the company’s stock worth $57,835,000 after buying an additional 5,517 shares during the last quarter. Institutional investors own 74.14% of the company’s stock.
CABO has been the subject of several recent analyst reports. TheStreet raised shares of Cable One from a “c” rating to a “b-” rating in a research report on Monday, June 12th. SunTrust Banks, Inc. began coverage on shares of Cable One in a report on Tuesday, April 18th. They issued a “buy” rating and a $715.00 target price for the company. Zacks Investment Research raised shares of Cable One from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. Finally, Raymond James Financial, Inc. began coverage on shares of Cable One in a report on Thursday, June 8th. They issued an “outperform” rating and a $785.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $655.75.
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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