Cable One (NYSE:CABO) posted its quarterly earnings data on Wednesday. The company reported $6.35 EPS for the quarter, missing the Zacks’ consensus estimate of $7.76 by ($1.41), Briefing.com reports. Cable One had a return on equity of 21.25% and a net margin of 14.10%. The company had revenue of $285.70 million for the quarter, compared to the consensus estimate of $283.61 million. During the same quarter last year, the business earned $7.65 EPS. Cable One’s revenue was up 6.4% on a year-over-year basis.
Shares of CABO traded up $4.30 during midday trading on Friday, hitting $1,260.01. The company’s stock had a trading volume of 50,700 shares, compared to its average volume of 47,136. Cable One has a one year low of $754.43 and a one year high of $1,271.15. The company’s fifty day moving average price is $1,201.91. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market cap of $7.18 billion, a PE ratio of 43.80 and a beta of 0.43.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Stockholders of record on Tuesday, August 20th will be paid a $2.25 dividend. This is a positive change from Cable One’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, August 19th. This represents a $9.00 annualized dividend and a dividend yield of 0.71%. Cable One’s dividend payout ratio (DPR) is presently 27.81%.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its holdings in shares of Cable One by 2.4% during the 1st quarter. BlackRock Inc. now owns 430,007 shares of the company’s stock valued at $422,000,000 after acquiring an additional 10,238 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Cable One by 39.7% during the 2nd quarter. William Blair Investment Management LLC now owns 132,761 shares of the company’s stock valued at $155,462,000 after acquiring an additional 37,728 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Cable One by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 78,327 shares of the company’s stock valued at $64,236,000 after acquiring an additional 989 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Cable One by 43.6% during the 2nd quarter. Wells Fargo & Company MN now owns 72,179 shares of the company’s stock valued at $84,521,000 after acquiring an additional 21,931 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Cable One by 10.3% during the 4th quarter. Geode Capital Management LLC now owns 47,520 shares of the company’s stock valued at $38,970,000 after acquiring an additional 4,420 shares in the last quarter. Institutional investors own 77.26% of the company’s stock.
A number of research firms have commented on CABO. SunTrust Banks raised their price objective on Cable One to $1,020.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. They noted that the move was a valuation call. Stephens began coverage on Cable One in a research note on Wednesday, June 26th. They set an “equal weight” rating and a $1,200.00 price objective on the stock. Wolfe Research upgraded Cable One from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, July 23rd. Zacks Investment Research upgraded Cable One from a “hold” rating to a “buy” rating and set a $1,309.00 price objective on the stock in a research note on Tuesday. Finally, B. Riley restated a “buy” rating and set a $1,250.00 price objective (up previously from $1,090.00) on shares of Cable One in a research note on Tuesday, June 4th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $1,219.00.
Cable One Company Profile
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.
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