Cable One, Inc. (NYSE:CABO - Get Free Report) hit a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $369.13 and last traded at $400.78, with a volume of 28457 shares trading hands. The stock had previously closed at $395.98.
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 for the quarter, compared to the consensus estimate of $408.79 million. Cable One had a net margin of 15.94% and a return on equity of 13.65%. The company's quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $9.62 earnings per share.
Cable One Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were given a dividend of $2.95 per share. This represents a $11.80 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend was Friday, February 16th. Cable One's payout ratio is 26.12%.
Wall Street Analysts Forecast Growth
CABO has been the subject of a number of research reports. Moffett Nathanson raised shares of Cable One from a "neutral" rating to a "buy" rating and set a $615.00 price objective for the company in a research note on Tuesday, March 5th. TD Cowen decreased their price objective on Cable One from $650.00 to $456.00 and set a "hold" rating on the stock in a report on Friday. KeyCorp reduced their price target on Cable One from $900.00 to $881.00 and set an "overweight" rating on the stock in a research report on Thursday, April 4th. Finally, Wells Fargo & Company dropped their price objective on Cable One from $400.00 to $350.00 and set an "underweight" rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $590.83.
Read Our Latest Stock Analysis on Cable One
Insider Buying and Selling at Cable One
In other Cable One news, insider Christopher D. Boone sold 204 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the transaction, the insider now owns 1,854 shares of the company's stock, valued at approximately $852,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by corporate insiders.
Institutional Trading of Cable One
A number of large investors have recently made changes to their positions in CABO. Vanguard Group Inc. increased its holdings in shares of Cable One by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 441,665 shares of the company's stock valued at $245,826,000 after acquiring an additional 2,681 shares during the period. Rothschild & Co Wealth Management UK Ltd raised its stake in Cable One by 1.7% in the third quarter. Rothschild & Co Wealth Management UK Ltd now owns 279,010 shares of the company's stock valued at $171,770,000 after buying an additional 4,689 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of Cable One by 11.5% during 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 in the last quarter. Burgundy Asset Management Ltd. grew its holdings in shares of Cable One by 4.3% during the fourth quarter. Burgundy Asset Management Ltd. now owns 161,705 shares of the company's stock valued at $90,003,000 after buying an additional 6,608 shares during the last quarter. Finally, River Road Asset Management LLC grew its holdings in shares of Cable One by 20.4% during the 3rd quarter. River Road Asset Management LLC now owns 111,388 shares of the company's stock worth $68,575,000 after purchasing an additional 18,896 shares during the period. 89.92% of the stock is owned by hedge funds and other institutional investors.
Cable One Trading Down 4.5 %
The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 8.37 and a beta of 0.80. The business's 50-day simple moving average is $419.75 and its two-hundred day simple moving average is $500.69. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.94.
About Cable One
(
Get Free Report)
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.
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