Cable One, Inc. (NYSE:CABO) declared a quarterly dividend on Tuesday, November 10th, Zacks reports. Investors of record on Tuesday, November 24th will be given a dividend of 2.50 per share on Friday, December 11th. This represents a $10.00 annualized dividend and a yield of 0.50%. The ex-dividend date of this dividend is Monday, November 23rd.
Cable One has raised its dividend payment by 41.7% over the last three years and has raised its dividend annually for the last 3 consecutive years. Cable One has a dividend payout ratio of 21.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cable One to earn $47.57 per share next year, which means the company should continue to be able to cover its $10.00 annual dividend with an expected future payout ratio of 21.0%.
NYSE CABO opened at $2,009.58 on Friday. Cable One has a 1-year low of $1,031.39 and a 1-year high of $2,044.41. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 1.22. The company has a 50 day moving average of $1,863.64 and a 200-day moving average of $1,824.31. The firm has a market cap of $12.11 billion, a price-to-earnings ratio of 46.78 and a beta of 0.46.
Cable One (NYSE:CABO) last posted its earnings results on Thursday, November 5th. The company reported $10.96 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $10.70 by $0.26. The company had revenue of $339.00 million for the quarter, compared to analyst estimates of $336.08 million. Cable One had a net margin of 19.26% and a return on equity of 22.90%. The business's revenue for the quarter was up 18.9% compared to the same quarter last year. During the same period last year, the business posted $8.68 earnings per share. On average, analysts forecast that Cable One will post 45.07 earnings per share for the current year.
Several analysts recently issued reports on CABO shares. Zacks Investment Research upgraded Cable One from a "sell" rating to a "hold" rating in a report on Wednesday, November 4th. Truist Financial increased their target price on Cable One from $1,850.00 to $2,000.00 and gave the stock a "hold" rating in a research note on Tuesday, August 11th. Finally, Raymond James reiterated a "hold" rating on shares of Cable One in a research note on Thursday, November 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of "Hold" and an average price target of $1,849.14.
In related news, COO Michael E. Bowker sold 321 shares of the stock in a transaction on Monday, September 21st. The stock was sold at an average price of $1,701.22, for a total value of $546,091.62. Following the transaction, the chief operating officer now directly owns 2,857 shares in the company, valued at approximately $4,860,385.54. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Michael E. Bowker sold 302 shares of the stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $1,793.40, for a total value of $541,606.80. Following the completion of the transaction, the chief operating officer now owns 2,857 shares in the company, valued at $5,123,743.80. The disclosure for this sale can be found here. Insiders sold 1,815 shares of company stock worth $3,382,029 over the last quarter. 1.30% of the stock is currently owned by company insiders.
About Cable One
Cable One, Inc 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 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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