Zacks Investment Research upgraded shares of Cable One, Inc. (NYSE:CABO) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday.
According to Zacks, “Cable One, Inc. is a cable company. The Company provides internet, cable television and telephone service primarily in the United States. Cable One, Inc. is based in Phoenix, United States. “
Other equities analysts have also recently issued research reports about the stock. TheStreet raised shares of Cable One from a c rating to a b- rating in a research note on Monday, June 12th. Raymond James Financial, Inc. began coverage on shares of Cable One in a research note on Thursday, June 8th. They issued an outperform rating and a $785.00 price objective on the stock. Finally, SunTrust Banks, Inc. began coverage on shares of Cable One in a research note on Tuesday, April 18th. They issued a buy rating and a $715.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. Cable One presently has an average rating of Hold and an average target price of $655.75.
Cable One (CABO) opened at 715.98 on Tuesday. The firm’s 50-day moving average is $698.74 and its 200 day moving average is $646.93. The firm has a market capitalization of $4.10 billion, a price-to-earnings ratio of 39.17 and a beta of 0.28. Cable One has a 12 month low of $471.24 and a 12 month high of $734.35.
Cable One (NYSE:CABO) last released its quarterly earnings results on Thursday, May 4th. The company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.18. Cable One had a net margin of 12.75% and a return on equity of 23.30%. The company had revenue of $207.43 million for the quarter, compared to the consensus estimate of $205.97 million. During the same period in the previous year, the firm earned $4.65 EPS. Cable One’s revenue was up 2.3% on a year-over-year basis. Equities analysts predict that Cable One will post $18.42 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Stockholders of record on Tuesday, May 16th were paid a $1.50 dividend. The ex-dividend date of this dividend was Friday, May 12th. This represents a $6.00 annualized dividend and a dividend yield of 0.84%. Cable One’s dividend payout ratio is currently 32.82%.
In other news, major shareholder Donald Graham sold 4,100 shares of Cable One stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $716.05, for a total value of $2,935,805.00. Following the transaction, the insider now owns 246,985 shares of the company’s stock, valued at approximately $176,853,609.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the completion of the transaction, the senior vice president now directly owns 2,542 shares in the company, valued at approximately $1,842,950. The disclosure for this sale can be found here. Insiders sold a total of 9,022 shares of company stock worth $6,483,807 in the last ninety days. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new position in Cable One during the fourth quarter valued at $1,881,000. Comerica Bank increased its position in Cable One by 6.0% in the fourth quarter. Comerica Bank now owns 3,506 shares of the company’s stock valued at $2,030,000 after buying an additional 197 shares during the period. FMR LLC increased its position in Cable One by 0.5% in the fourth quarter. FMR LLC now owns 4,098 shares of the company’s stock valued at $2,548,000 after buying an additional 20 shares during the period. Elkfork Partners LLC purchased a new position in Cable One during the fourth quarter valued at $331,000. Finally, Renaissance Technologies LLC increased its position in Cable One by 323.7% in the fourth quarter. Renaissance Technologies LLC now owns 25,000 shares of the company’s stock valued at $15,543,000 after buying an additional 19,100 shares during the period. 73.76% of the stock is currently owned by institutional investors and hedge funds.
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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