Cable One (NYSE:CABO) Hits New 1-Year Low After Earnings Miss

Cable One, Inc. (NYSE:CABO)’s stock price reached a new 52-week low on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $369.13 and last traded at $400.78, with a volume of 28457 shares traded. The stock had previously closed at $395.98.

The company reported $8.11 earnings per share for the quarter, missing analysts’ consensus estimates of $10.78 by ($2.67). Cable One had a net margin of 15.50% and a return on equity of 12.96%. The firm had revenue of $404.30 million during the quarter, compared to analyst estimates of $408.79 million. During the same period in the previous year, the firm posted $9.62 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year.

Cable One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Shareholders of record on Tuesday, February 20th were paid a dividend of $2.95 per share. The ex-dividend date was Friday, February 16th. This represents a $11.80 dividend on an annualized basis and a yield of 3.12%. Cable One’s dividend payout ratio (DPR) is presently 27.02%.

Wall Street Analyst Weigh In

CABO has been the subject of a number of research reports. Moffett Nathanson upgraded shares of Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price objective for the company in a report on Tuesday, March 5th. TD Cowen dropped their price target on shares of Cable One from $650.00 to $456.00 and set a “hold” rating for the company in a research note on Friday. KeyCorp reduced their price objective on Cable One from $900.00 to $881.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Wells Fargo & Company decreased their target price on Cable One from $400.00 to $350.00 and set an “underweight” rating for the company in a report on Friday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $590.83.

Insider Activity

In other Cable One news, insider Christopher D. Boone sold 204 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total value of $93,840.00. Following the sale, the insider now directly owns 1,854 shares in the company, valued at $852,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Cable One

Several hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its stake in Cable One by 5.5% in the third quarter. Raymond James & Associates now owns 43,798 shares of the company’s stock valued at $26,964,000 after acquiring an additional 2,288 shares in the last quarter. Brown Advisory Inc. boosted its position in shares of Cable One by 2.9% in the 3rd quarter. Brown Advisory Inc. now owns 85,534 shares of the company’s stock valued at $52,658,000 after purchasing an additional 2,374 shares during the period. Invesco LLC grew its stake in Cable One by 186.7% during the 3rd quarter. Invesco LLC now owns 952 shares of the company’s stock worth $586,000 after buying an additional 620 shares during the last quarter. Park Avenue Securities LLC acquired a new position in Cable One during the third quarter worth approximately $419,000. Finally, Inspire Investing LLC lifted its stake in Cable One by 5.0% in the third quarter. Inspire Investing LLC now owns 502 shares of the company’s stock valued at $309,000 after buying an additional 24 shares during the last quarter. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

Cable One Price Performance

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.94. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 8.67 and a beta of 0.80. The company has a fifty day moving average price of $419.75 and a two-hundred day moving average price of $499.67.

About Cable One

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.