Cable One (NYSE:CABO) Trading Up 4.4% – Here’s What Happened

Cable One, Inc. (NYSE:CABO)’s stock price traded up 4.4% during mid-day trading on Tuesday . The stock traded as high as $360.65 and last traded at $353.98. 12,117 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 104,237 shares. The stock had previously closed at $339.15.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. boosted their price target on Cable One from $470.00 to $480.00 and gave the company a “neutral” rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $533.33.

Cable One Trading Down 0.4 %

The company has a market capitalization of $1.95 billion, a P/E ratio of 7.94 and a beta of 0.84. The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a fifty day moving average of $345.71 and a 200 day moving average of $364.98.

Cable One (NYSE:CABO) last posted its quarterly earnings data on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The company had revenue of $394.46 million for the quarter, compared to analysts’ expectations of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 12.04%. The firm’s quarterly revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the firm earned $10.43 earnings per share. As a group, equities research analysts anticipate that Cable One, Inc. will post 30.99 EPS for the current fiscal year.

Cable One Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Tuesday, August 27th were given a $2.95 dividend. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.40%. Cable One’s payout ratio is currently 27.02%.

Institutional Trading of Cable One

Several institutional investors and hedge funds have recently modified their holdings of the company. Canada Pension Plan Investment Board grew its position in shares of Cable One by 1,906.2% during the first quarter. Canada Pension Plan Investment Board now owns 160,496 shares of the company’s stock worth $67,911,000 after purchasing an additional 152,496 shares in the last quarter. Burgundy Asset Management Ltd. grew its holdings in Cable One by 42.4% during the 2nd quarter. Burgundy Asset Management Ltd. now owns 290,662 shares of the company’s stock valued at $102,894,000 after buying an additional 86,581 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Cable One by 4,228.5% during the second quarter. AQR Capital Management LLC now owns 61,465 shares of the company’s stock valued at $21,436,000 after buying an additional 60,045 shares during the last quarter. Private Management Group Inc. raised its position in shares of Cable One by 648.3% during the first quarter. Private Management Group Inc. now owns 66,559 shares of the company’s stock valued at $28,163,000 after buying an additional 57,664 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Cable One by 11.0% in the first quarter. Vanguard Group Inc. now owns 490,178 shares of the company’s stock worth $207,409,000 after buying an additional 48,513 shares in the last quarter. 89.92% of the stock is currently owned by institutional investors.

Cable One Company Profile

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.