Cable One (NYSE:CABO) Hits New 12-Month Low – Here’s Why

Cable One, Inc. (NYSE:CABO)’s stock price reached a new 52-week low on Wednesday . The stock traded as low as $312.30 and last traded at $314.16, with a volume of 300 shares trading hands. The stock had previously closed at $316.06.

Analyst Upgrades and Downgrades

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

Cable One Trading Up 4.4 %

The firm has a market capitalization of $1.88 billion, a PE ratio of 7.65 and a beta of 0.84. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.79. The business’s fifty day moving average price is $353.67 and its 200 day moving average price is $369.84.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, August 1st. The company reported $8.16 EPS for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The firm had revenue of $394.46 million for the quarter, compared to analysts’ expectations of $400.64 million. Cable One had a return on equity of 11.69% and a net margin of 15.31%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm earned $10.43 earnings per share. As a group, analysts expect 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. Stockholders of record on Tuesday, August 27th were issued a dividend of $2.95 per share. 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 3.53%. Cable One’s dividend payout ratio (DPR) is presently 27.02%.

Institutional Investors Weigh In On Cable One

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

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.