Cable One (NYSE:CABO) Stock Price Up 3.5% – Here’s What Happened

Cable One, Inc. (NYSE:CABO) rose 3.5% during mid-day trading on Tuesday . The stock traded as high as $354.23 and last traded at $353.81. Approximately 3,248 shares traded hands during trading, a decline of 97% from the average daily volume of 104,527 shares. The stock had previously closed at $341.88.

Wall Street Analysts Forecast Growth

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

Cable One Price Performance

The business has a fifty day moving average of $350.13 and a two-hundred day moving average of $367.25. 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 firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 8.03 and a beta of 0.84.

Cable One (NYSE:CABO) last released its quarterly earnings data on Thursday, August 1st. The company reported $8.16 EPS 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 the consensus estimate of $400.64 million. Cable One had a return on equity of 12.04% and a net margin of 15.31%. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same period last year, the firm earned $10.43 earnings per share. As a group, research analysts predict that Cable One, Inc. will post 30.99 EPS for the current fiscal year.

Cable One Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Tuesday, August 27th were paid a $2.95 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $11.80 dividend on an annualized basis and a yield of 3.37%. Cable One’s dividend payout ratio (DPR) is currently 27.02%.

Institutional Investors Weigh In On Cable One

Several hedge funds have recently bought and sold shares of the stock. Jane Street Group LLC increased its stake in shares of Cable One by 880.9% during the first quarter. Jane Street Group LLC now owns 14,870 shares of the company’s stock worth $6,292,000 after purchasing an additional 13,354 shares during the period. Vanguard Group Inc. increased its position in Cable One by 11.0% during the 1st 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 during the period. Nordea Investment Management AB acquired a new stake in shares of Cable One during the first quarter worth $8,695,000. Private Management Group Inc. boosted its position in shares of Cable One by 70.7% in the second quarter. Private Management Group Inc. now owns 113,641 shares of the company’s stock valued at $40,229,000 after acquiring an additional 47,082 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new position in shares of Cable One in the first quarter valued at about $7,068,000. 89.92% of the stock is currently owned by institutional investors and hedge funds.

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.