Analysts expect Cable One Inc (NYSE:CABO) to post sales of $270.70 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Cable One’s earnings. The lowest sales estimate is $270.00 million and the highest is $271.60 million. Cable One reported sales of $257.71 million during the same quarter last year, which would suggest a positive year over year growth rate of 5%. The business is scheduled to issue its next earnings report on Thursday, March 7th.
According to Zacks, analysts expect that Cable One will report full year sales of $1.07 billion for the current year. For the next year, analysts anticipate that the business will report sales of $1.10 billion, with estimates ranging from $1.09 billion to $1.11 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Cable One.
Cable One (NYSE:CABO) last issued its quarterly earnings data on Wednesday, November 7th. The company reported $6.70 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $7.84 by ($1.14). The company had revenue of $268.30 million for the quarter, compared to analysts’ expectations of $267.53 million. Cable One had a net margin of 25.08% and a return on equity of 22.03%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.48 earnings per share.
CABO has been the topic of a number of recent research reports. Wolfe Research initiated coverage on shares of Cable One in a research report on Friday. They issued an “underperform” rating on the stock. Moffett Nathanson raised shares of Cable One from a “sell” rating to a “neutral” rating in a research report on Tuesday. Zacks Investment Research downgraded shares of Cable One from a “buy” rating to a “hold” rating in a research report on Monday, November 12th. SunTrust Banks downgraded shares of Cable One from a “buy” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, Raymond James downgraded shares of Cable One from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Cable One currently has a consensus rating of “Hold” and an average target price of $845.67.
Cable One stock traded down $7.71 during mid-day trading on Wednesday, reaching $870.30. 41,442 shares of the company traded hands, compared to its average volume of 29,355. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.54. The company has a market cap of $5.01 billion, a P/E ratio of 40.27 and a beta of 0.26. Cable One has a 52-week low of $597.40 and a 52-week high of $924.31.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Tuesday, November 20th were given a $2.00 dividend. This represents a $8.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, November 19th. Cable One’s dividend payout ratio is presently 37.02%.
In related news, Director Thomas O. Might sold 4,417 shares of the company’s stock in a transaction dated Wednesday, November 28th. The shares were sold at an average price of $882.47, for a total value of $3,897,869.99. Following the transaction, the director now owns 21,292 shares in the company, valued at approximately $18,789,551.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven Scott Cochran purchased 300 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was purchased at an average price of $873.13 per share, for a total transaction of $261,939.00. Following the purchase, the chief financial officer now owns 1,219 shares in the company, valued at $1,064,345.47. The disclosure for this purchase can be found here. Insiders bought a total of 570 shares of company stock worth $495,116 over the last ninety days. Insiders own 1.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in Cable One by 44.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 13,161 shares of the company’s stock worth $9,653,000 after purchasing an additional 4,071 shares in the last quarter. Trexquant Investment LP bought a new position in Cable One during the 2nd quarter valued at about $576,000. Verition Fund Management LLC bought a new position in Cable One during the 2nd quarter valued at about $282,000. Hutchinson Capital Management CA lifted its stake in Cable One by 1.9% during the 3rd quarter. Hutchinson Capital Management CA now owns 12,102 shares of the company’s stock valued at $10,693,000 after acquiring an additional 227 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in Cable One by 8.0% during the 3rd quarter. William Blair Investment Management LLC now owns 93,757 shares of the company’s stock valued at $82,845,000 after acquiring an additional 6,966 shares during the period. Institutional investors own 78.52% of the company’s stock.
About Cable One
Cable One, Inc owns and operates cable systems that provide data, video, and voice services in the United States. The company offers data services, including home.cableone.net, an Internet portal that provides various email addresses; and WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home.
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