Cable One (NYSE:CABO) Stock Price Up 4.4% – What’s Next?

Cable One, Inc. (NYSE:CABO) rose 4.4% during mid-day trading on Tuesday . The stock traded as high as $360.65 and last traded at $353.98. Approximately 12,117 shares were traded during trading, a decline of 88% from the average daily 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 shares of Cable One from $470.00 to $480.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $533.33.

Cable One Price Performance

The company’s 50-day simple moving average is $346.97 and its 200 day simple moving average is $365.43. The company has a market capitalization of $1.93 billion, a P/E ratio of 8.26 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 1.87.

Cable One (NYSE:CABO) last issued 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). Cable One had a net margin of 15.31% and a return on equity of 12.04%. The company had revenue of $394.46 million for the quarter, compared to analyst estimates of $400.64 million. During the same period in the prior year, the company posted $10.43 EPS. The business’s revenue was down 7.0% on a year-over-year basis. As a group, sell-side analysts expect that Cable One, Inc. will post 30.99 earnings per share for the current fiscal year.

Cable One Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 annualized dividend and a dividend yield of 3.43%. Cable One’s payout ratio is 27.02%.

Institutional Trading of Cable One

Hedge funds have recently modified their holdings of the company. Versant Capital Management Inc grew its position in Cable One by 452.4% in the second quarter. Versant Capital Management Inc now owns 116 shares of the company’s stock valued at $41,000 after acquiring an additional 95 shares during the period. Abich Financial Wealth Management LLC bought a new position in shares of Cable One in the second quarter valued at approximately $45,000. GAMMA Investing LLC boosted its holdings in shares of Cable One by 964.3% in the 2nd quarter. GAMMA Investing LLC now owns 149 shares of the company’s stock worth $53,000 after acquiring an additional 135 shares in the last quarter. Innealta Capital LLC bought a new stake in Cable One during the 2nd quarter worth approximately $65,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in Cable One during the 2nd quarter valued at $72,000. Institutional investors own 89.92% of the company’s stock.

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.