Cable One (NYSE:CABO) Reaches New 1-Year Low After Earnings Miss

Cable One, Inc. (NYSE:CABO)’s stock price reached a new 52-week low during mid-day trading on Friday following a dissappointing earnings announcement. The stock traded as low as $369.13 and last traded at $400.78, with a volume of 28457 shares traded. The stock had previously closed at $395.98.

The company reported $8.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.78 by ($2.67). Cable One had a return on equity of 13.65% and a net margin of 15.94%. The company had revenue of $404.30 million for the quarter, compared to the consensus estimate of $408.79 million. During the same period in the prior year, the company earned $9.62 earnings per share. The firm’s revenue was down 4.2% compared to the same quarter last year.

Cable One Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Tuesday, February 20th were issued a dividend of $2.95 per share. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date of this dividend was Friday, February 16th. Cable One’s dividend payout ratio is currently 26.12%.

Wall Street Analysts Forecast Growth

CABO has been the subject of a number of analyst reports. TD Cowen lowered their price target on Cable One from $650.00 to $456.00 and set a “hold” rating for the company in a research report on Friday. KeyCorp dropped their price target on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Wells Fargo & Company cut their price target on shares of Cable One from $400.00 to $350.00 and set an “underweight” rating on the stock in a report on Friday. Finally, Moffett Nathanson upgraded shares of Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price objective for the company in a research note on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $590.83.

Insider Transactions at Cable One

In other news, insider Christopher D. Boone sold 204 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total value of $93,840.00. Following the completion of the sale, the insider now owns 1,854 shares of the company’s stock, valued at approximately $852,840. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.70% of the company’s stock.

Hedge Funds Weigh In On Cable One

A number of hedge funds have recently modified their holdings of CABO. Vanguard Group Inc. boosted its holdings in Cable One by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 441,665 shares of the company’s stock worth $245,826,000 after purchasing an additional 2,681 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Cable One by 11.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 268,504 shares of the company’s stock worth $149,447,000 after acquiring an additional 27,635 shares during the period. Burgundy Asset Management Ltd. grew its holdings in shares of Cable One by 4.3% in the fourth quarter. Burgundy Asset Management Ltd. now owns 161,705 shares of the company’s stock worth $90,003,000 after acquiring an additional 6,608 shares during the period. River Road Asset Management LLC grew its holdings in shares of Cable One by 20.4% in the third quarter. River Road Asset Management LLC now owns 111,388 shares of the company’s stock worth $68,575,000 after acquiring an additional 18,896 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Cable One by 16.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 110,375 shares of the company’s stock worth $61,435,000 after acquiring an additional 15,907 shares during the period. Hedge funds and other institutional investors own 89.92% of the company’s stock.

Cable One Stock Down 4.5 %

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.94. The company has a market cap of $2.12 billion, a P/E ratio of 8.37 and a beta of 0.80. The company has a fifty day moving average of $419.75 and a 200 day moving average of $500.69.

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.