Cable One (NYSE:CABO) Hits New 12-Month Low After Earnings Miss

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

The company reported $8.11 EPS for the quarter, missing analysts’ consensus estimates of $10.78 by ($2.67). Cable One had a net margin of 15.94% and a return on equity of 13.65%. The business had revenue of $404.30 million during the quarter, compared to analysts’ expectations of $408.79 million. During the same period in the prior year, the business posted $9.62 EPS. The business’s revenue was down 4.2% on a year-over-year basis.

Cable One Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other Cable One news, insider Christopher D. Boone sold 204 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total transaction of $93,840.00. Following the sale, the insider now owns 1,854 shares in the company, valued at $852,840. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Bfsg LLC acquired a new position in Cable One in the fourth quarter valued at approximately $28,000. Fifth Third Bancorp lifted its holdings in shares of Cable One by 87.5% in the 1st quarter. Fifth Third Bancorp now owns 75 shares of the company’s stock worth $32,000 after purchasing an additional 35 shares during the last quarter. Spire Wealth Management acquired a new position in Cable One during the 4th quarter valued at approximately $46,000. Principal Securities Inc. bought a new position in Cable One during the 4th quarter worth $53,000. Finally, SRS Capital Advisors Inc. increased its position in Cable One by 43.0% in the third quarter. SRS Capital Advisors Inc. now owns 153 shares of the company’s stock worth $94,000 after buying an additional 46 shares during the period. 89.92% of the stock is owned by institutional investors and hedge funds.

Cable One Price Performance

The company has a market capitalization of $2.12 billion, a P/E ratio of 8.37 and a beta of 0.80. 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 business has a 50 day simple moving average of $419.75 and a 200-day simple 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.