Wall Street brokerages expect Cable One, Inc. (NYSE:CABO) to post sales of $227.31 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cable One’s earnings, with the lowest sales estimate coming in at $207.38 million and the highest estimate coming in at $256.00 million. Cable One reported sales of $204.56 million during the same quarter last year, which indicates a positive year-over-year growth rate of 11.1%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, August 8th.
On average, analysts expect that Cable One will report full-year sales of $227.31 million for the current financial year, with estimates ranging from $827.50 million to $1.03 billion. For the next fiscal year, analysts forecast that the company will post sales of $932.52 million per share, with estimates ranging from $836.99 million to $1.03 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Cable One.
Cable One (NYSE:CABO) last issued its quarterly earnings data on Thursday, May 4th. The company reported $5.80 EPS for the quarter, topping analysts’ consensus estimates of $5.62 by $0.18. Cable One had a net margin of 12.75% and a return on equity of 23.30%. The business had revenue of $207.43 million during the quarter, compared to analysts’ expectations of $205.97 million. During the same period last year, the company posted $4.65 EPS. The business’s revenue was up 2.3% on a year-over-year basis.
CABO has been the subject of a number of research reports. Zacks Investment Research lowered shares of Cable One from a “hold” rating to a “strong sell” rating in a report on Tuesday, July 4th. SunTrust Banks, Inc. initiated coverage on shares of Cable One in a report on Tuesday, April 18th. They set a “buy” rating and a $715.00 target price for the company. TheStreet raised shares of Cable One from a “c” rating to a “b-” rating in a report on Monday, June 12th. Finally, Raymond James Financial, Inc. initiated coverage on shares of Cable One in a report on Thursday, June 8th. They set an “outperform” rating and a $785.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $655.75.
In related news, major shareholder Donald Graham sold 4,100 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $716.05, for a total value of $2,935,805.00. Following the completion of the sale, the insider now owns 246,985 shares of the company’s stock, valued at $176,853,609.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Eric Michael Lardy sold 322 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $725.00, for a total transaction of $233,450.00. Following the completion of the sale, the senior vice president now directly owns 2,542 shares of the company’s stock, valued at approximately $1,842,950. The disclosure for this sale can be found here. Insiders sold 9,022 shares of company stock valued at $6,483,807 in the last three months. 1.30% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in CABO. Blair William & Co. IL raised its stake in shares of Cable One by 0.3% in the second quarter. Blair William & Co. IL now owns 1,036 shares of the company’s stock worth $736,000 after buying an additional 3 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Cable One by 2.7% in the first quarter. Envestnet Asset Management Inc. now owns 307 shares of the company’s stock worth $192,000 after buying an additional 8 shares in the last quarter. Liberty Mutual Group Asset Management Inc. raised its stake in shares of Cable One by 0.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 2,116 shares of the company’s stock worth $1,322,000 after buying an additional 8 shares in the last quarter. World Asset Management Inc raised its stake in shares of Cable One by 4.3% in the second quarter. World Asset Management Inc now owns 338 shares of the company’s stock worth $240,000 after buying an additional 14 shares in the last quarter. Finally, Capstone Asset Management Co. raised its stake in shares of Cable One by 3.1% in the first quarter. Capstone Asset Management Co. now owns 573 shares of the company’s stock worth $358,000 after buying an additional 17 shares in the last quarter. 74.22% of the stock is owned by hedge funds and other institutional investors.
Cable One (CABO) opened at 761.36 on Friday. The firm has a 50 day moving average of $729.87 and a 200-day moving average of $673.14. Cable One has a 52 week low of $510.31 and a 52 week high of $766.51. The stock has a market capitalization of $4.36 billion, a PE ratio of 41.65 and a beta of 0.30.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued a dividend of $1.75 per share. This is a positive change from Cable One’s previous quarterly dividend of $1.50. The ex-dividend date is Friday, August 11th. This represents a $7.00 dividend on an annualized basis and a dividend yield of 0.92%. Cable One’s dividend payout ratio is presently 32.82%.
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Cable One Company Profile
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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