Cable One, Inc. (NYSE:CABO) declared a quarterly dividend on Thursday, August 3rd, Wall Street Journal reports. Shareholders of record on Tuesday, August 15th will be paid a dividend of 1.75 per share on Friday, September 1st. This represents a $7.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, August 11th. This is an increase from Cable One’s previous quarterly dividend of $1.50.
Cable One has a payout ratio of 33.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cable One to earn $22.33 per share next year, which means the company should continue to be able to cover its $7.00 annual dividend with an expected future payout ratio of 31.3%.
Shares of Cable One (NYSE:CABO) traded down 0.8274% on Thursday, hitting $740.9975. The stock had a trading volume of 6,095 shares. The firm’s 50-day moving average is $736.14 and its 200-day moving average is $678.91. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 39.7723 and a beta of 0.30. Cable One has a one year low of $524.00 and a one year high of $788.00.
Cable One (NYSE:CABO) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $4.97 EPS for the quarter, missing the consensus estimate of $5.10 by $0.13. The business had revenue of $241 million during the quarter, compared to analyst estimates of $247.02 million. Cable One had a net margin of 12.44% and a return on equity of 22.83%. The firm’s quarterly revenue was up 17.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.62 earnings per share. On average, analysts expect that Cable One will post $20.21 EPS for the current fiscal year.
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In related news, SVP Eric Michael Lardy sold 322 shares of Cable One stock in a transaction on Friday, June 16th. The stock was sold at an average price of $725.00, for a total transaction of $233,450.00. Following the completion of the transaction, the senior vice president now directly owns 2,542 shares of the company’s stock, valued at $1,842,950. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Donald Graham sold 4,100 shares of Cable One stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $716.05, for a total value of $2,935,805.00. Following the transaction, the insider now directly owns 246,985 shares of the company’s stock, valued at $176,853,609.25. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,022 shares of company stock valued at $6,483,807. 1.30% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on the company. Raymond James Financial, Inc. lifted their price objective on Cable One from $785.00 to $815.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Investment Research raised Cable One from a “strong sell” rating to a “hold” rating in a report on Monday, July 10th. TheStreet raised Cable One from a “c” rating to a “b-” rating in a report on Monday, June 12th. Finally, SunTrust Banks, Inc. assumed coverage on Cable One in a report on Tuesday, April 18th. They set a “buy” rating and a $715.00 price objective 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’s stock. Cable One currently has an average rating of “Hold” and an average price target of $663.25.
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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