Cable One, Inc. (NYSE:CABO) Receives Consensus Recommendation of “Buy” from Analysts

Cable One, Inc. (NYSE:CABO) has earned a consensus recommendation of “Buy” from the seven ratings firms that are presently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $2,301.17.

A number of equities analysts recently issued reports on CABO shares. JPMorgan Chase & Co. raised Cable One from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $1,800.00 to $2,100.00 in a report on Tuesday, August 3rd. Wells Fargo & Company lifted their price objective on Cable One from $2,210.00 to $2,400.00 and gave the company an “overweight” rating in a report on Tuesday, August 10th. Raymond James lifted their price objective on Cable One from $2,025.00 to $2,236.00 and gave the company an “outperform” rating in a report on Wednesday, August 11th. Finally, Truist Securities lifted their price target on shares of Cable One from $2,100.00 to $2,300.00 and gave the company a “buy” rating in a research report on Tuesday, August 10th.

In other news, SVP James A. Obermeyer sold 34 shares of the business’s stock in a transaction on Thursday, August 19th. The shares were sold at an average price of $2,025.00, for a total transaction of $68,850.00. Following the completion of the sale, the senior vice president now directly owns 748 shares of the company’s stock, valued at approximately $1,514,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Christopher D. Boone sold 63 shares of the company’s stock in a transaction on Monday, August 16th. The stock was sold at an average price of $2,055.00, for a total transaction of $129,465.00. Following the sale, the insider now directly owns 841 shares of the company’s stock, valued at $1,728,255. The disclosure for this sale can be found here. Insiders have sold a total of 6,821 shares of company stock valued at $13,877,532 over the last three months. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. Pflug Koory LLC acquired a new stake in shares of Cable One in the 2nd quarter valued at about $29,000. Penserra Capital Management LLC raised its stake in shares of Cable One by 61.5% in the 1st quarter. Penserra Capital Management LLC now owns 21 shares of the company’s stock valued at $38,000 after purchasing an additional 8 shares in the last quarter. RE Advisers Corp acquired a new stake in shares of Cable One in the 2nd quarter valued at about $38,000. Rockefeller Capital Management L.P. grew its position in shares of Cable One by 357.1% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 32 shares of the company’s stock valued at $61,000 after buying an additional 25 shares during the last quarter. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Cable One during the 2nd quarter valued at about $63,000. Hedge funds and other institutional investors own 86.56% of the company’s stock.

Shares of NYSE CABO traded down $46.17 during midday trading on Friday, reaching $1,859.53. 42,173 shares of the company were exchanged, compared to its average volume of 36,544. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 2.27. Cable One has a 1 year low of $1,674.35 and a 1 year high of $2,326.80. The stock has a fifty day simple moving average of $1,982.34 and a 200 day simple moving average of $1,874.03. The stock has a market cap of $11.23 billion, a P/E ratio of 38.24 and a beta of 0.53.

Cable One (NYSE:CABO) last released its quarterly earnings results on Sunday, August 8th. The company reported $16.68 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $11.09 by $5.59. Cable One had a return on equity of 19.50% and a net margin of 24.48%. The firm had revenue of $401.75 million for the quarter, compared to analyst estimates of $389.18 million. During the same quarter last year, the company posted $10.63 earnings per share. The business’s revenue was up 22.4% on a year-over-year basis. As a group, analysts forecast that Cable One will post 52.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 17th. Shareholders of record on Tuesday, August 31st were paid a $2.75 dividend. This is a boost from Cable One’s previous quarterly dividend of $2.50. This represents a $11.00 annualized dividend and a yield of 0.59%. The ex-dividend date was Monday, August 30th. Cable One’s payout ratio is presently 24.72%.

Cable One Company Profile

Cable ONE, Inc is a cable and broadband communications provider. It provides consumers with an array of communications and entertainment services, including Internet and wireless fiber solutions, cable television and phone service under the brand name Sparklight. The company was founded in 1986 and is headquartered in Phoenix, AZ.

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Analyst Recommendations for Cable One (NYSE:CABO)

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