Cable One (NYSE:CABO) Posts Quarterly Earnings Results, Misses Expectations By $2.67 EPS

Cable One (NYSE:CABO) released its earnings results on Thursday. The company reported $8.11 earnings per share for the quarter, missing analysts’ consensus estimates of $10.78 by ($2.67), Briefing.com reports. The firm had revenue of $404.30 million for the quarter, compared to analyst estimates of $408.79 million. Cable One had a return on equity of 12.96% and a net margin of 15.50%. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the business earned $9.62 earnings per share.

Cable One Price Performance

CABO stock traded down $17.53 during trading on Friday, hitting $378.45. 162,639 shares of the stock traded hands, compared to its average volume of 175,238. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 8.66 and a beta of 0.80. Cable One has a one year low of $369.13 and a one year high of $749.00. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.94. The company has a 50 day simple moving average of $419.75 and a 200 day simple moving average of $500.69.

Cable One Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were given 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 was Friday, February 16th. Cable One’s dividend payout ratio (DPR) is currently 27.02%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

CABO has been the topic of several recent research reports. Moffett Nathanson raised Cable One from a “neutral” rating to a “buy” rating and set a $615.00 price objective on the stock in a report on Tuesday, March 5th. Wells Fargo & Company lowered 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. KeyCorp reduced their price objective on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Finally, TD Cowen lowered their target price 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. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cable One presently has an average rating of “Hold” and an average price target of $590.83.

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.