Cable One (NYSE:CABO) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Cable One (NYSE:CABO) from a buy rating to a hold rating in a research report sent to investors on Monday morning, Zacks.com reports.

According to Zacks, “Cable One, Inc. is a cable company. The Company provides internet, cable television and telephone service primarily in the United States. Cable One, Inc. is based in Phoenix, United States. “

Several other equities analysts also recently commented on the stock. SunTrust Banks boosted their target price on shares of Cable One to $1,020.00 and gave the stock a hold rating in a report on Friday, May 10th. They noted that the move was a valuation call. Wolfe Research raised shares of Cable One from an underperform rating to a peer perform rating in a report on Tuesday, July 23rd. B. Riley reissued a buy rating and issued a $1,250.00 target price (up previously from $1,090.00) on shares of Cable One in a report on Tuesday, June 4th. KeyCorp reissued an overweight rating and issued a $1,316.00 target price (up previously from $1,210.00) on shares of Cable One in a report on Thursday, June 27th. Finally, Stephens assumed coverage on shares of Cable One in a report on Wednesday, June 26th. They issued an equal weight rating and a $1,200.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $1,219.00.



Shares of CABO stock traded up $5.10 during mid-day trading on Monday, hitting $1,255.55. The company had a trading volume of 1,242 shares, compared to its average volume of 50,937. Cable One has a 52-week low of $754.43 and a 52-week high of $1,271.15. The company has a 50 day simple moving average of $1,208.02. The company has a debt-to-equity ratio of 1.68, a current ratio of 1.09 and a quick ratio of 1.72. The stock has a market capitalization of $7.19 billion, a P/E ratio of 43.83 and a beta of 0.43.

Cable One (NYSE:CABO) last released its earnings results on Wednesday, August 7th. The company reported $6.35 EPS for the quarter, missing the consensus estimate of $7.76 by ($1.41). Cable One had a return on equity of 21.26% and a net margin of 14.10%. The company had revenue of $285.70 million during the quarter, compared to analysts’ expectations of $283.61 million. During the same period last year, the firm posted $7.65 EPS. Cable One’s quarterly revenue was up 6.4% compared to the same quarter last year. As a group, equities analysts expect that Cable One will post 30.96 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Tuesday, August 20th will be paid a dividend of $2.25 per share. This is an increase from Cable One’s previous quarterly dividend of $2.00. The ex-dividend date is Monday, August 19th. This represents a $9.00 dividend on an annualized basis and a yield of 0.72%. Cable One’s dividend payout ratio is presently 27.81%.

In related news, insider Peter N. Witty sold 205 shares of the company’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $1,136.80, for a total transaction of $233,044.00. Following the sale, the insider now owns 2,093 shares of the company’s stock, valued at $2,379,322.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Charles B. Mcdonald sold 1,703 shares of the company’s stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $1,160.59, for a total transaction of $1,976,484.77. Following the sale, the senior vice president now directly owns 2,128 shares in the company, valued at approximately $2,469,735.52. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,843 shares of company stock worth $3,281,398. 1.10% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in CABO. Advisory Services Network LLC raised its stake in shares of Cable One by 450.0% in the second quarter. Advisory Services Network LLC now owns 22 shares of the company’s stock valued at $26,000 after acquiring an additional 18 shares during the period. Machina Capital S.A.S. purchased a new stake in shares of Cable One in the second quarter valued at $35,000. Quadrant Capital Group LLC raised its stake in shares of Cable One by 683.3% in the first quarter. Quadrant Capital Group LLC now owns 94 shares of the company’s stock valued at $91,000 after acquiring an additional 82 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Cable One by 92.1% in the first quarter. BNP Paribas Arbitrage SA now owns 146 shares of the company’s stock valued at $143,000 after acquiring an additional 70 shares during the period. Finally, Hanseatic Management Services Inc. raised its stake in shares of Cable One by 23.3% in the first quarter. Hanseatic Management Services Inc. now owns 159 shares of the company’s stock valued at $156,000 after acquiring an additional 30 shares during the period. 77.31% of the stock is currently owned by institutional investors.

About Cable One

Cable One, Inc owns and operates cable systems that provide data, video, and voice services. The company offers residential data services, including WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, which comprise weather, shopping, and religious channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive electronic programming guide with parental controls.

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