Cable One, Inc. Declares Quarterly Dividend of $2.95 (NYSE:CABO)

Cable One, Inc. (NYSE:CABO) announced a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Investors of record on Tuesday, August 27th will be paid a dividend of 2.95 per share on Friday, September 13th. This represents a $11.80 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend is Tuesday, August 27th.

Cable One has raised its dividend payment by an average of 6.9% annually over the last three years. Cable One has a payout ratio of 30.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Cable One to earn $38.58 per share next year, which means the company should continue to be able to cover its $11.80 annual dividend with an expected future payout ratio of 30.6%.

Cable One Price Performance

Shares of NYSE:CABO opened at $350.28 on Friday. The stock has a market capitalization of $1.97 billion, a P/E ratio of 8.02 and a beta of 0.83. The business has a 50-day moving average of $363.79 and a two-hundred day moving average of $397.24. Cable One has a fifty-two week low of $318.68 and a fifty-two week high of $671.62. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.86 and a quick ratio of 1.86.

Cable One (NYSE:CABO) last issued its quarterly earnings data on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing analysts’ consensus estimates of $10.36 by ($2.20). The company had revenue of $394.46 million during the quarter, compared to the consensus estimate of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 11.84%. The firm’s revenue was down 7.0% on a year-over-year basis. During the same period in the previous year, the business posted $10.43 earnings per share. On average, equities research analysts predict that Cable One will post 32.21 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CABO. JPMorgan Chase & Co. boosted their price objective on shares of Cable One from $470.00 to $480.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 6th. Wells Fargo & Company cut their target price on shares of Cable One from $400.00 to $350.00 and set an “underweight” rating for the company in a research report on Friday, May 3rd. Finally, TD Cowen decreased their price target on shares of Cable One from $650.00 to $456.00 and set a “hold” rating for the company in a report on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $533.33.

About Cable One

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.