Cable One (NYSE:CABO) Reaches New 52-Week Low After Earnings Miss

Shares of Cable One, Inc. (NYSE:CABO) reached a new 52-week low during trading on Friday after the company announced weaker than expected quarterly earnings. The company traded as low as $369.13 and last traded at $400.78, with a volume of 28457 shares traded. The stock had previously closed at $395.98.

The company reported $8.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $10.78 by ($2.67). The company had revenue of $404.30 million during the quarter, compared to the consensus estimate of $408.79 million. Cable One had a net margin of 15.94% and a return on equity of 13.65%. The company’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter last year, the firm posted $9.62 earnings per share.

Cable One Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Stockholders of record on Tuesday, February 20th were issued a dividend of $2.95 per share. The ex-dividend date was Friday, February 16th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.09%. Cable One’s dividend payout ratio (DPR) is currently 26.12%.

Analysts Set New Price Targets

Several equities analysts have commented on CABO shares. Moffett Nathanson upgraded Cable One from a “neutral” rating to a “buy” rating and set a $615.00 target price for the company in a research report on Tuesday, March 5th. KeyCorp dropped their price target on shares of Cable One from $900.00 to $881.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Wells Fargo & Company lowered their target price on Cable One from $460.00 to $400.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Cable One has a consensus rating of “Hold” and an average target price of $627.80.

Insiders Place Their Bets

In other Cable One news, insider Christopher D. Boone sold 204 shares of the firm’s stock in a transaction 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 sale, the insider now directly 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 available at the SEC website. Company insiders own 0.70% of the company’s stock.

Institutional Trading of Cable One

Institutional investors have recently made changes to their positions in the company. Mission Wealth Management LP grew its stake in shares of Cable One by 6.1% during the 3rd quarter. Mission Wealth Management LP now owns 718 shares of the company’s stock worth $442,000 after acquiring an additional 41 shares during the period. Raymond James & Associates raised its position in shares of Cable One by 5.5% during the 3rd quarter. Raymond James & Associates now owns 43,798 shares of the company’s stock valued at $26,964,000 after buying an additional 2,288 shares in the last quarter. Brown Advisory Inc. increased its position in shares of Cable One by 2.9% during the 3rd quarter. Brown Advisory Inc. now owns 85,534 shares of the company’s stock valued at $52,658,000 after purchasing an additional 2,374 shares during the last quarter. Rothschild & Co Wealth Management UK Ltd lifted its holdings in shares of Cable One by 1.7% in the 3rd quarter. Rothschild & Co Wealth Management UK Ltd now owns 279,010 shares of the company’s stock worth $171,770,000 after acquiring an additional 4,689 shares during the last quarter. Finally, Invesco LLC increased its holdings in shares of Cable One by 186.7% in the third quarter. Invesco LLC now owns 952 shares of the company’s stock worth $586,000 after buying an additional 620 shares during the period. Institutional investors own 89.92% of the company’s stock.

Cable One Price Performance

The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 1.94. The stock has a market cap of $2.15 billion, a P/E ratio of 8.76 and a beta of 0.80. The firm’s fifty day moving average price is $421.02 and its 200-day moving average price is $502.68.

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.