Cable One, Inc. Plans 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 dividend yield of 3.23%. The ex-dividend date of this dividend is Tuesday, August 27th.

Cable One has increased its dividend payment by an average of 6.9% per year over the last three years. Cable One has a payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Research 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 Stock Performance

CABO stock traded down $2.92 during midday trading on Friday, reaching $364.78. 97,852 shares of the company’s stock traded hands, compared to its average volume of 111,579. The firm has a market capitalization of $2.05 billion, a PE ratio of 8.36 and a beta of 0.83. The company has a 50-day moving average price of $365.41 and a two-hundred day moving average price of $405.86. Cable One has a 52 week low of $318.68 and a 52 week high of $675.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.86 and a current ratio of 1.86.

Cable One (NYSE:CABO) last announced its quarterly earnings results on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing the consensus estimate of $10.36 by ($2.20). The company had revenue of $394.46 million during the quarter, compared to analysts’ expectations of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 11.84%. Cable One’s revenue for the quarter was down 7.0% compared to the same quarter last year. During the same quarter last year, the firm posted $10.43 earnings per share. As a group, equities analysts anticipate that Cable One will post 32.21 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Activity at Cable One

In related news, Director Wallace R. Weitz purchased 1,000 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was acquired at an average price of $369.98 per share, with a total value of $369,980.00. Following the purchase, the director now directly owns 4,565 shares in the company, valued at $1,688,958.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.70% of the stock is currently owned by insiders.

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.