Brokerages expect that Cable One Inc (NYSE:CABO) will report sales of $255.53 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Cable One’s earnings, with the highest sales estimate coming in at $256.70 million and the lowest estimate coming in at $254.55 million. Cable One reported sales of $206.73 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.6%. The business is scheduled to issue its next quarterly earnings report before the market opens on Thursday, March 1st.
On average, analysts expect that Cable One will report full year sales of $255.53 million for the current fiscal year, with estimates ranging from $956.87 million to $1.02 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $1.03 billion per share, with estimates ranging from $1.02 billion to $1.05 billion. Zacks’ sales averages are a mean average based on a survey of analysts that cover Cable One.
A number of equities research analysts have issued reports on CABO shares. SunTrust Banks reaffirmed a “buy” rating and set a $815.00 target price on shares of Cable One in a research report on Friday, November 10th. JPMorgan Chase & Co. cut Cable One from a “neutral” rating to an “underweight” rating in a research report on Monday, November 13th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $700.00 target price (down previously from $761.00) on shares of Cable One in a research report on Monday, November 13th. Finally, Zacks Investment Research raised Cable One from a “hold” rating to a “strong-buy” rating and set a $787.00 target price for the company in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. Cable One currently has a consensus rating of “Hold” and an average target price of $789.50.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 9th. Stockholders of record on Tuesday, February 20th will be given a $1.75 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $7.00 annualized dividend and a dividend yield of 1.00%. Cable One’s dividend payout ratio is 34.18%.
In other news, Chairman Thomas O. Might sold 2,793 shares of the stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $676.44, for a total value of $1,889,296.92. Following the completion of the sale, the chairman now directly owns 37,702 shares of the company’s stock, valued at $25,503,140.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Thomas O. Might sold 6,288 shares of the stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $681.20, for a total value of $4,283,385.60. Following the completion of the sale, the insider now directly owns 37,702 shares of the company’s stock, valued at $25,682,602.40. The disclosure for this sale can be found here. Insiders sold 11,904 shares of company stock valued at $8,223,705 over the last three months. 1.30% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB bought a new stake in shares of Cable One in the fourth quarter valued at approximately $347,000. MetLife Investment Advisors LLC bought a new stake in shares of Cable One in the fourth quarter valued at approximately $2,088,000. Westwood Holdings Group Inc. boosted its position in shares of Cable One by 0.6% in the fourth quarter. Westwood Holdings Group Inc. now owns 80,395 shares of the company’s stock valued at $56,545,000 after acquiring an additional 449 shares during the period. Macquarie Group Ltd. boosted its position in shares of Cable One by 21.0% in the fourth quarter. Macquarie Group Ltd. now owns 92,419 shares of the company’s stock valued at $65,003,000 after acquiring an additional 16,052 shares during the period. Finally, Millennium Management LLC acquired a new position in shares of Cable One in the fourth quarter valued at $375,000. 71.91% of the stock is owned by institutional investors.
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About Cable One
Cable One, Inc is a provider of data, video and voice services. The Company offers products, including Residential Video Services, Residential Data Services, Residential Voice Services, Business Services and Advertising. As of May 1, 2017, the Company provided data, video and voice services in 21 Western, Midwestern and Southern states.
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