Cable One (NYSE:CABO) Price Target Cut to $1,725.00

Cable One (NYSE:CABOGet Rating) had its target price decreased by KeyCorp from $1,896.00 to $1,725.00 in a research note published on Friday, Marketbeat reports. KeyCorp currently has an overweight rating on the stock. KeyCorp also issued estimates for Cable One’s Q2 2023 earnings at $14.15 EPS, Q3 2023 earnings at $14.64 EPS and Q4 2023 earnings at $15.13 EPS.

Other analysts have also recently issued reports about the company. Truist Financial increased their price target on Cable One from $1,400.00 to $1,600.00 and gave the stock a buy rating in a research report on Friday, June 10th. Wells Fargo & Company dropped their target price on Cable One from $2,100.00 to $1,800.00 in a research report on Friday, May 6th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $1,785.00.

Cable One Stock Down 4.9 %

Shares of NYSE:CABO opened at $1,371.65 on Friday. The company’s fifty day moving average is $1,319.41 and its two-hundred day moving average is $1,374.40. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.87 and a current ratio of 1.87. Cable One has a 1-year low of $1,049.81 and a 1-year high of $2,136.14. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 24.14 and a beta of 0.69.

Cable One (NYSE:CABOGet Rating) last released its quarterly earnings data on Thursday, May 5th. The company reported $26.85 earnings per share for the quarter, topping the consensus estimate of $12.03 by $14.82. Cable One had a net margin of 20.82% and a return on equity of 20.02%. The firm had revenue of $426.70 million for the quarter, compared to analyst estimates of $427.97 million. During the same quarter in the prior year, the business earned $11.19 earnings per share. Cable One’s quarterly revenue was up 25.0% on a year-over-year basis. Equities analysts anticipate that Cable One will post 67.32 EPS for the current year.

Cable One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 17th. Investors of record on Tuesday, May 31st were given a $2.75 dividend. This represents a $11.00 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, May 27th. Cable One’s dividend payout ratio is currently 19.36%.

Insiders Place Their Bets

In related news, Director Thomas Sinnickson Gayner bought 50 shares of the firm’s stock in a transaction that occurred on Wednesday, May 25th. The stock was purchased at an average price of $1,257.97 per share, for a total transaction of $62,898.50. Following the transaction, the director now directly owns 7,469 shares of the company’s stock, valued at approximately $9,395,777.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Thomas Sinnickson Gayner bought 50 shares of the company’s stock in a transaction that occurred on Wednesday, May 25th. The shares were purchased at an average price of $1,257.97 per share, with a total value of $62,898.50. Following the completion of the acquisition, the director now directly owns 7,469 shares in the company, valued at $9,395,777.93. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Peter N. Witty sold 376 shares of the stock in a transaction on Tuesday, May 31st. The shares were sold at an average price of $1,310.00, for a total value of $492,560.00. Following the transaction, the insider now directly owns 1,529 shares of the company’s stock, valued at $2,002,990. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cable One

Several hedge funds have recently made changes to their positions in CABO. Sageworth Trust Co of South Dakota acquired a new stake in Cable One during the fourth quarter valued at approximately $28,000. Allspring Global Investments Holdings LLC bought a new position in shares of Cable One in the fourth quarter valued at $29,000. National Bank of Canada FI acquired a new stake in shares of Cable One during the 4th quarter valued at $33,000. Confluence Wealth Services Inc. bought a new stake in shares of Cable One during the 4th quarter worth $40,000. Finally, Riverview Trust Co acquired a new position in shares of Cable One in the 2nd quarter worth $32,000. Institutional investors and hedge funds own 89.51% of the company’s stock.

About Cable One

(Get Rating)

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 residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive and electronic programming guide with parental controls.

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