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

Cable One, Inc. (NYSE:CABO) declared a quarterly dividend on Thursday, August 15th, Wall Street Journal reports. Shareholders of record on Tuesday, August 27th will be given 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 raised its dividend by an average of 6.9% annually over the last three years. Cable One has a dividend payout ratio of 30.0% indicating that its dividend is sufficiently covered by earnings. Equities 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 traded down $2.92 on Friday, reaching $364.78. 97,852 shares of the stock were exchanged, compared to its average volume of 111,579. The company’s 50-day moving average price is $365.41 and its 200 day moving average price is $405.86. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.86 and a quick ratio of 1.86. The firm has a market capitalization of $2.05 billion, a PE ratio of 8.36 and a beta of 0.83. Cable One has a fifty-two week low of $318.68 and a fifty-two week high of $675.72.

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

Insider Buying and Selling

In other Cable One news, Director Wallace R. Weitz acquired 1,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The shares were bought at an average cost of $369.98 per share, with a total value of $369,980.00. Following the completion of the acquisition, the director now owns 4,565 shares in the company, valued at $1,688,958.70. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on CABO shares. JPMorgan Chase & Co. upped their price target on shares of Cable One from $470.00 to $480.00 and gave the company a “neutral” rating in a report on Tuesday, August 6th. TD Cowen lowered their target price on Cable One from $650.00 to $456.00 and set a “hold” rating on the stock in a research note on Friday, May 3rd. Finally, Wells Fargo & Company dropped their target price on Cable One from $400.00 to $350.00 and set an “underweight” rating on the stock in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.