JPMorgan Chase & Co. Raises Cable One (NYSE:CABO) Price Target to $480.00

Cable One (NYSE:CABO) had its target price hoisted by JPMorgan Chase & Co. from $470.00 to $480.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a neutral rating on the stock.

CABO has been the subject of several other reports. TD Cowen lowered their price objective on Cable One from $650.00 to $456.00 and set a hold rating for the company in a research note on Friday, May 3rd. Wells Fargo & Company dropped their price objective on Cable One from $400.00 to $350.00 and set an underweight rating on the stock in a research note on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Hold and an average target price of $533.33.

Cable One Stock Performance

NYSE CABO opened at $403.01 on Tuesday. The company has a market cap of $2.26 billion, a P/E ratio of 9.23 and a beta of 0.83. The company has a fifty day simple moving average of $366.21 and a 200 day simple moving average of $411.94. The company has a current ratio of 1.86, a quick ratio of 1.86 and a debt-to-equity ratio of 1.86. Cable One has a 12-month low of $318.68 and a 12-month high of $688.04.

Cable One (NYSE:CABO) last issued its quarterly earnings data 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). Cable One had a net margin of 15.31% and a return on equity of 11.84%. The business had revenue of $394.46 million for the quarter, compared to analyst estimates of $400.64 million. During the same quarter in the prior year, the business earned $10.43 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. Sell-side analysts predict that Cable One will post 32.21 earnings per share for the current fiscal year.

Cable One Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a $2.95 dividend. The ex-dividend date was Friday, May 24th. This represents a $11.80 annualized dividend and a yield of 2.93%. Cable One’s dividend payout ratio is currently 27.02%.

Insider Buying and Selling at Cable One

In related news, Director Wallace R. Weitz purchased 1,000 shares of the business’s stock in a transaction that occurred 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 acquisition, the director now owns 4,565 shares of the company’s stock, valued at $1,688,958.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.70% of the company’s stock.

Institutional Trading of Cable One

Several hedge funds have recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC grew its position in shares of Cable One by 1.8% during the 4th quarter. SummerHaven Investment Management LLC now owns 1,127 shares of the company’s stock valued at $627,000 after acquiring an additional 20 shares during the period. Raymond James Trust N.A. increased its position in Cable One by 2.1% in the second quarter. Raymond James Trust N.A. now owns 1,581 shares of the company’s stock worth $560,000 after buying an additional 33 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Cable One by 87.5% in the first quarter. Fifth Third Bancorp now owns 75 shares of the company’s stock valued at $32,000 after buying an additional 35 shares during the period. SRS Capital Advisors Inc. lifted its position in shares of Cable One by 24.2% during the 4th quarter. SRS Capital Advisors Inc. now owns 190 shares of the company’s stock valued at $106,000 after buying an additional 37 shares during the last quarter. Finally, Bfsg LLC bought a new position in shares of Cable One during the 4th quarter worth $28,000. Institutional investors own 89.92% of the company’s stock.

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.