Cable One (NYSE:CABO) Trading 3.5% Higher - Here's Why

Cable One, Inc. (NYSE:CABO - Get Free Report) shares were up 3.5% during mid-day trading on Tuesday . The stock traded as high as $354.23 and last traded at $353.81. Approximately 3,248 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 104,527 shares. The stock had previously closed at $341.88.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. raised their target price on shares of Cable One from $470.00 to $480.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 6th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $533.33.

Cable One Price Performance

The company has a debt-to-equity ratio of 1.87, a quick ratio of 1.81 and a current ratio of 1.81. The stock's fifty day moving average price is $350.98 and its 200-day moving average price is $367.72. The firm has a market cap of $2.00 billion, a PE ratio of 8.15 and a beta of 0.84.

Cable One (NYSE:CABO - Get Free Report) 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 company had revenue of $394.46 million for the quarter, compared to analyst estimates of $400.64 million. Cable One had a net margin of 15.31% and a return on equity of 12.04%. Cable One's revenue was down 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $10.43 earnings per share. As a group, equities analysts forecast that Cable One, Inc. will post 30.99 EPS for the current fiscal year.

Cable One Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date of this dividend was Tuesday, August 27th. Cable One's dividend payout ratio is currently 27.02%.

Institutional Investors Weigh In On Cable One

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Versant Capital Management Inc lifted its stake in shares of Cable One by 452.4% during the second quarter. Versant Capital Management Inc now owns 116 shares of the company's stock valued at $41,000 after buying an additional 95 shares during the period. Abich Financial Wealth Management LLC purchased a new position in shares of Cable One during the 2nd quarter worth $45,000. GAMMA Investing LLC lifted its stake in shares of Cable One by 964.3% during the 2nd quarter. GAMMA Investing LLC now owns 149 shares of the company's stock worth $53,000 after purchasing an additional 135 shares during the period. Innealta Capital LLC acquired a new stake in shares of Cable One during the second quarter worth $65,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Cable One in the second quarter valued at $72,000. 89.92% of the stock is currently owned by hedge funds and other institutional investors.

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.