Cable One (NYSE:CABO) Sees Strong Trading Volume - Still a Buy?

Cable One, Inc. (NYSE:CABO - Get Free Report) saw unusually-high trading volume on Friday . Approximately 60,764 shares traded hands during mid-day trading, a decline of 41% from the previous session's volume of 102,811 shares.The stock last traded at $346.17 and had previously closed at $341.56.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. boosted their price objective on Cable One from $470.00 to $480.00 and gave the company a "neutral" rating in a report on Tuesday, August 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $533.33.

Cable One Stock Performance

The business's 50-day simple moving average is $344.22 and its two-hundred day simple moving average is $363.13. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.87. The firm has a market cap of $2.03 billion, a price-to-earnings ratio of 8.51 and a beta of 0.84.

Cable One (NYSE:CABO - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $8.16 earnings per share for the quarter, missing the consensus estimate of $10.36 by ($2.20). The business had revenue of $394.46 million during the quarter, compared to analysts' expectations 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 for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $10.43 EPS. As a group, sell-side analysts expect that Cable One, Inc. will post 30.99 earnings per share for the current fiscal year.

Cable One Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Tuesday, August 27th were given a dividend of $2.95 per share. The ex-dividend date of this dividend was Tuesday, August 27th. This represents a $11.80 dividend on an annualized basis and a dividend yield of 3.27%. Cable One's dividend payout ratio (DPR) is 27.78%.

Institutional Investors Weigh In On Cable One

Several institutional investors and hedge funds have recently added to or reduced their stakes in CABO. Vanguard Group Inc. grew its position in shares of Cable One by 11.0% in the first quarter. Vanguard Group Inc. now owns 490,178 shares of the company's stock valued at $207,409,000 after purchasing an additional 48,513 shares during the period. Burgundy Asset Management Ltd. lifted its stake in Cable One by 42.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 290,662 shares of the company's stock valued at $102,894,000 after buying an additional 86,581 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in Cable One by 28.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 205,611 shares of the company's stock worth $72,786,000 after buying an additional 45,115 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cable One by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 134,998 shares of the company's stock worth $47,788,000 after buying an additional 8,339 shares in the last quarter. Finally, Private Management Group Inc. raised its holdings in shares of Cable One by 2.1% during the third quarter. Private Management Group Inc. now owns 115,999 shares of the company's stock valued at $40,575,000 after acquiring an additional 2,358 shares during the last quarter. Hedge funds and other institutional investors own 89.92% of the company's stock.

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.