Cable One (NYSE:CABO) Price Target Lowered to $350.00 at Wells Fargo & Company

Cable One (NYSE:CABO) had its target price reduced by Wells Fargo & Company from $400.00 to $350.00 in a research note issued to investors on Friday, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the stock.

Several other analysts also recently issued reports on the company. KeyCorp lowered their price target on Cable One from $900.00 to $881.00 and set an overweight rating for the company in a report on Thursday, April 4th. TD Cowen lowered their target price on Cable One from $650.00 to $456.00 and set a hold rating for the company in a research note on Friday. Finally, Moffett Nathanson raised Cable One from a neutral rating to a buy rating and set a $615.00 price target on the stock in a research report on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $590.83.

Cable One Trading Down 4.4 %

Shares of Cable One stock traded down $17.53 during trading hours on Friday, reaching $378.45. The stock had a trading volume of 162,639 shares, compared to its average volume of 175,238. The firm has a market capitalization of $2.13 billion, a price-to-earnings ratio of 8.66 and a beta of 0.80. Cable One has a 1 year low of $369.13 and a 1 year high of $749.00. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 1.94. The firm has a 50 day simple moving average of $419.75 and a two-hundred day simple moving average of $500.69.

Cable One (NYSE:CABO) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $8.11 EPS for the quarter, missing the consensus estimate of $10.78 by ($2.67). Cable One had a net margin of 15.50% and a return on equity of 12.96%. The business had revenue of $404.30 million during the quarter, compared to analysts’ expectations of $408.79 million. During the same quarter in the previous year, the business posted $9.62 EPS. The company’s quarterly revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts anticipate that Cable One will post 43.36 earnings per share for the current year.

Cable One Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 8th. Investors of record on Tuesday, February 20th were issued a $2.95 dividend. This represents a $11.80 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date was Friday, February 16th. Cable One’s dividend payout ratio is currently 27.02%.

Insiders Place Their Bets

In other news, insider Christopher D. Boone sold 204 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $460.00, for a total transaction of $93,840.00. Following the completion of the transaction, the insider now directly owns 1,854 shares in the company, valued at approximately $852,840. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cable One

Hedge funds and other institutional investors have recently modified their holdings of the stock. DAVENPORT & Co LLC lifted its holdings in Cable One by 48.3% during the 1st quarter. DAVENPORT & Co LLC now owns 44,166 shares of the company’s stock worth $18,769,000 after buying an additional 14,377 shares during the last quarter. Markel Group Inc. raised its position in shares of Cable One by 8.8% during the 1st quarter. Markel Group Inc. now owns 48,100 shares of the company’s stock valued at $20,353,000 after acquiring an additional 3,900 shares in the last quarter. FORA Capital LLC bought a new position in Cable One during the first quarter worth $916,000. Nordea Investment Management AB acquired a new position in Cable One in the first quarter worth $8,695,000. Finally, Palisade Asset Management LLC bought a new stake in Cable One during the first quarter valued at $181,000. 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.