Brokerages Anticipate Cable One Inc (NYSE:CABO) Will Post Quarterly Sales of $283.67 Million

Wall Street brokerages expect Cable One Inc (NYSE:CABO) to announce sales of $283.67 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Cable One’s earnings, with the highest sales estimate coming in at $287.79 million and the lowest estimate coming in at $280.40 million. Cable One reported sales of $268.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.7%. The firm is expected to issue its next earnings report on Thursday, August 8th.

On average, analysts expect that Cable One will report full year sales of $1.13 billion for the current financial year, with estimates ranging from $1.12 billion to $1.15 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.20 billion, with estimates ranging from $1.15 billion to $1.29 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Cable One.

Cable One (NYSE:CABO) last issued its quarterly earnings results on Thursday, May 9th. The company reported $6.78 earnings per share for the quarter, missing the consensus estimate of $8.10 by ($1.32). Cable One had a return on equity of 22.57% and a net margin of 15.01%. The business had revenue of $278.61 million during the quarter, compared to analysts’ expectations of $279.23 million. During the same quarter in the previous year, the company posted $7.08 earnings per share. The company’s quarterly revenue was up 4.8% compared to the same quarter last year.

Several brokerages recently issued reports on CABO. Stephens began coverage on Cable One in a research note on Wednesday. They issued an “equal weight” rating and a $1,200.00 price objective on the stock. B. Riley reissued a “buy” rating and issued a $1,250.00 price objective (up previously from $1,090.00) on shares of Cable One in a research note on Tuesday, June 4th. Zacks Investment Research raised Cable One from a “hold” rating to a “buy” rating and set a $1,065.00 price objective on the stock in a research note on Tuesday, March 5th. SunTrust Banks increased their price objective on Cable One to $1,020.00 and gave the stock a “hold” rating in a research note on Friday, May 10th. They noted that the move was a valuation call. Finally, KeyCorp reissued an “overweight” rating and issued a $1,316.00 price objective (up previously from $1,210.00) on shares of Cable One in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $1,191.00.

In other Cable One news, insider Peter N. Witty sold 205 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $1,136.80, for a total transaction of $233,044.00. Following the sale, the insider now owns 2,093 shares of the company’s stock, valued at approximately $2,379,322.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Eric Michael Lardy sold 400 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $1,145.00, for a total value of $458,000.00. Following the sale, the senior vice president now directly owns 1,178 shares in the company, valued at approximately $1,348,810. The disclosure for this sale can be found here. Insiders have sold a total of 2,843 shares of company stock worth $3,281,398 in the last ninety days. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. boosted its position in Cable One by 2.4% during the 1st quarter. BlackRock Inc. now owns 430,007 shares of the company’s stock valued at $422,000,000 after acquiring an additional 10,238 shares in the last quarter. Vanguard Group Inc lifted its holdings in shares of Cable One by 2.0% during the 3rd quarter. Vanguard Group Inc now owns 423,990 shares of the company’s stock valued at $374,642,000 after purchasing an additional 8,214 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Cable One by 1.6% during the 1st quarter. William Blair Investment Management LLC now owns 95,033 shares of the company’s stock valued at $93,263,000 after purchasing an additional 1,456 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Cable One by 1.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 78,327 shares of the company’s stock valued at $64,236,000 after purchasing an additional 989 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Cable One by 73.8% during the 1st quarter. Wells Fargo & Company MN now owns 50,248 shares of the company’s stock valued at $49,313,000 after purchasing an additional 21,332 shares during the last quarter. 80.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:CABO opened at $1,170.99 on Friday. Cable One has a 52-week low of $704.60 and a 52-week high of $1,192.79. The company has a market capitalization of $6.33 billion, a PE ratio of 40.70 and a beta of 0.43. The business has a 50 day moving average price of $1,138.14. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.72 and a current ratio of 1.72.

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Tuesday, May 28th were given a dividend of $2.00 per share. The ex-dividend date was Friday, May 24th. This represents a $8.00 annualized dividend and a yield of 0.68%. Cable One’s dividend payout ratio (DPR) is presently 27.81%.

About Cable One

Cable One, Inc owns and operates cable systems that provide data, video, and voice services. The company offers residential data services, including WiFi ONE, a Wi-Fi solution to enhance Wi-Fi signal throughout the home. It also provides residential video services, such as local networks; local community programming that includes governmental and public access; and other channels, which comprise weather, shopping, and religious channels, as well as digital video services, including national and regional cable networks, music channels, and an interactive electronic programming guide with parental controls.

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