Cable One (NYSE:CABO) Sets New 12-Month Low After Analyst Downgrade

Cable One, Inc. (NYSE:CABO) shares reached a new 52-week low on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $420.00 to $325.00. JPMorgan Chase & Co. currently has a neutral rating on the stock. Cable One traded as low as $240.55 and last traded at $241.98, with a volume of 199040 shares traded. The stock had previously closed at $260.18.

Several other equities analysts have also recently commented on CABO. Wells Fargo & Company reduced their price objective on shares of Cable One from $340.00 to $240.00 and set an “underweight” rating for the company in a research note on Friday. KeyCorp decreased their price objective on Cable One from $825.00 to $650.00 and set an “overweight” rating on the stock in a report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Cable One presently has a consensus rating of “Hold” and an average target price of $457.20.

Hedge Funds Weigh In On Cable One

Several hedge funds and other institutional investors have recently modified their holdings of CABO. Speece Thorson Capital Group Inc. grew its position in Cable One by 24.6% during the third quarter. Speece Thorson Capital Group Inc. now owns 27,348 shares of the company’s stock valued at $9,566,000 after buying an additional 5,394 shares during the period. Hantz Financial Services Inc. grew its position in shares of Cable One by 116.4% during the 3rd quarter. Hantz Financial Services Inc. now owns 4,497 shares of the company’s stock valued at $1,573,000 after acquiring an additional 2,419 shares during the period. Kingsview Wealth Management LLC increased its stake in shares of Cable One by 5.8% in the 4th quarter. Kingsview Wealth Management LLC now owns 23,660 shares of the company’s stock worth $8,568,000 after purchasing an additional 1,297 shares in the last quarter. MetLife Investment Management LLC grew its holdings in Cable One by 129.0% during the third quarter. MetLife Investment Management LLC now owns 3,259 shares of the company’s stock valued at $1,140,000 after purchasing an additional 1,836 shares during the period. Finally, Geode Capital Management LLC increased its position in Cable One by 1.6% in the third quarter. Geode Capital Management LLC now owns 118,170 shares of the company’s stock worth $41,342,000 after buying an additional 1,839 shares in the last quarter. 89.92% of the stock is owned by institutional investors.

Cable One Price Performance

The firm has a 50 day moving average price of $319.90 and a 200 day moving average price of $349.37. The stock has a market cap of $1.36 billion, a P/E ratio of 5.60 and a beta of 0.89. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.84.

Cable One Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $2.95 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $11.80 annualized dividend and a dividend yield of 4.88%. Cable One’s dividend payout ratio (DPR) is 229.57%.

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.