Cable One (CABO) Declares $2.95 Dividend
Cable One said on August 18, 2023 that its board of directors declared a regular quarterly dividend of $2.95 per share ($11.80 annualized). Previously, the company paid $2.85 per share.
Shareholders of record as of August 29, 2023 will receive the payment on September 15, 2023.
At the current share price of $633.65 / share, the stock's dividend yield is 1.86%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.84%, the lowest has been 0.44%, and the highest has been 1.83%. The standard deviation of yields is 0.39 (n=236).
The current dividend yield is 2.63 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.60. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
- Read the Ultimate Guide to Dividend Harvesting.
The company's 3-Year dividend growth rate is 0.14%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 741 funds or institutions reporting positions in Cable One. This is a decrease of 94 owner(s) or 11.26% in the last quarter. Average portfolio weight of all funds dedicated to CABO is 0.21%, an increase of 7.32%. Total shares owned by institutions decreased in the last three months by 2.29% to 6,188K shares.
Analyst Price Forecast Suggests 44.23% Upside
As of August 2, 2023, the average one-year price target for Cable One is 913.92. The forecasts range from a low of 676.70 to a high of $1,338.75. The average price target represents an increase of 44.23% from its latest reported closing price of 633.65.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Cable One is 1,743MM, an increase of 2.76%. The projected annual non-GAAP EPS is 53.19.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 472K shares representing 8.40% ownership of the company. In it's prior filing, the firm reported owning 474K shares, representing a decrease of 0.24%. The firm decreased its portfolio allocation in CABO by 10.89% over the last quarter.
Rothschild & Co Wealth Management UK holds 274K shares representing 4.88% ownership of the company. In it's prior filing, the firm reported owning 270K shares, representing an increase of 1.60%. The firm decreased its portfolio allocation in CABO by 13.84% over the last quarter.
Massachusetts Financial Services holds 230K shares representing 4.10% ownership of the company. In it's prior filing, the firm reported owning 181K shares, representing an increase of 21.42%. The firm increased its portfolio allocation in CABO by 14.72% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 180K shares representing 3.20% ownership of the company. In it's prior filing, the firm reported owning 177K shares, representing an increase of 1.65%. The firm decreased its portfolio allocation in CABO by 7.42% over the last quarter.
Neuberger Berman Group holds 171K shares representing 3.04% ownership of the company. In it's prior filing, the firm reported owning 185K shares, representing a decrease of 8.06%. The firm increased its portfolio allocation in CABO by 63.55% over the last quarter.
Cable One Background Information
(This description is provided by the company.)
Cable One, Inc. is a leading broadband communications provider serving more than 950,000 residential and business customers in 21 states through its Sparklight® and Clearwave® brands. Sparklight provides consumers with a wide array of connectivity and entertainment services, including high-speed internet and advanced Wi-Fi solutions, cable television and phone service. Sparklight Business and Clearwave provide scalable and cost-effective products for businesses ranging in size from small to mid-market, in addition to enterprise, wholesale and carrier customers.
Additional reading:
- P. Robert Bartolo Joins Cable One Board of Directors
- Amendment No. 1, dated as of May 22, 2023, to the Fourth Amended and Restated Credit Agreement, dated as of February 22, 2023, among Cable One, Inc., JP Morgan Chase Bank, N.A., as administrative agent, and the lenders party thereto.*
- Cable One Reports Second Quarter 2023 Results
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