Fintel reports that on August 4, 2023, Raymond James maintained coverage of Cable One (NYSE:CABO) with a Outperform recommendation.
Analyst Price Forecast Suggests 36.61% 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 36.61% from its latest reported closing price of 668.98.
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.
Cable One Declares $2.85 Dividend
On May 19, 2023 the company declared a regular quarterly dividend of $2.85 per share ($11.40 annualized). Shareholders of record as of May 30, 2023 received the payment on June 16, 2023. Previously, the company paid $2.85 per share.
At the current share price of $668.98 / share, the stock's dividend yield is 1.70%.
Looking back five years and taking a sample every week, the average dividend yield has been 0.83%, the lowest has been 0.44%, and the highest has been 1.83%. The standard deviation of yields is 0.38 (n=236).
The current dividend yield is 2.32 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.61. 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.
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 759 funds or institutions reporting positions in Cable One. This is a decrease of 102 owner(s) or 11.85% in the last quarter. Average portfolio weight of all funds dedicated to CABO is 0.21%, a decrease of 9.20%. Total shares owned by institutions decreased in the last three months by 0.61% to 6,320K shares.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 474K shares representing 8.34% ownership of the company. In it's prior filing, the firm reported owning 485K shares, representing a decrease of 2.31%. The firm decreased its portfolio allocation in CABO by 4.74% over the last quarter.
Rothschild & Co Wealth Management UK holds 274K shares representing 4.83% 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.
Neuberger Berman Group holds 185K shares representing 3.26% ownership of the company. In it's prior filing, the firm reported owning 157K shares, representing an increase of 15.36%. The firm increased its portfolio allocation in CABO by 10.22% over the last quarter.
Massachusetts Financial Services holds 181K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 138K shares, representing an increase of 23.94%. The firm increased its portfolio allocation in CABO by 27.11% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 180K shares representing 3.17% 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.
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:
- LIBOR HARDWIRE TRANSITION AMENDMENT AMENDMENT NO. 1
- Cable One Reports Second Quarter 2023 Results
- CABLE ONE, INC. 2022 OMNIBUS INCENTIVE COMPENSATION PLAN RESTRICTED STOCK UNIT GRANT NOTICE (NON-EMPLOYEE DIRECTOR ANNUAL GRANTS)
- CABLE ONE, INC. 2022 OMNIBUS INCENTIVE COMPENSATION PLAN RESTRICTED STOCK UNIT GRANT NOTICE (NON-EMPLOYEE DIRECTOR IN LIEU OF CASH FEES)
- Cable One Reports First Quarter 2023 Results
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
