Cable One, Inc. (NYSE:CABO) Plans Quarterly Dividend of $2.95

Cable One, Inc. (NYSE:CABO) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Stockholders of record on Tuesday, December 3rd will be paid a dividend of 2.95 per share on Friday, December 20th. This represents a $11.80 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Tuesday, December 3rd.

Cable One has increased its dividend payment by an average of 6.9% annually over the last three years. Cable One has a payout ratio of 31.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Cable One to earn $39.55 per share next year, which means the company should continue to be able to cover its $11.80 annual dividend with an expected future payout ratio of 29.8%.

Cable One Stock Up 3.4 %

NYSE:CABO traded up $13.70 during mid-day trading on Friday, hitting $416.55. 88,149 shares of the company’s stock traded hands, compared to its average volume of 103,497. The company has a fifty day moving average of $358.75 and a 200 day moving average of $363.18. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.93 and a current ratio of 0.93. Cable One has a twelve month low of $311.28 and a twelve month high of $574.53. The company has a market capitalization of $2.34 billion, a P/E ratio of 9.60 and a beta of 0.84.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. reduced their price target on shares of Cable One from $480.00 to $470.00 and set a “neutral” rating for the company in a research report on Tuesday, November 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $531.67.

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.