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Cable One Inc (NYSE:CABO) is an American broadband communications provider. CABO serves more than 1.1 million residential and business customers in 24 states through Sparklight and their portfolio of brands. Cable One provides residential customers with a variety of connectivity and entertainment services, including Gigabit speeds, advanced Wi-Fi, and video through its fiber-optic infrastructure. CABO also offers broadband solutions for businesses of all sizes.
On May 23, Cable One announced the authorization of a stock repurchase program of up to $450 million of CABO stock. The repurchase program is in addition to the remaining repurchase authorization previously approved by the company’s board in July of 2015, of which $75.4 million of repurchase authorization remained as of March 31.
Cable One stock has decreased about 34% in price year-over-year and CABO is down 42% since reaching its 52-week high of $2,136.14 last September. Additionally, shares of CABO have dropped in price 29% year-to-date. However, Cable One stock price is up 9% over the past month and has recovered 18% since shooting down to a 52-week low of $1,049.81 in early May. Cable One stock also offers a dividend yield of 0.9% with a forward dividend of $11.00.
The broadband company has already managed to increase their trailing 12-month revenues and net income 5.3% and 36.2%, respectively, since their fiscal 2021 report. Current estimates indicate 7.6% revenue growth and 44.8% earnings growth for fiscal 2022.
Nonetheless, Cable One stock's valuation remains high at a price-earnings ratio of 19.99 and a price-sales ratio of 4.55, when taking the broadband company’s 2023 estimates into account. For fiscal 2023 Cable One is expected to grow revenues only 2.5% and see a 10.2% drop in earnings. In addition, CABO is badly postured for the long-term with $3.89 billion in total debt and just $368.17 million in cash on their balance sheet, making Cable One stock too high-risk of an investment for fundamental-based investors at this time.
Outdoor living is one of the largest sectors of the stock market. The United States spends over $800 billion every year on outdoor entertainment. To put that in context that spending number is on par with the financial services and insurance sector. And, it's almost double the spending in the pharmaceutical industry.
Stocks that focused on outdoor living surged during the pandemic because many Americans understood that being outside (albeit in a socially distanced fashion) was paramount to their physical and mental health. However, the sector didn't see a slowdown in 2021. And it looks like it will continue to be a strong sector in 2022. One reason for that is inflation. It's likely that travel budgets may be affected. But sunshine and fresh air are free.
But isn't this a lousy time to buy stocks? It could be. But it really comes down to being picky. Quality still matters and there are many quality names in this sector. And in this MarketBeat exclusive, we offer seven outdoor living stocks that are good buying opportunities because they lean into the larger macroeconomic picture.
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In today’s episode, Kate welcomes guest Sean Bonner, co-founder of Guild Financial, a self-directed investing and financial education platform, with a special focus on the military community. Sean’s background as a portfolio manager and Navy officer informs his view of the economy and his approach to investing
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