Yes, you can use the same coaxial cable for external TV antenna. The coaxial cable has 75 ohm impedance, which is the same as the ext Tv antenna.
As for distributing the signal to four TV sets, you have to try. I guess, if you do not have a powered distribution box and do not wish to turn on all four TV sets or three of them at the same time, there should not be any problem. If you turn them all on, TV reception may get impaired. In this case you may have to use a powered distribution box.