Analysts expect Cincinnati Bell Inc. (NYSE:CBB) to report ($0.32) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Cincinnati Bell’s earnings. Cincinnati Bell posted earnings of $0.03 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 1,166.7%. The company is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 8th.
On average, analysts expect that Cincinnati Bell will report full-year earnings of ($1.26) per share for the current financial year. For the next fiscal year, analysts anticipate that the firm will report earnings of ($0.68) per share. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last released its quarterly earnings results on Wednesday, August 8th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.12) by ($0.07). The business had revenue of $296.80 million during the quarter, compared to analyst estimates of $298.03 million. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.08 EPS.
A number of research analysts recently issued reports on the company. ValuEngine upgraded Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. UBS Group cut Cincinnati Bell from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a report on Tuesday, July 10th. Finally, Wells Fargo & Co boosted their price target on Cincinnati Bell to $15.00 and gave the stock an “outperform” rating in a report on Thursday, September 6th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Cincinnati Bell presently has a consensus rating of “Buy” and a consensus target price of $16.33.
Shares of Cincinnati Bell stock traded up $0.22 during trading hours on Wednesday, reaching $14.99. 6,057 shares of the stock traded hands, compared to its average volume of 400,134. The company has a market cap of $740.82 million, a P/E ratio of -186.75 and a beta of 1.20. Cincinnati Bell has a one year low of $9.90 and a one year high of $22.20.
In related news, Director Phillip R. Cox sold 14,597 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $12.60, for a total value of $183,922.20. Following the transaction, the director now directly owns 9,216 shares of the company’s stock, valued at approximately $116,121.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.40% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Northern Trust Corp raised its holdings in shares of Cincinnati Bell by 1.2% during the 1st quarter. Northern Trust Corp now owns 525,751 shares of the utilities provider’s stock worth $7,282,000 after acquiring an additional 6,399 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cincinnati Bell by 2.9% during the 1st quarter. Principal Financial Group Inc. now owns 324,946 shares of the utilities provider’s stock worth $4,500,000 after acquiring an additional 9,265 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Cincinnati Bell by 34.4% during the 1st quarter. Legal & General Group Plc now owns 120,636 shares of the utilities provider’s stock worth $1,664,000 after acquiring an additional 30,860 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of Cincinnati Bell by 31.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock worth $290,000 after acquiring an additional 4,449 shares in the last quarter. Finally, Piedmont Investment Advisors LLC purchased a new stake in shares of Cincinnati Bell during the 2nd quarter worth approximately $155,000. 74.41% of the stock is currently owned by institutional investors.
About Cincinnati Bell
Cincinnati Bell Inc, together with its subsidiaries, provides diversified telecommunications and technology services to residential and business customers in the United States. It operates in two segments, Entertainment and Communications, and IT Services and Hardware. The Entertainment and Communications segment offers data services, including high-speed Internet access, data transport, and interconnection services, as well as metro-Ethernet products; and voice local services, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.
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