Brokers Issue Forecasts for Cincinnati Bell Inc.’s FY2019 Earnings (CBB)
Cincinnati Bell Inc. (NYSE:CBB) – Equities research analysts at Gabelli cut their FY2019 earnings per share (EPS) estimates for Cincinnati Bell in a report released on Thursday. Gabelli analyst S. Dluzhevskiy now forecasts that the firm will post earnings of $0.15 per share for the year, down from their prior forecast of $0.25. Gabelli has a “Buy” rating on the stock.
Cincinnati Bell (NYSE:CBB) last posted its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.35. The company earned $299 million during the quarter, compared to analysts’ expectations of $295.79 million. Cincinnati Bell had a net margin of 16.78% and a negative return on equity of 5.73%. Cincinnati Bell’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company posted $0.01 earnings per share.
Several other research firms also recently weighed in on CBB. Bank of America Corp. set a $16.25 target price on shares of Cincinnati Bell and gave the stock a “sell” rating in a research report on Wednesday, August 3rd. Raymond James Financial Inc. reissued a “market perform” rating on shares of Cincinnati Bell in a research report on Monday, August 8th. Finally, Zacks Investment Research downgraded shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Monday, August 29th.
Cincinnati Bell (NYSE:CBB) traded down 0.56% during trading on Friday, reaching $19.68. 383,119 shares of the company traded hands. Cincinnati Bell has a 52 week low of $14.00 and a 52 week high of $25.65. The company has a market capitalization of $827.23 million, a P/E ratio of 4.45 and a beta of 1.60. The firm has a 50-day moving average price of $20.53 and a 200-day moving average price of $20.83.
In other news, VP Christopher J. Wilson sold 30,000 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $3.70, for a total value of $111,000.00. Following the sale, the vice president now directly owns 74,457 shares of the company’s stock, valued at approximately $275,490.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.
Several institutional investors have recently bought and sold shares of CBB. First Allied Advisory Services Inc. purchased a new position in Cincinnati Bell during the second quarter valued at about $103,000. Guggenheim Capital LLC boosted its position in Cincinnati Bell by 9.7% in the second quarter. Guggenheim Capital LLC now owns 23,553 shares of the company’s stock valued at $108,000 after buying an additional 2,088 shares in the last quarter. Amalgamated Bank boosted its position in Cincinnati Bell by 11.2% in the second quarter. Amalgamated Bank now owns 25,038 shares of the company’s stock valued at $117,000 after buying an additional 2,513 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Cincinnati Bell by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 26,286 shares of the company’s stock valued at $120,000 after buying an additional 3,035 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its position in Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock valued at $121,000 after buying an additional 1,518 shares in the last quarter. Hedge funds and other institutional investors own 79.60% of the company’s stock.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
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