Cincinnati Bell Inc. (CBB) Expected to Post Earnings of -$0.11 Per Share
Equities research analysts expect that Cincinnati Bell Inc. (NYSE:CBB) will post earnings per share (EPS) of ($0.11) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Cincinnati Bell’s earnings, with estimates ranging from ($0.16) to ($0.04). Cincinnati Bell reported earnings of ($0.01) per share in the same quarter last year, which would suggest a negative year over year growth rate of 1,000%. The business is scheduled to announce its next earnings results on Tuesday, May 8th.
According to Zacks, analysts expect that Cincinnati Bell will report full year earnings of ($0.14) per share for the current year, with EPS estimates ranging from ($0.63) to $0.50. For the next financial year, analysts expect that the firm will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.57) to ($0.04). Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Thursday, February 15th. The utilities provider reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.24). The company had revenue of $427.10 million for the quarter, compared to the consensus estimate of $462.31 million. Cincinnati Bell had a net margin of 2.52% and a negative return on equity of 0.61%. The business’s revenue for the quarter was up 49.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.01 EPS.
In related news, CFO Andrew R. Kaiser bought 3,000 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were purchased at an average price of $15.90 per share, with a total value of $47,700.00. Following the transaction, the chief financial officer now owns 24,280 shares in the company, valued at approximately $386,052. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Christopher J. Wilson acquired 2,959 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $14.45 per share, with a total value of $42,757.55. Following the acquisition, the vice president now owns 51,723 shares in the company, valued at $747,397.35. The disclosure for this purchase can be found here. In the last three months, insiders have bought 7,334 shares of company stock worth $110,450. Corporate insiders own 1.40% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CBB. Millennium Management LLC boosted its holdings in Cincinnati Bell by 77.1% during the 4th quarter. Millennium Management LLC now owns 450,300 shares of the utilities provider’s stock valued at $9,389,000 after acquiring an additional 196,034 shares during the period. Kennedy Capital Management Inc. boosted its holdings in Cincinnati Bell by 74.2% during the 4th quarter. Kennedy Capital Management Inc. now owns 326,172 shares of the utilities provider’s stock valued at $6,801,000 after acquiring an additional 138,970 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Cincinnati Bell by 53.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 286,204 shares of the utilities provider’s stock valued at $5,968,000 after acquiring an additional 99,141 shares during the period. BlackRock Inc. boosted its holdings in Cincinnati Bell by 1.3% during the 4th quarter. BlackRock Inc. now owns 6,194,055 shares of the utilities provider’s stock valued at $129,146,000 after acquiring an additional 77,719 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its holdings in Cincinnati Bell by 55.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 211,538 shares of the utilities provider’s stock valued at $4,136,000 after acquiring an additional 75,169 shares during the period. Institutional investors own 83.52% of the company’s stock.
Cincinnati Bell (NYSE CBB) traded down $0.60 during midday trading on Friday, hitting $15.50. The stock had a trading volume of 653,388 shares, compared to its average volume of 361,583. The company has a market cap of $653.88, a P/E ratio of 20.67 and a beta of 1.46. The company has a current ratio of 1.99, a quick ratio of 0.94 and a debt-to-equity ratio of -6.35. Cincinnati Bell has a 52-week low of $14.00 and a 52-week high of $22.20.
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About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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