Cincinnati Bell (NYSE:CBB) Releases Earnings Results, Misses Estimates By $0.35 EPS
Cincinnati Bell (NYSE:CBB) issued its earnings results on Thursday. The utilities provider reported ($0.46) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.35), Fidelity Earnings reports. The firm had revenue of $390.40 million for the quarter, compared to analyst estimates of $388.57 million. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.55) earnings per share.
CBB stock traded down $0.20 during trading on Friday, hitting $12.83. 380,928 shares of the company’s stock traded hands, compared to its average volume of 940,556. The firm has a market capitalization of $655.96 million, a P/E ratio of -7.46 and a beta of 1.43. The business has a fifty day simple moving average of $11.87 and a two-hundred day simple moving average of $7.11. Cincinnati Bell has a 1 year low of $3.19 and a 1 year high of $14.01.
Several equities analysts recently issued reports on CBB shares. Goldman Sachs Group lowered shares of Cincinnati Bell from a “neutral” rating to a “sell” rating in a report on Tuesday, January 7th. UBS Group lowered shares of Cincinnati Bell to a “hold” rating and set a $10.50 price objective on the stock. in a report on Tuesday, December 24th. ValuEngine lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Saturday, December 21st. Finally, Wells Fargo & Co lowered shares of Cincinnati Bell from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $9.25.
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, as well as long distance, digital trunking, switched access, and other value-added services, such as caller identification, voicemail, call waiting, and call return.
Recommended Story: What is the price-to-earnings growth (PEG) ratio?
Receive News & Ratings for Cincinnati Bell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell and related companies with MarketBeat.com's FREE daily email newsletter.