Analysts Expect Cincinnati Bell Inc. (CBB) Will Announce Quarterly Sales of $386.79 Million

Equities analysts expect that Cincinnati Bell Inc. (NYSE:CBB) will post $386.79 million in sales for the current quarter, according to Zacks. Four analysts have provided estimates for Cincinnati Bell’s earnings. The highest sales estimate is $392.43 million and the lowest is $379.62 million. Cincinnati Bell reported sales of $295.70 million during the same quarter last year, which indicates a positive year-over-year growth rate of 30.8%. The firm is scheduled to issue its next earnings report on Wednesday, May 8th.

On average, analysts expect that Cincinnati Bell will report full-year sales of $1.54 billion for the current financial year, with estimates ranging from $1.53 billion to $1.56 billion. For the next fiscal year, analysts expect that the firm will report sales of $1.57 billion, with estimates ranging from $1.51 billion to $1.63 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, February 14th. The utilities provider reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.14) by ($0.41). The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $391.49 million. Cincinnati Bell’s revenue was up 32.5% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) EPS.

A number of research analysts have weighed in on the stock. ValuEngine raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Morgan Stanley upgraded shares of Cincinnati Bell from an “underweight” rating to an “equal weight” rating and set a $10.00 target price on the stock in a report on Friday, February 15th.

CBB traded down $0.33 during midday trading on Friday, hitting $10.00. The company had a trading volume of 4,545 shares, compared to its average volume of 299,575. Cincinnati Bell has a twelve month low of $6.60 and a twelve month high of $17.60. The stock has a market capitalization of $511.43 million, a PE ratio of -9.03 and a beta of 1.62.

Several institutional investors and hedge funds have recently bought and sold shares of CBB. BlackRock Inc. raised its holdings in Cincinnati Bell by 17.6% during the 3rd quarter. BlackRock Inc. now owns 7,216,011 shares of the utilities provider’s stock worth $115,095,000 after purchasing an additional 1,080,925 shares during the last quarter. Raging Capital Management LLC bought a new position in shares of Cincinnati Bell in the fourth quarter worth approximately $7,300,000. Vanguard Group Inc increased its position in shares of Cincinnati Bell by 13.5% in the third quarter. Vanguard Group Inc now owns 5,085,721 shares of the utilities provider’s stock worth $81,117,000 after purchasing an additional 604,538 shares during the last quarter. Vanguard Group Inc. boosted its stake in Cincinnati Bell by 13.5% in the third quarter. Vanguard Group Inc. now owns 5,085,721 shares of the utilities provider’s stock worth $81,117,000 after buying an additional 604,538 shares in the last quarter. Finally, Brookfield Asset Management Inc. boosted its stake in Cincinnati Bell by 18.1% in the third quarter. Brookfield Asset Management Inc. now owns 2,389,118 shares of the utilities provider’s stock worth $38,106,000 after buying an additional 366,862 shares in the last quarter. Institutional investors own 94.41% of the company’s stock.

Cincinnati Bell Company Profile

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.

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Earnings History and Estimates for Cincinnati Bell (NYSE:CBB)

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