Cincinnati Bell Inc. (NYSE:CBB) Expected to Post Quarterly Sales of $375.95 Million

Equities analysts expect Cincinnati Bell Inc. (NYSE:CBB) to announce sales of $375.95 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Cincinnati Bell’s earnings, with the lowest sales estimate coming in at $375.60 million and the highest estimate coming in at $376.55 million. Cincinnati Bell posted sales of $296.80 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 26.7%. The business is expected to announce its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Cincinnati Bell will report full-year sales of $1.52 billion for the current fiscal year, with estimates ranging from $1.52 billion to $1.53 billion. For the next fiscal year, analysts anticipate that the business will report sales of $1.52 billion, with estimates ranging from $1.48 billion to $1.55 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last released its earnings results on Wednesday, May 8th. The utilities provider reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.22) by ($0.26). The business had revenue of $379.60 million for the quarter, compared to analyst estimates of $382.99 million. During the same quarter last year, the business earned ($0.19) earnings per share. Cincinnati Bell’s quarterly revenue was up 28.4% on a year-over-year basis.

CBB has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. Morgan Stanley restated an “equal weight” rating and set a $8.00 price target (down previously from $10.00) on shares of Cincinnati Bell in a report on Friday, June 7th.

Shares of NYSE CBB traded up $0.03 during midday trading on Wednesday, reaching $4.96. 411,408 shares of the stock were exchanged, compared to its average volume of 413,394. The firm has a 50 day moving average of $6.56. The stock has a market cap of $256.87 million, a PE ratio of -4.47 and a beta of 1.70. Cincinnati Bell has a twelve month low of $4.78 and a twelve month high of $17.60.

In related news, VP Christopher J. Wilson bought 6,628 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $6.70 per share, for a total transaction of $44,407.60. Following the acquisition, the vice president now owns 90,285 shares of the company’s stock, valued at $604,909.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Andrew R. Kaiser bought 4,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was bought at an average price of $6.93 per share, with a total value of $29,799.00. Following the acquisition, the chief financial officer now directly owns 62,354 shares in the company, valued at approximately $432,113.22. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its stake in shares of Cincinnati Bell by 466.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,614 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 8,741 shares in the last quarter. Seven Post Investment Office LP acquired a new position in shares of Cincinnati Bell in the fourth quarter worth $109,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Cincinnati Bell by 323.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,060 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 10,740 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Cincinnati Bell in the fourth quarter worth $113,000. Finally, Menta Capital LLC acquired a new position in shares of Cincinnati Bell in the first quarter worth $127,000. Hedge funds and other institutional investors own 95.00% 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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