Analysts expect Cincinnati Bell Inc. (NYSE:CBB) to post earnings of ($0.26) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Cincinnati Bell’s earnings, with the lowest EPS estimate coming in at ($0.33) and the highest estimate coming in at ($0.13). Cincinnati Bell reported earnings of ($0.19) per share during the same quarter last year, which indicates a negative year over year growth rate of 36.8%. The firm is expected to issue its next quarterly earnings report before the market opens on Thursday, August 8th.
According to Zacks, analysts expect that Cincinnati Bell will report full year earnings of ($1.22) per share for the current financial year, with EPS estimates ranging from ($1.35) to ($1.01). For the next fiscal year, analysts anticipate that the company will report earnings of ($0.88) per share, with EPS estimates ranging from ($1.29) to ($0.64). Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last released its quarterly earnings data on Wednesday, May 8th. The utilities provider reported ($0.48) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.26). The firm had revenue of $379.60 million during the quarter, compared to analysts’ expectations of $382.99 million. The company’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.19) EPS.
In other Cincinnati Bell news, VP Christopher J. Wilson purchased 6,628 shares of Cincinnati Bell stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $6.70 per share, for a total transaction of $44,407.60. Following the acquisition, the vice president now directly owns 90,285 shares in the company, valued at $604,909.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Andrew R. Kaiser purchased 4,300 shares of Cincinnati Bell stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average price of $6.93 per share, for a total transaction of $29,799.00. Following the acquisition, the chief financial officer now owns 62,354 shares in the company, valued at $432,113.22. The disclosure for this purchase can be found here. 2.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the stock. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV purchased a new position in Cincinnati Bell during the 1st quarter valued at about $1,717,000. Dimensional Fund Advisors LP increased its holdings in Cincinnati Bell by 7.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,880,058 shares of the utilities provider’s stock valued at $14,627,000 after purchasing an additional 122,482 shares during the period. BlackRock Inc. increased its holdings in Cincinnati Bell by 0.6% during the 4th quarter. BlackRock Inc. now owns 7,257,778 shares of the utilities provider’s stock valued at $56,465,000 after purchasing an additional 41,767 shares during the period. Gamco Investors INC. ET AL increased its holdings in Cincinnati Bell by 2.4% during the 1st quarter. Gamco Investors INC. ET AL now owns 2,141,523 shares of the utilities provider’s stock valued at $20,430,000 after purchasing an additional 50,503 shares during the period. Finally, Sawtooth Solutions LLC purchased a new position in Cincinnati Bell during the 1st quarter valued at about $167,000. Institutional investors own 95.12% of the company’s stock.
Shares of CBB traded down $0.08 during trading hours on Friday, hitting $3.50. The company had a trading volume of 19,575 shares, compared to its average volume of 468,641. The firm has a market cap of $181.32 million, a price-to-earnings ratio of -3.18 and a beta of 1.42. The company’s 50 day moving average is $4.43. Cincinnati Bell has a 52-week low of $3.33 and a 52-week high of $16.10.
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.
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