Cincinnati Bell Inc. (CBB) Forecasted to Post FY2017 Earnings of $0.05 Per Share
Cincinnati Bell Inc. (NYSE:CBB) – Research analysts at Gabelli issued their FY2017 earnings per share estimates for Cincinnati Bell in a note issued to investors on Thursday. Gabelli analyst S. Dluzhevskiy forecasts that the firm will post earnings per share of $0.05 for the year. Gabelli currently has a “Buy” rating on the stock. Gabelli also issued estimates for Cincinnati Bell’s FY2018 earnings at ($0.05) EPS and FY2020 earnings at $0.30 EPS.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.35. Cincinnati Bell had a net margin of 16.78% and a negative return on equity of 5.73%. The firm earned $299 million during the quarter, compared to the consensus estimate of $295.79 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year.
Several other brokerages also recently weighed in on CBB. Bank of America Corp. set a $16.25 target price on shares of Cincinnati Bell and gave the company a “sell” rating in a research note on Wednesday, August 3rd. Raymond James Financial Inc. restated a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Finally, Zacks Investment Research downgraded shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Monday, August 29th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/10/cincinnati-bell-inc-cbb-forecasted-to-post-fy2017-earnings-of-0-05-per-share.html
Shares of Cincinnati Bell (NYSE:CBB) opened at 19.68 on Monday. The company has a market cap of $827.23 million, a P/E ratio of 4.45 and a beta of 1.60. The stock’s 50 day moving average is $20.53 and its 200-day moving average is $20.83. Cincinnati Bell has a 12 month low of $14.00 and a 12 month high of $25.65.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Cincinnati Bell by 5.9% in the second quarter. Vanguard Group Inc. now owns 27,927,150 shares of the company’s stock worth $127,627,000 after buying an additional 1,550,709 shares in the last quarter. BlackRock Fund Advisors boosted its position in Cincinnati Bell by 13.6% in the second quarter. BlackRock Fund Advisors now owns 20,393,608 shares of the company’s stock worth $93,199,000 after buying an additional 2,437,077 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Cincinnati Bell by 2.3% in the second quarter. Dimensional Fund Advisors LP now owns 7,517,864 shares of the company’s stock worth $34,356,000 after buying an additional 171,629 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Cincinnati Bell by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,445,122 shares of the company’s stock worth $21,073,000 after buying an additional 42,629 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in Cincinnati Bell by 2.6% in the second quarter. Principal Financial Group Inc. now owns 1,518,146 shares of the company’s stock worth $6,938,000 after buying an additional 38,772 shares in the last quarter. 79.60% of the stock is owned by institutional investors and hedge funds.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the firm’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the transaction, the vice president now owns 74,457 shares of the company’s stock, valued at $275,490.90. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by company insiders.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
Receive News & Ratings for Cincinnati Bell Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell Inc. and related companies with MarketBeat.com's FREE daily email newsletter.