$0.02 Earnings Per Share Expected for Cincinnati Bell Inc (CBB) This Quarter
Equities research analysts predict that Cincinnati Bell Inc (NYSE:CBB) will post earnings per share of $0.02 for the current quarter, Zacks reports. Four analysts have provided estimates for Cincinnati Bell’s earnings, with estimates ranging from ($0.04) to $0.06. Cincinnati Bell reported earnings per share of $0.05 in the same quarter last year, which suggests a negative year over year growth rate of 60%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Cincinnati Bell will report full year earnings of $1.36 per share for the current fiscal year, with EPS estimates ranging from $1.29 to $1.42. For the next year, analysts anticipate that the firm will report earnings of $0.20 per share, with EPS estimates ranging from $0.04 to $0.44. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that cover Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.07 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.07. The business had revenue of $294.00 million during the quarter, compared to analyst estimates of $284.28 million. Cincinnati Bell had a negative return on equity of 3.87% and a net margin of 6.84%. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.04 EPS.
Several research analysts have recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 price objective (down from $25.00) on shares of Cincinnati Bell in a report on Wednesday, June 14th. BidaskClub cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Saturday, August 19th. ValuEngine cut shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Finally, Gabelli cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Cincinnati Bell presently has an average rating of “Hold” and an average price target of $23.50.
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Cincinnati Bell (NYSE:CBB) opened at 19.60 on Friday. The firm’s 50-day moving average price is $20.42 and its 200-day moving average price is $18.70. Cincinnati Bell has a 12-month low of $16.05 and a 12-month high of $24.45. The stock has a market cap of $826.63 million, a price-to-earnings ratio of 11.95 and a beta of 1.59.
Large investors have recently modified their holdings of the stock. Pinebridge Investments L.P. boosted its holdings in Cincinnati Bell by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 5,551 shares of the utilities provider’s stock worth $108,000 after buying an additional 55 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Cincinnati Bell by 10.3% during the second quarter. Public Employees Retirement System of Ohio now owns 6,511 shares of the utilities provider’s stock worth $127,000 after buying an additional 606 shares in the last quarter. BNP Paribas Arbitrage SA bought a new stake in Cincinnati Bell during the first quarter worth approximately $161,000. State of Alaska Department of Revenue boosted its holdings in Cincinnati Bell by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 8,316 shares of the utilities provider’s stock worth $162,000 after buying an additional 3,666 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its holdings in Cincinnati Bell by 7.3% during the first quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock worth $174,000 after buying an additional 668 shares in the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.
Cincinnati Bell Company Profile
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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