Cincinnati Bell Inc (CBB) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS
Cincinnati Bell Inc (NYSE:CBB) announced its quarterly earnings data on Thursday. The utilities provider reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.05, Bloomberg Earnings reports. Cincinnati Bell had a negative return on equity of 3.87% and a net margin of 6.84%. The business had revenue of $289.20 million during the quarter, compared to analyst estimates of $286.22 million. During the same quarter in the prior year, the firm posted $0.38 earnings per share. The company’s revenue was down 7.4% on a year-over-year basis.
Several equities research analysts recently issued reports on the company. BidaskClub downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. ValuEngine raised Cincinnati Bell from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Gabelli lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.50.
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About Cincinnati Bell
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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