Cincinnati Bell (NYSE:CBB) issued its quarterly earnings data on Thursday. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by ($0.17), Fidelity Earnings reports. The company had revenue of $382.50 million for the quarter, compared to analyst estimates of $381.15 million. During the same quarter in the prior year, the company posted ($0.16) EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis.
Shares of NYSE CBB traded down $0.16 during midday trading on Friday, reaching $5.41. 345,104 shares of the company traded hands, compared to its average volume of 458,159. Cincinnati Bell has a 52 week low of $3.19 and a 52 week high of $13.19. The stock has a 50-day moving average price of $4.96 and a 200 day moving average price of $5.60. The company has a market cap of $270.76 million, a price-to-earnings ratio of -4.87 and a beta of 1.24.
A number of equities research analysts recently weighed in on CBB shares. ValuEngine cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. UBS Group upgraded shares of Cincinnati Bell from a “neutral” rating to a “buy” rating and cut their price objective for the company from $11.00 to $7.00 in a research note on Friday, August 9th.
In related news, Director Theodore H. Torbeck sold 55,000 shares of Cincinnati Bell stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $7.11, for a total transaction of $391,050.00. Following the transaction, the director now directly owns 315,591 shares of the company’s stock, valued at $2,243,852.01. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last 90 days, insiders have purchased 13,750 shares of company stock worth $62,075. Company insiders own 2.40% of the company’s stock.
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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