Cincinnati Bell (NYSE:CBB) issued its quarterly earnings results on Thursday. The utilities provider reported ($0.46) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by ($0.35), Fidelity Earnings reports. The company had revenue of $390.40 million during the quarter, compared to analyst estimates of $388.57 million. Cincinnati Bell’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.55) earnings per share.
Shares of CBB stock traded down $0.20 during trading hours on Friday, reaching $12.83. The company’s stock had a trading volume of 380,928 shares, compared to its average volume of 940,556. The firm’s 50 day simple moving average is $11.87 and its 200-day simple moving average is $7.11. The company has a market capitalization of $655.96 million, a price-to-earnings ratio of -7.46 and a beta of 1.43. Cincinnati Bell has a fifty-two week low of $3.19 and a fifty-two week high of $14.01.
In other Cincinnati Bell news, Director Theodore H. Torbeck sold 15,000 shares of the firm’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $13.31, for a total value of $199,650.00. Following the sale, the director now owns 285,591 shares of the company’s stock, valued at approximately $3,801,216.21. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company’s stock.
CBB has been the topic of a number of analyst reports. ValuEngine downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st. Wells Fargo & Co downgraded Cincinnati Bell from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 2nd. Goldman Sachs Group downgraded Cincinnati Bell from a “neutral” rating to a “sell” rating in a research report on Tuesday, January 7th. Finally, UBS Group downgraded Cincinnati Bell to a “hold” rating and set a $10.50 target price on the stock. in a report on Tuesday, December 24th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has an average rating of “Hold” and an average target price of $9.25.
Cincinnati Bell Company Profile
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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