Zacks: Brokerages Expect Cincinnati Bell Inc. (CBB) Will Post Earnings of -$0.17 Per Share

Wall Street analysts forecast that Cincinnati Bell Inc. (NYSE:CBB) will post earnings of ($0.17) per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Cincinnati Bell’s earnings, with the lowest EPS estimate coming in at ($0.32) and the highest estimate coming in at ($0.05). Cincinnati Bell posted earnings of $0.03 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 666.7%. The firm is expected to announce its next quarterly earnings results before the market opens on Thursday, November 8th.

On average, analysts expect that Cincinnati Bell will report full-year earnings of ($1.26) per share for the current fiscal year. For the next financial year, analysts forecast that the firm will post earnings of ($0.48) per share, with EPS estimates ranging from ($0.68) to ($0.23). Zacks’ EPS averages are an average based on a survey of analysts that that provide coverage for Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last announced its earnings results on Wednesday, August 8th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.07). The business had revenue of $296.80 million during the quarter, compared to analysts’ expectations of $298.03 million. The firm’s revenue for the quarter was up 14.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.08 earnings per share.

CBB has been the subject of a number of recent analyst reports. ValuEngine raised Cincinnati Bell from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 14th. UBS Group cut Cincinnati Bell from a “buy” rating to a “hold” rating and set a $18.00 target price for the company. in a research report on Tuesday, July 10th. Finally, Wells Fargo & Co upped their target price on Cincinnati Bell to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, September 6th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $16.33.

Cincinnati Bell stock traded up $0.01 during trading hours on Wednesday, reaching $15.00. 298,300 shares of the company were exchanged, compared to its average volume of 440,596. The stock has a market capitalization of $740.82 million, a P/E ratio of -187.38 and a beta of 1.20. Cincinnati Bell has a 12 month low of $9.90 and a 12 month high of $22.20.

In related news, Director Phillip R. Cox sold 14,597 shares of the company’s stock in a transaction on Thursday, August 16th. The stock was sold at an average price of $12.60, for a total value of $183,922.20. Following the completion of the transaction, the director now directly owns 9,216 shares in the company, valued at $116,121.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.40% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of CBB. Russell Investments Group Ltd. acquired a new position in shares of Cincinnati Bell in the third quarter valued at $127,000. Piedmont Investment Advisors LLC acquired a new position in shares of Cincinnati Bell in the second quarter valued at $155,000. BNP Paribas Arbitrage SA raised its stake in shares of Cincinnati Bell by 31.8% in the second quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock valued at $290,000 after purchasing an additional 4,449 shares in the last quarter. Aperio Group LLC raised its stake in shares of Cincinnati Bell by 48.5% in the second quarter. Aperio Group LLC now owns 19,741 shares of the utilities provider’s stock valued at $310,000 after purchasing an additional 6,448 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Cincinnati Bell in the third quarter valued at $337,000. Institutional investors and hedge funds own 74.41% of the company’s stock.

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, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.

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Earnings History and Estimates for Cincinnati Bell (NYSE:CBB)

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