Zacks: Analysts Expect Cincinnati Bell Inc. (NYSE:CBB) Will Announce Earnings of -$0.20 Per Share

Wall Street analysts forecast that Cincinnati Bell Inc. (NYSE:CBB) will announce earnings per share of ($0.20) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Cincinnati Bell’s earnings, with the highest EPS estimate coming in at ($0.13) and the lowest estimate coming in at ($0.24). Cincinnati Bell posted earnings per share of ($0.16) during the same quarter last year, which indicates a negative year over year growth rate of 25%. The business is expected to announce its next quarterly earnings results on Thursday, November 14th.

On average, analysts expect that Cincinnati Bell will report full year earnings of ($1.22) per share for the current financial year, with EPS estimates ranging from ($1.35) to ($1.01). For the next fiscal year, analysts expect that the company will report earnings of ($0.88) per share, with EPS estimates ranging from ($1.29) to ($0.64). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that follow Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.12. The firm had revenue of $384.20 million for the quarter, compared to analyst estimates of $377.08 million. During the same period in the prior year, the business earned ($0.19) earnings per share. Cincinnati Bell’s revenue for the quarter was up 29.4% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $8.00 price target (down from $10.00) on shares of Cincinnati Bell in a research note on Friday, June 7th. UBS Group raised shares of Cincinnati Bell from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $11.00 to $7.00 in a research note on Friday. Finally, ValuEngine raised shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Shares of Cincinnati Bell stock traded up $0.27 during mid-day trading on Friday, hitting $4.27. 925,803 shares of the stock were exchanged, compared to its average volume of 428,178. Cincinnati Bell has a twelve month low of $3.19 and a twelve month high of $16.10. The company has a market cap of $180.32 million, a PE ratio of -3.85 and a beta of 1.42. The stock has a 50-day moving average of $4.35.

In related news, CFO Andrew R. Kaiser acquired 4,300 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average cost of $6.93 per share, for a total transaction of $29,799.00. Following the acquisition, the chief financial officer now directly owns 62,354 shares in the company, valued at approximately $432,113.22. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Christopher J. Wilson acquired 6,628 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $6.70 per share, for a total transaction of $44,407.60. Following the completion of the acquisition, the vice president now owns 90,285 shares in the company, valued at $604,909.50. The disclosure for this purchase can be found here. 2.40% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in CBB. Bank of Montreal Can lifted its stake in Cincinnati Bell by 123.0% in the second quarter. Bank of Montreal Can now owns 5,616 shares of the utilities provider’s stock valued at $28,000 after buying an additional 3,098 shares during the period. Schroder Investment Management Group acquired a new stake in shares of Cincinnati Bell in the second quarter worth $130,000. Sawtooth Solutions LLC increased its stake in shares of Cincinnati Bell by 120.6% in the second quarter. Sawtooth Solutions LLC now owns 38,594 shares of the utilities provider’s stock worth $191,000 after acquiring an additional 21,101 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Cincinnati Bell by 31.3% in the second quarter. JPMorgan Chase & Co. now owns 158,901 shares of the utilities provider’s stock worth $793,000 after acquiring an additional 37,849 shares during the period. Finally, Teton Advisors Inc. increased its stake in shares of Cincinnati Bell by 13.9% in the second quarter. Teton Advisors Inc. now owns 328,000 shares of the utilities provider’s stock worth $1,624,000 after acquiring an additional 39,961 shares during the period. Institutional investors and hedge funds own 95.12% 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, 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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Earnings History and Estimates for Cincinnati Bell (NYSE:CBB)

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