Cincinnati Bell (NYSE:CBB) Posts Earnings Results, Misses Estimates By $0.35 EPS

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 analysts’ consensus estimates of ($0.11) by ($0.35), Fidelity Earnings reports. The firm had revenue of $390.40 million for the quarter, compared to analyst estimates of $388.57 million. During the same quarter last year, the business posted ($0.55) EPS. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis.

Cincinnati Bell stock traded down $0.20 during trading hours on Friday, hitting $12.83. 380,928 shares of the company traded hands, compared to its average volume of 940,556. The firm has a market cap of $655.96 million, a P/E ratio of -7.46 and a beta of 1.43. The firm’s 50-day simple moving average is $11.87 and its two-hundred day simple moving average is $7.11. Cincinnati Bell has a 1-year low of $3.19 and a 1-year high of $14.01.

A number of research analysts have recently issued reports on CBB shares. UBS Group lowered shares of Cincinnati Bell to a “hold” rating and set a $10.50 price target on the stock. in a research note on Tuesday, December 24th. Goldman Sachs Group downgraded shares of Cincinnati Bell from a “neutral” rating to a “sell” rating in a research note on Tuesday, January 7th. ValuEngine lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Saturday, December 21st. Finally, Wells Fargo & Co lowered shares of Cincinnati Bell from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 2nd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Cincinnati Bell presently has an average rating of “Hold” and an average target price of $9.25.

In other Cincinnati Bell news, Director Theodore H. Torbeck sold 15,000 shares of the firm’s stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $13.31, for a total transaction of $199,650.00. Following the transaction, the director now owns 285,591 shares of the company’s stock, valued at approximately $3,801,216.21. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.40% of the stock is currently owned by company insiders.

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 for Cincinnati Bell (NYSE:CBB)

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