Cincinnati Bell Inc (NYSE:CBB) – Stock analysts at Gabelli upped their FY2020 earnings estimates for shares of Cincinnati Bell in a research note issued to investors on Wednesday. Gabelli analyst S. Dluzhevskiy now expects that the utilities provider will post earnings per share of $0.50 for the year, up from their prior estimate of $0.45.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Tuesday, May 9th. The utilities provider reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.60. Cincinnati Bell had a net margin of 13.23% and a negative return on equity of 3.12%. The firm had revenue of $278 million during the quarter, compared to analyst estimates of $291.68 million. During the same period in the previous year, the company posted $0.02 earnings per share. Cincinnati Bell’s revenue was down 3.8% compared to the same quarter last year. ILLEGAL ACTIVITY WARNING: “Gabelli Equities Analysts Increase Earnings Estimates for Cincinnati Bell Inc (CBB)” was originally posted by WKRB News and is owned by of WKRB News. If you are accessing this story on another domain, it was stolen and republished in violation of international copyright and trademark legislation. The legal version of this story can be viewed at https://www.wkrb13.com/markets/2229979/gabelli-equities-analysts-increase-earnings-estimates-for-cincinnati-bell-inc-cbb.html.
CBB has been the subject of a number of other reports. ValuEngine downgraded Cincinnati Bell from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Morgan Stanley restated an “equal weight” rating and set a $22.00 price objective (down from $25.00) on shares of Cincinnati Bell in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $21.08.
Shares of Cincinnati Bell (CBB) opened at 19.10 on Thursday. Cincinnati Bell has a one year low of $16.05 and a one year high of $25.65. The firm has a market capitalization of $804.76 million, a P/E ratio of 5.54 and a beta of 1.69. The company’s 50 day moving average price is $17.56 and its 200 day moving average price is $19.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Cincinnati Bell during the fourth quarter worth about $4,150,000. Louisiana State Employees Retirement System raised its position in shares of Cincinnati Bell by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,180 shares of the utilities provider’s stock worth $304,000 after buying an additional 300 shares during the period. Clinton Group Inc. acquired a new position in shares of Cincinnati Bell during the first quarter worth about $259,000. Great West Life Assurance Co. Can raised its stake in shares of Cincinnati Bell by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 57,242 shares of the utilities provider’s stock valued at $1,010,000 after buying an additional 4,661 shares during the period. Finally, Nationwide Fund Advisors raised its stake in shares of Cincinnati Bell by 50.7% in the first quarter. Nationwide Fund Advisors now owns 73,070 shares of the utilities provider’s stock valued at $1,293,000 after buying an additional 24,592 shares during the period. Institutional investors own 82.28% of the company’s stock.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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