Wall Street brokerages expect Cincinnati Bell Inc. (NYSE:CBB) to report $390.31 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for Cincinnati Bell’s earnings, with estimates ranging from $386.90 million to $392.70 million. Cincinnati Bell posted sales of $289.20 million in the same quarter last year, which suggests a positive year-over-year growth rate of 35%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 1st.
On average, analysts expect that Cincinnati Bell will report full year sales of $1.38 billion for the current fiscal year, with estimates ranging from $1.37 billion to $1.38 billion. For the next financial year, analysts forecast that the company will post sales of $1.58 billion, with estimates ranging from $1.55 billion to $1.62 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Wednesday, August 8th. The utilities provider reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The firm had revenue of $296.80 million during the quarter, compared to the consensus estimate of $298.03 million. The company’s revenue was up 14.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.08 EPS.
Several equities analysts have recently commented on CBB shares. ValuEngine upgraded Cincinnati Bell from a “strong sell” rating to a “sell” rating in a research note on Monday, June 18th. 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 note on Tuesday, July 10th. Finally, Wells Fargo & Co increased their target price on Cincinnati Bell to $15.00 and gave the company an “outperform” rating in a research note on Thursday, September 6th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $16.33.
In other news, Director Phillip R. Cox sold 14,597 shares of the stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $12.60, for a total transaction of $183,922.20. Following the completion of the transaction, the director now directly owns 9,216 shares in the company, valued at approximately $116,121.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in CBB. BlackRock Inc. lifted its stake in Cincinnati Bell by 8.1% during the second quarter. BlackRock Inc. now owns 6,135,086 shares of the utilities provider’s stock worth $96,320,000 after purchasing an additional 461,024 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Cincinnati Bell by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,640,506 shares of the utilities provider’s stock worth $25,756,000 after purchasing an additional 14,578 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Cincinnati Bell by 2.5% during the second quarter. Bank of New York Mellon Corp now owns 680,810 shares of the utilities provider’s stock worth $10,688,000 after purchasing an additional 16,698 shares during the last quarter. Northern Trust Corp lifted its stake in Cincinnati Bell by 2.2% during the second quarter. Northern Trust Corp now owns 537,371 shares of the utilities provider’s stock worth $8,436,000 after purchasing an additional 11,620 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Cincinnati Bell by 11.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 474,530 shares of the utilities provider’s stock worth $7,451,000 after purchasing an additional 49,593 shares during the last quarter. Institutional investors own 74.32% of the company’s stock.
Cincinnati Bell stock opened at $15.33 on Tuesday. The company has a market cap of $800.01 million, a PE ratio of -191.63 and a beta of 1.15. The company has a debt-to-equity ratio of -6.33, a current ratio of 1.90 and a quick ratio of 1.81. Cincinnati Bell has a 52 week low of $9.90 and a 52 week high of $22.20.
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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