Zacks: Brokerages Anticipate Cincinnati Bell Inc. (NYSE:CBB) Will Post Earnings of -$0.26 Per Share
Equities research analysts expect Cincinnati Bell Inc. (NYSE:CBB) to announce earnings of ($0.26) per share for the current quarter, according to Zacks. Three analysts have issued estimates for Cincinnati Bell’s earnings, with the lowest EPS estimate coming in at ($0.35) and the highest estimate coming in at ($0.13). Cincinnati Bell posted earnings per share of ($0.19) in the same quarter last year, which suggests a negative year over year growth rate of 36.8%. The company is scheduled to report its next earnings report on Wednesday, August 14th.
According to Zacks, analysts expect that Cincinnati Bell will report full year earnings of ($1.22) per share for the current year, with EPS estimates ranging from ($1.35) to ($1.01). For the next financial year, analysts expect that the company will report earnings of ($0.88) per share, with EPS estimates ranging from ($1.28) to ($0.63). Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last announced its earnings results on Wednesday, May 8th. The utilities provider reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.26). The company had revenue of $379.60 million during the quarter, compared to analysts’ expectations of $382.99 million. During the same period last year, the firm posted ($0.19) EPS. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year.
In other news, CFO Andrew R. Kaiser purchased 4,300 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was purchased at an average price of $6.93 per share, with a total value 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 purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Christopher J. Wilson purchased 6,628 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $6.70 per share, with a total value of $44,407.60. Following 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 corporate insiders.
A number of institutional investors have recently bought and sold shares of CBB. Texas Permanent School Fund raised its holdings in shares of Cincinnati Bell by 4.0% in the 4th quarter. Texas Permanent School Fund now owns 32,828 shares of the utilities provider’s stock worth $255,000 after buying an additional 1,269 shares in the last quarter. Laurion Capital Management LP raised its holdings in shares of Cincinnati Bell by 4.3% in the 1st quarter. Laurion Capital Management LP now owns 40,014 shares of the utilities provider’s stock worth $382,000 after buying an additional 1,642 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of Cincinnati Bell by 1.6% in the 4th quarter. California Public Employees Retirement System now owns 128,862 shares of the utilities provider’s stock worth $1,003,000 after buying an additional 1,971 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Cincinnati Bell by 0.6% in the 4th quarter. Principal Financial Group Inc. now owns 407,282 shares of the utilities provider’s stock worth $3,169,000 after buying an additional 2,295 shares in the last quarter. Finally, Mackay Shields LLC raised its holdings in shares of Cincinnati Bell by 7.3% in the 4th quarter. Mackay Shields LLC now owns 48,499 shares of the utilities provider’s stock worth $378,000 after buying an additional 3,307 shares in the last quarter. 95.00% of the stock is owned by hedge funds and other institutional investors.
NYSE:CBB traded up $0.05 during mid-day trading on Wednesday, hitting $4.70. 445,800 shares of the company’s stock traded hands, compared to its average volume of 414,525. The firm’s 50 day moving average price is $5.72. Cincinnati Bell has a 12 month low of $4.49 and a 12 month high of $16.23. The company has a market capitalization of $235.21 million, a price-to-earnings ratio of -4.23 and a beta of 1.44.
About Cincinnati Bell
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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