Cincinnati Bell Inc. (CBB) to Post FY2016 Earnings of $0.05 Per Share, Gabelli Forecasts
Cincinnati Bell Inc. (NYSE:CBB) – Equities researchers at Gabelli issued their FY2016 earnings per share (EPS) estimates for Cincinnati Bell in a research report issued on Thursday. Gabelli analyst S. Dluzhevskiy expects that the brokerage will post earnings per share of $0.05 for the year. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for Cincinnati Bell’s FY2019 earnings at $0.05 EPS.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.35. Cincinnati Bell had a negative return on equity of 5.73% and a net margin of 16.78%. The company earned $299 million during the quarter, compared to analysts’ expectations of $295.79 million. During the same period in the prior year, the business earned $0.01 earnings per share. Cincinnati Bell’s revenue for the quarter was up 4.7% compared to the same quarter last year.
CBB has been the subject of a number of other reports. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Cincinnati Bell in a report on Monday, August 8th. Zacks Investment Research lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Finally, Bank of America Corp. set a $3.25 price objective on Cincinnati Bell and gave the company a “sell” rating in a research note on Wednesday, August 3rd.
Shares of Cincinnati Bell (NYSE:CBB) opened at 4.13 on Monday. The firm has a market capitalization of $868.01 million, a price-to-earnings ratio of 4.67 and a beta of 1.60. Cincinnati Bell has a 52 week low of $2.80 and a 52 week high of $5.13. The stock has a 50 day moving average price of $4.15 and a 200-day moving average price of $4.17. Shares of Cincinnati Bell are set to reverse split on Wednesday, October 5th. The 1-5 reverse split was announced on Tuesday, August 2nd. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, October 4th.
In other news, VP Christopher J. Wilson sold 30,000 shares of Cincinnati Bell stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the transaction, the vice president now owns 74,457 shares in the company, valued at $275,490.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in CBB. First Allied Advisory Services Inc. acquired a new position in shares of Cincinnati Bell during the second quarter worth about $103,000. Guggenheim Capital LLC increased its position in shares of Cincinnati Bell by 9.7% in the second quarter. Guggenheim Capital LLC now owns 23,553 shares of the company’s stock worth $108,000 after buying an additional 2,088 shares in the last quarter. Amalgamated Bank increased its position in shares of Cincinnati Bell by 11.2% in the second quarter. Amalgamated Bank now owns 25,038 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Cincinnati Bell by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 26,286 shares of the company’s stock worth $120,000 after buying an additional 3,035 shares in the last quarter. Finally, PineBridge Investments L.P. increased its position in shares of Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock worth $121,000 after buying an additional 1,518 shares in the last quarter. Institutional investors own 79.60% of the company’s stock.
Cincinnati Bell Company Profile
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
Receive News & Stock Ratings for Cincinnati Bell Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell Inc. and related stocks with our FREE daily email newsletter.