Brokers Issue Forecasts for Cincinnati Bell Inc.’s FY2019 Earnings (CBB)
Cincinnati Bell Inc. (NYSE:CBB) – Investment analysts at Gabelli dropped their FY2019 earnings per share estimates for shares of Cincinnati Bell in a research note issued to investors on Thursday. Gabelli analyst S. Dluzhevskiy now forecasts that the firm will post earnings of $0.15 per share for the year, down from their previous forecast of $0.25. Gabelli currently has a “Buy” rating on the stock.
CBB has been the subject of a number of other reports. Raymond James Financial Inc. reissued a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Zacks Investment Research lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Finally, Bank of America Corp. set a $16.25 price target on Cincinnati Bell and gave the company a “sell” rating in a report on Wednesday, August 3rd.
Shares of Cincinnati Bell (NYSE:CBB) traded down 0.56% during trading on Friday, hitting $19.68. The company’s stock had a trading volume of 383,119 shares. Cincinnati Bell has a 1-year low of $14.00 and a 1-year high of $25.65. The firm’s 50 day moving average is $20.53 and its 200-day moving average is $20.83. The company has a market capitalization of $827.23 million, a P/E ratio of 4.45 and a beta of 1.60.
Cincinnati Bell (NYSE:CBB) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $299 million for the quarter, compared to analyst estimates of $295.79 million. During the same period in the prior year, the company posted $0.01 EPS. Cincinnati Bell’s quarterly revenue was up 4.7% on a year-over-year basis.
In related news, VP Christopher J. Wilson sold 30,000 shares of the company’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the sale, the vice president now owns 74,457 shares in the company, valued at $275,490.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in CBB. Public Employees Retirement System of Ohio raised its stake in Cincinnati Bell by 2.1% in the second quarter. Public Employees Retirement System of Ohio now owns 32,107 shares of the company’s stock valued at $147,000 after buying an additional 666 shares during the last quarter. ProShare Advisors LLC raised its stake in Cincinnati Bell by 2.4% in the second quarter. ProShare Advisors LLC now owns 61,247 shares of the company’s stock valued at $280,000 after buying an additional 1,432 shares during the last quarter. Arizona State Retirement System raised its stake in Cincinnati Bell by 1.4% in the second quarter. Arizona State Retirement System now owns 109,102 shares of the company’s stock valued at $499,000 after buying an additional 1,500 shares during the last quarter. BlackRock Advisors LLC raised its stake in Cincinnati Bell by 1.5% in the second quarter. BlackRock Advisors LLC now owns 102,790 shares of the company’s stock valued at $470,000 after buying an additional 1,514 shares during the last quarter. Finally, PineBridge Investments L.P. raised its stake in Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock valued at $121,000 after buying an additional 1,518 shares during the last quarter. Institutional investors and hedge funds 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.
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