Cincinnati Bell (CBB) Issues Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Cincinnati Bell (NYSE:CBB) posted its quarterly earnings results on Thursday. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.01, MarketWatch Earnings reports. The business had revenue of $386.70 million during the quarter, compared to analyst estimates of $390.20 million. During the same period last year, the company earned $0.04 EPS. The business’s revenue for the quarter was up 51.4% on a year-over-year basis. Cincinnati Bell updated its FY 2018 guidance to EPS.
NYSE CBB opened at $12.80 on Friday. Cincinnati Bell has a 1-year low of $9.90 and a 1-year high of $22.20.
In other news, Director Phillip R. Cox sold 14,597 shares of the firm’s stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $12.60, for a total transaction of $183,922.20. Following the completion of the sale, the director now owns 9,216 shares of the company’s stock, valued at $116,121.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 1.40% of the company’s stock.
Several research firms recently issued reports on CBB. ValuEngine lowered shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Monday, July 16th. Wells Fargo & Co increased their price target on shares of Cincinnati Bell to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, September 6th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $16.33.
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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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