Cincinnati Bell (NYSE:CBB) released its earnings results on Wednesday, May 8th. The utilities provider reported ($0.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.22) by ($0.26), MarketWatch Earnings reports. The company had revenue of $379.60 million during the quarter, compared to analyst estimates of $382.99 million. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.19) EPS. Cincinnati Bell updated its FY 2019 guidance to EPS.
Shares of Cincinnati Bell stock traded down $0.37 on Friday, hitting $6.40. The stock had a trading volume of 668,112 shares, compared to its average volume of 389,317. The company has a market capitalization of $333.45 million, a price-to-earnings ratio of -5.77 and a beta of 1.57. Cincinnati Bell has a twelve month low of $6.33 and a twelve month high of $17.60.
In other Cincinnati Bell news, VP Christopher J. Wilson bought 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, for a total transaction of $44,407.60. Following the completion of the purchase, the vice president now directly owns 90,285 shares of the company’s stock, valued at $604,909.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Andrew R. Kaiser bought 4,300 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were acquired at an average price of $6.93 per share, with a total value of $29,799.00. Following the completion of the purchase, the chief financial officer now directly owns 62,354 shares of the company’s stock, valued at $432,113.22. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.
A number of brokerages have weighed in on CBB. ValuEngine raised Cincinnati Bell from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Morgan Stanley raised Cincinnati Bell from an “underweight” rating to an “equal weight” rating and set a $10.00 target price on the stock in a research report on Friday, February 15th.
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, 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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