Cincinnati Bell Inc. (CBB) Expected to Announce Earnings of -$0.19 Per Share

Analysts expect that Cincinnati Bell Inc. (NYSE:CBB) will post ($0.19) earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have provided estimates for Cincinnati Bell’s earnings. The lowest EPS estimate is ($0.20) and the highest is ($0.17). Cincinnati Bell also posted earnings of ($0.19) per share in the same quarter last year. The business is expected to report its next earnings report on Wednesday, August 14th.

On average, analysts expect that Cincinnati Bell will report full-year earnings of ($0.68) per share for the current financial year, with EPS estimates ranging from ($0.77) to ($0.57). For the next financial year, analysts forecast that the business will post earnings of ($0.57) per share, with EPS estimates ranging from ($0.77) to ($0.38). Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Wednesday, May 8th. The utilities provider reported ($0.48) EPS for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.26). The business had revenue of $379.60 million for the quarter, compared to analysts’ expectations of $382.99 million. The firm’s revenue for the quarter was up 28.4% on a year-over-year basis. During the same period last year, the company posted ($0.19) EPS.

A number of brokerages have commented on CBB. ValuEngine upgraded shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Morgan Stanley upgraded shares of Cincinnati Bell from an “underweight” rating to an “equal weight” rating and set a $10.00 price target for the company in a research note on Friday, February 15th.

A number of institutional investors and hedge funds have recently made changes to their positions in CBB. Meeder Asset Management Inc. raised its stake in shares of Cincinnati Bell by 333.2% in the fourth quarter. Meeder Asset Management Inc. now owns 6,078 shares of the utilities provider’s stock valued at $48,000 after acquiring an additional 4,675 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Cincinnati Bell by 466.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,614 shares of the utilities provider’s stock valued at $101,000 after acquiring an additional 8,741 shares during the last quarter. Seven Post Investment Office LP bought a new position in shares of Cincinnati Bell in the fourth quarter valued at approximately $109,000. Metropolitan Life Insurance Co. NY raised its stake in shares of Cincinnati Bell by 323.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,060 shares of the utilities provider’s stock valued at $109,000 after acquiring an additional 10,740 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new position in shares of Cincinnati Bell in the fourth quarter valued at approximately $113,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.

CBB traded down $0.09 during midday trading on Thursday, reaching $7.78. 18,155 shares of the company’s stock were exchanged, compared to its average volume of 388,918. The stock has a market cap of $396.16 million, a price-to-earnings ratio of -7.23 and a beta of 1.57. Cincinnati Bell has a one year low of $6.60 and a one year high of $17.60.

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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Earnings History and Estimates for Cincinnati Bell (NYSE:CBB)

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