Cincinnati Bell (NYSE:CBB) Posts Quarterly Earnings Results

Cincinnati Bell (NYSE:CBB) released its quarterly earnings data on Thursday. The utilities provider reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.35), Fidelity Earnings reports. The business had revenue of $390.40 million for the quarter, compared to analyst estimates of $388.57 million. During the same period in the previous year, the business earned ($0.55) earnings per share. The firm’s revenue was down 2.2% on a year-over-year basis.

Shares of CBB traded down $0.20 during midday trading on Friday, hitting $12.83. 380,928 shares of the company traded hands, compared to its average volume of 940,556. The firm has a 50 day moving average of $11.87 and a 200-day moving average of $7.11. Cincinnati Bell has a 52 week low of $3.19 and a 52 week high of $14.01. The stock has a market cap of $655.96 million, a price-to-earnings ratio of -7.46 and a beta of 1.43.

In related news, Director Theodore H. Torbeck sold 15,000 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $13.31, for a total value of $199,650.00. Following the completion of the transaction, the director now owns 285,591 shares of the company’s stock, valued at approximately $3,801,216.21. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Several research analysts have commented on CBB shares. Wells Fargo & Co downgraded shares of Cincinnati Bell from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 2nd. ValuEngine downgraded shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Saturday, December 21st. Goldman Sachs Group downgraded shares of Cincinnati Bell from a “neutral” rating to a “sell” rating in a report on Tuesday, January 7th. Finally, UBS Group downgraded shares of Cincinnati Bell to a “hold” rating and set a $10.50 price objective for the company. in a report on Tuesday, December 24th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The company presently has an average rating of “Hold” and an average target price of $9.25.

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 for Cincinnati Bell (NYSE:CBB)

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