Cincinnati Bell Inc (NYSE:CBB) – Research analysts at Gabelli boosted their FY2019 EPS estimates for Cincinnati Bell in a note issued to investors on Tuesday. Gabelli analyst S. Dluzhevskiy now forecasts that the utilities provider will post earnings per share of $0.40 for the year, up from their previous forecast of $0.35. Gabelli currently has a “Hold” rating on the stock. Gabelli also issued estimates for Cincinnati Bell’s FY2020 earnings at $0.55 EPS and FY2021 earnings at $0.70 EPS.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The firm had revenue of $294 million during the quarter, compared to analyst estimates of $284.28 million. Cincinnati Bell had a negative return on equity of 3.87% and a net margin of 6.84%. Cincinnati Bell’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.04 EPS. TRADEMARK VIOLATION WARNING: This piece was posted by BNB Daily and is the sole property of of BNB Daily. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.baseball-news-blog.com/2017/08/19/gabelli-analysts-raise-earnings-estimates-for-cincinnati-bell-inc-cbb-updated.html.
Several other brokerages have also recently issued reports on CBB. Morgan Stanley reissued an “equal weight” rating and set a $22.00 target price (down previously from $25.00) on shares of Cincinnati Bell in a report on Wednesday, June 14th. BidaskClub raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating in a report on Monday, July 31st. Finally, ValuEngine cut shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.50.
Cincinnati Bell (NYSE:CBB) traded up 0.23% during midday trading on Wednesday, hitting $21.50. The stock had a trading volume of 175,613 shares. Cincinnati Bell has a 52-week low of $16.05 and a 52-week high of $24.45. The firm has a market capitalization of $905.88 million, a P/E ratio of 6.23 and a beta of 1.66. The firm has a 50-day moving average of $18.54 and a 200 day moving average of $18.92.
Several hedge funds and other institutional investors have recently modified their holdings of CBB. Mason Street Advisors LLC boosted its position in shares of Cincinnati Bell by 7.3% in the first quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock valued at $174,000 after buying an additional 668 shares during the period. State of Tennessee Treasury Department boosted its position in shares of Cincinnati Bell by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 39,368 shares of the utilities provider’s stock valued at $697,000 after buying an additional 5,941 shares during the period. Ameriprise Financial Inc. boosted its position in shares of Cincinnati Bell by 6.4% in the first quarter. Ameriprise Financial Inc. now owns 232,924 shares of the utilities provider’s stock valued at $4,123,000 after buying an additional 13,983 shares during the period. Karp Capital Management Corp purchased a new position in Cincinnati Bell during the first quarter worth $231,000. Finally, Comerica Bank boosted its position in Cincinnati Bell by 3.9% in the first quarter. Comerica Bank now owns 46,512 shares of the utilities provider’s stock worth $891,000 after buying an additional 1,735 shares during the last quarter. 82.43% of the stock is owned by hedge funds and other institutional investors.
Cincinnati Bell Company Profile
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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