Brokerages forecast that Cincinnati Bell Inc. (NYSE:CBB) will announce $383.15 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Cincinnati Bell’s earnings. The highest sales estimate is $467.00 million and the lowest is $299.30 million. Cincinnati Bell reported sales of $278.20 million during the same quarter last year, which indicates a positive year-over-year growth rate of 37.7%. The business is scheduled to issue its next earnings report on Tuesday, May 8th.
On average, analysts expect that Cincinnati Bell will report full-year sales of $383.15 million for the current fiscal year. For the next financial year, analysts expect that the company will report sales of $1.67 billion per share, with estimates ranging from $1.22 billion to $1.89 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Cincinnati Bell.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Thursday, February 15th. The utilities provider reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.24). Cincinnati Bell had a net margin of 2.52% and a negative return on equity of 0.62%. The firm had revenue of $427.10 million during the quarter, compared to the consensus estimate of $462.31 million. During the same quarter last year, the firm posted $0.01 earnings per share. Cincinnati Bell’s revenue was up 49.7% compared to the same quarter last year.
Cincinnati Bell (NYSE:CBB) opened at $15.80 on Tuesday. The company has a debt-to-equity ratio of -4.26, a quick ratio of 0.94 and a current ratio of 1.02. Cincinnati Bell has a 12-month low of $14.00 and a 12-month high of $22.20. The stock has a market capitalization of $666.53, a P/E ratio of 27.24 and a beta of 1.45.
In other news, VP Christopher J. Wilson acquired 2,959 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was acquired at an average price of $14.45 per share, for a total transaction of $42,757.55. Following the completion of the acquisition, the vice president now directly owns 51,723 shares in the company, valued at approximately $747,397.35. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Cincinnati Bell in the third quarter valued at $791,000. California Public Employees Retirement System lifted its holdings in shares of Cincinnati Bell by 3.8% in the third quarter. California Public Employees Retirement System now owns 198,047 shares of the utilities provider’s stock valued at $3,931,000 after buying an additional 7,267 shares during the period. First Trust Advisors LP acquired a new stake in shares of Cincinnati Bell in the third quarter valued at $489,000. Dimensional Fund Advisors LP lifted its holdings in shares of Cincinnati Bell by 2.0% in the third quarter. Dimensional Fund Advisors LP now owns 1,628,621 shares of the utilities provider’s stock valued at $32,329,000 after buying an additional 31,489 shares during the period. Finally, BNP Paribas Arbitrage SA lifted its holdings in shares of Cincinnati Bell by 114.6% in the third quarter. BNP Paribas Arbitrage SA now owns 27,653 shares of the utilities provider’s stock valued at $549,000 after buying an additional 14,770 shares during the period. Institutional investors and hedge funds own 83.52% of the company’s stock.
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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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