Zacks: Brokerages Anticipate Cincinnati Bell Inc. (CBB) to Announce -$0.21 Earnings Per Share

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Equities analysts expect Cincinnati Bell Inc. (NYSE:CBB) to report earnings of ($0.21) per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cincinnati Bell’s earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.23). Cincinnati Bell reported earnings of ($0.19) per share in the same quarter last year, which would indicate a negative year over year growth rate of 10.5%. The company is expected to report its next earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Cincinnati Bell will report full-year earnings of ($0.55) per share for the current financial year, with EPS estimates ranging from ($0.77) to ($0.14). For the next year, analysts forecast that the company will report earnings of ($0.73) per share, with EPS estimates ranging from ($0.77) to ($0.69). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last announced its earnings results on Thursday, February 14th. The utilities provider reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.41). The company had revenue of $399.00 million during the quarter, compared to analysts’ expectations of $391.49 million. The firm’s revenue for the quarter was up 32.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.34) earnings per share.

Several analysts have commented on CBB shares. ValuEngine downgraded Cincinnati Bell from a “hold” rating to a “sell” rating in a research note on Wednesday, January 2nd. Morgan Stanley raised Cincinnati Bell from an “underweight” rating to an “equal weight” rating and set a $10.00 target price for the company in a research note on Friday, February 15th.

CBB traded down $0.33 on Wednesday, hitting $10.00. 4,545 shares of the company traded hands, compared to its average volume of 299,575. The company has a market cap of $511.43 million, a PE ratio of -9.03 and a beta of 1.62. Cincinnati Bell has a 12-month low of $6.60 and a 12-month high of $17.60.

Several hedge funds have recently modified their holdings of CBB. BlackRock Inc. raised its stake in shares of Cincinnati Bell by 17.6% during the 3rd quarter. BlackRock Inc. now owns 7,216,011 shares of the utilities provider’s stock worth $115,095,000 after buying an additional 1,080,925 shares in the last quarter. Raging Capital Management LLC purchased a new position in shares of Cincinnati Bell during the 4th quarter worth approximately $7,300,000. Vanguard Group Inc raised its stake in shares of Cincinnati Bell by 13.5% during the 3rd quarter. Vanguard Group Inc now owns 5,085,721 shares of the utilities provider’s stock worth $81,117,000 after buying an additional 604,538 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cincinnati Bell by 13.5% during the 3rd quarter. Vanguard Group Inc. now owns 5,085,721 shares of the utilities provider’s stock worth $81,117,000 after buying an additional 604,538 shares in the last quarter. Finally, Brookfield Asset Management Inc. raised its stake in shares of Cincinnati Bell by 18.1% during the 3rd quarter. Brookfield Asset Management Inc. now owns 2,389,118 shares of the utilities provider’s stock worth $38,106,000 after buying an additional 366,862 shares in the last quarter. 94.41% of the stock is owned by institutional investors and hedge funds.

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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