Brokerages expect Cincinnati Bell Inc. (NYSE:CBB) to post $396.50 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Cincinnati Bell’s earnings. The highest sales estimate is $406.10 million and the lowest is $388.97 million. Cincinnati Bell reported sales of $427.10 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.2%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, February 14th.
On average, analysts expect that Cincinnati Bell will report full year sales of $1.38 billion for the current year, with estimates ranging from $1.37 billion to $1.39 billion. For the next year, analysts expect that the firm will report sales of $1.57 billion, with estimates ranging from $1.54 billion to $1.59 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cincinnati Bell.
Get Cincinnati Bell alerts:Cincinnati Bell (NYSE:CBB) last released its earnings results on Thursday, November 8th. The utilities provider reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.17) by $0.01. The business had revenue of $386.70 million during the quarter, compared to analysts’ expectations of $390.31 million.
Separately, ValuEngine downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. Cincinnati Bell has an average rating of “Hold” and an average price target of $16.33.
Cincinnati Bell stock remained flat at $$8.31 during mid-day trading on Friday. The company had a trading volume of 390,422 shares, compared to its average volume of 316,599. The stock has a market cap of $416.88 million, a P/E ratio of -103.88 and a beta of 1.53. Cincinnati Bell has a 1 year low of $6.60 and a 1 year high of $17.60.
A number of hedge funds have recently added to or reduced their stakes in CBB. BlackRock Inc. raised its stake in shares of Cincinnati Bell by 0.6% during the 4th quarter. BlackRock Inc. now owns 7,257,778 shares of the utilities provider’s stock worth $56,465,000 after purchasing an additional 41,767 shares in the last quarter. California Public Employees Retirement System raised its position in Cincinnati Bell by 1.6% during the fourth quarter. California Public Employees Retirement System now owns 128,862 shares of the utilities provider’s stock valued at $1,003,000 after acquiring an additional 1,971 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new position in Cincinnati Bell during the fourth quarter valued at approximately $148,000. Private Management Group Inc. raised its position in Cincinnati Bell by 40.8% during the fourth quarter. Private Management Group Inc. now owns 995,145 shares of the utilities provider’s stock valued at $7,742,000 after acquiring an additional 288,471 shares in the last quarter. Finally, Shaker Investments LLC OH bought a new position in Cincinnati Bell during the fourth quarter valued at approximately $195,000. Institutional investors own 90.65% of the company’s stock.
Cincinnati Bell Company Profile
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, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.
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