Zacks: Analysts Expect Cincinnati Bell Inc. (CBB) Will Announce Quarterly Sales of $299.52 Million

Analysts forecast that Cincinnati Bell Inc. (NYSE:CBB) will post $299.52 million in sales for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for Cincinnati Bell’s earnings, with the highest sales estimate coming in at $307.8 million and the lowest estimate coming in at $294.8 million. Cincinnati Bell posted sales of $299.2 million during the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The company is scheduled to announce its next earnings results on Thursday, August 3rd.

According to Zacks, analysts expect that Cincinnati Bell will report full-year sales of $299.52 million for the current financial year, with estimates ranging from $1.19 billion to $1.2 billion. For the next year, analysts expect that the firm will post sales of $1.23 billion per share, with estimates ranging from $1.21 billion to $1.28 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Cincinnati Bell.

Cincinnati Bell (NYSE:CBB) last released its quarterly earnings data on Tuesday, May 9th. The utilities provider reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.59 by $0.60. The firm had revenue of $278 million for the quarter, compared to the consensus estimate of $291.68 million. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.02 EPS.

Cincinnati Bell (NYSE:CBB) traded up 0.61% during midday trading on Wednesday, hitting $16.55. The stock had a trading volume of 29,652 shares. The company has a market cap of $697.22 million, a P/E ratio of 7.60 and a beta of 1.77. The firm’s 50-day moving average price is $18.14 and its 200 day moving average price is $20.18. Cincinnati Bell has a 12 month low of $16.20 and a 12 month high of $25.65.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nationwide Fund Advisors raised its position in Cincinnati Bell by 50.7% in the first quarter. Nationwide Fund Advisors now owns 73,070 shares of the utilities provider’s stock worth $1,293,000 after buying an additional 24,592 shares during the period. Louisiana State Employees Retirement System raised its position in Cincinnati Bell by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,180 shares of the utilities provider’s stock worth $304,000 after buying an additional 300 shares during the period. Norges Bank bought a new position in Cincinnati Bell during the fourth quarter worth $4,150,000. Kettle Hill Capital Management LLC bought a new position in Cincinnati Bell during the fourth quarter worth $2,199,000. Finally, SECOR Capital Advisors LP raised its position in Cincinnati Bell by 8.0% in the third quarter. SECOR Capital Advisors LP now owns 117,210 shares of the utilities provider’s stock worth $478,000 after buying an additional 8,673 shares during the period.

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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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