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.
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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