Cincinnati Bell Inc. (NYSE:CBB) – Equities researchers at Gabelli issued their FY2016 earnings per share estimates for shares of Cincinnati Bell in a research note issued to investors on Thursday. Gabelli analyst S. Dluzhevskiy expects that the firm will post earnings of $0.05 per share for the year. Gabelli has a “Hold” rating on the stock. Gabelli also issued estimates for Cincinnati Bell’s FY2019 earnings at $0.05 EPS.
Other research analysts have also issued reports about the company. Zacks Investment Research lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Finally, Bank of America Corp. set a $3.25 price objective on Cincinnati Bell and gave the stock a “sell” rating in a research note on Wednesday, August 3rd.
Shares of Cincinnati Bell (NYSE:CBB) opened at 4.13 on Monday. The firm has a market cap of $868.01 million, a P/E ratio of 4.67 and a beta of 1.60. Cincinnati Bell has a 12-month low of $2.80 and a 12-month high of $5.13. The firm’s 50-day moving average price is $4.15 and its 200 day moving average price is $4.17. Cincinnati Bell’s stock is scheduled to reverse split on Wednesday, October 5th. The 1-5 reverse split was announced on Tuesday, August 2nd. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, October 4th.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.35. The firm had revenue of $299 million for the quarter, compared to the consensus estimate of $295.79 million. Cincinnati Bell had a negative return on equity of 5.73% and a net margin of 16.78%. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.01 EPS.
In other news, VP Christopher J. Wilson sold 30,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the sale, the vice president now directly owns 74,457 shares in the company, valued at $275,490.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.00% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the stock. BlackRock Fund Advisors raised its stake in shares of Cincinnati Bell by 13.6% in the second quarter. BlackRock Fund Advisors now owns 20,393,608 shares of the company’s stock worth $93,199,000 after buying an additional 2,437,077 shares during the period. Vanguard Group Inc. raised its stake in shares of Cincinnati Bell by 5.9% in the second quarter. Vanguard Group Inc. now owns 27,927,150 shares of the company’s stock worth $127,627,000 after buying an additional 1,550,709 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Cincinnati Bell by 97.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,232,076 shares of the company’s stock worth $4,768,000 after buying an additional 608,583 shares during the period. TFS Capital LLC raised its stake in shares of Cincinnati Bell by 716.0% in the second quarter. TFS Capital LLC now owns 296,184 shares of the company’s stock worth $1,354,000 after buying an additional 259,887 shares during the period. Finally, Spark Investment Management LLC raised its stake in shares of Cincinnati Bell by 263.2% in the first quarter. Spark Investment Management LLC now owns 322,500 shares of the company’s stock worth $1,248,000 after buying an additional 233,700 shares during the period. Institutional investors own 79.60% of the company’s stock.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.
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