Cincinnati Bell Inc. (NYSE:CBB) – Gabelli lowered their FY2019 earnings estimates for Cincinnati Bell in a research note issued on Thursday. Gabelli analyst S. Dluzhevskiy now anticipates that the brokerage will post earnings per share of $0.15 for the year, down from their prior forecast of $0.25. Gabelli has a “Buy” rating on the stock.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.35. The firm earned $299 million during the quarter, compared to analysts’ expectations of $295.79 million. Cincinnati Bell had a net margin of 16.78% and a negative return on equity of 5.73%. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share.
Several other equities research analysts have also recently weighed in on CBB. Bank of America Corp. set a $16.25 price objective on shares of Cincinnati Bell and gave the stock a “sell” rating in a research report on Wednesday, August 3rd. Raymond James Financial Inc. reaffirmed a “market perform” rating on shares of Cincinnati Bell in a research report on Monday, August 8th. Finally, Zacks Investment Research cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Monday, August 29th.
Shares of Cincinnati Bell (NYSE:CBB) traded down 1.31% on Friday, reaching $19.53. 179,193 shares of the company were exchanged. The company’s 50-day moving average price is $20.59 and its 200 day moving average price is $20.82. Cincinnati Bell has a 12 month low of $14.00 and a 12 month high of $25.65. The company has a market cap of $820.92 million, a price-to-earnings ratio of 4.41 and a beta of 1.60.
Hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Fund Advisors raised its position 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 position 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 position 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 position 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 position 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 and hedge funds own 79.60% of the company’s stock.
In other news, VP Christopher J. Wilson sold 30,000 shares of the stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the transaction, the vice president now owns 74,457 shares of the company’s stock, valued at $275,490.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is currently owned by insiders.
About Cincinnati Bell