Cincinnati Bell (CBB) Reaches New 1-Year Low on Disappointing Earnings

Shares of Cincinnati Bell Inc. (NYSE:CBB) hit a new 52-week low on Thursday after the company announced weaker than expected quarterly earnings. The stock traded as low as $14.68 and last traded at $14.75, with a volume of 231602 shares traded. The stock had previously closed at $15.20.

The utilities provider reported ($0.18) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.24). The business had revenue of $427.10 million for the quarter, compared to the consensus estimate of $462.31 million. Cincinnati Bell had a net margin of 4.13% and a negative return on equity of 2.69%. The company’s revenue for the quarter was up 49.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share.

CBB has been the topic of a number of research analyst reports. ValuEngine raised Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Thursday, November 2nd. Morgan Stanley began coverage on Cincinnati Bell in a report on Thursday, November 30th. They issued an “equal weight” rating and a $24.00 target price on the stock.

Hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio lifted its holdings in Cincinnati Bell by 10.3% in the second quarter. Public Employees Retirement System of Ohio now owns 6,511 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 606 shares during the period. SG Americas Securities LLC bought a new position in Cincinnati Bell in the third quarter valued at about $136,000. Douglas Lane & Associates LLC bought a new position in Cincinnati Bell in the fourth quarter valued at about $206,000. Paloma Partners Management Co bought a new position in Cincinnati Bell in the fourth quarter valued at about $239,000. Finally, Quadrature Capital Ltd bought a new position in Cincinnati Bell in the fourth quarter valued at about $250,000. 83.28% of the stock is currently owned by institutional investors.

The company has a debt-to-equity ratio of -4.26, a quick ratio of 0.94 and a current ratio of 1.02. The company has a market capitalization of $658.09, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 41.53 and a beta of 1.45.

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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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