Cincinnati Bell Inc. (NYSE:CBB) posted its quarterly earnings results on Tuesday. The utilities provider reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.59 by $0.60. The company had revenue of $278 million during the quarter, compared to analysts’ expectations of $291.68 million. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. Cincinnati Bell’s revenue for the quarter was down 3.8% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share.
Cincinnati Bell (NYSE:CBB) traded up 3.134% during midday trading on Friday, hitting $17.275. The stock had a trading volume of 203,623 shares. Cincinnati Bell has a 12-month low of $16.05 and a 12-month high of $25.65. The stock has a 50-day moving average price of $17.79 and a 200 day moving average price of $20.00. The firm has a market cap of $727.86 million, a P/E ratio of 5.007 and a beta of 1.77.
Several institutional investors have recently added to or reduced their stakes in the company. Princeton Alpha Management LP bought a new position in Cincinnati Bell during the third quarter worth about $112,000. BNP Paribas Arbitrage SA bought a new position in Cincinnati Bell during the first quarter worth about $161,000. Mason Street Advisors LLC raised its position in Cincinnati Bell by 7.3% in the first quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock worth $174,000 after buying an additional 668 shares in the last quarter. Municipal Employees Retirement System of Michigan raised its position in Cincinnati Bell by 0.5% in the third quarter. Municipal Employees Retirement System of Michigan now owns 46,700 shares of the utilities provider’s stock worth $191,000 after buying an additional 210 shares in the last quarter. Finally, Karp Capital Management Corp bought a new position in Cincinnati Bell during the first quarter worth about $231,000.
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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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