Cincinnati Bell Inc. (CBB) Upgraded by Gabelli to “Buy”
A number of other research analysts have also weighed in on CBB. Raymond James Financial Inc. reaffirmed a market perform rating on shares of Cincinnati Bell in a report on Monday, August 8th. Bank of America Corp. set a $16.25 price objective on Cincinnati Bell and gave the stock a sell rating in a report on Wednesday, August 3rd. Finally, Zacks Investment Research lowered Cincinnati Bell from a buy rating to a hold rating in a report on Monday, August 29th.
Cincinnati Bell (NYSE:CBB) traded down 2.4331% on Thursday, hitting $19.3085. The stock had a trading volume of 63,140 shares. Cincinnati Bell has a one year low of $14.00 and a one year high of $25.65. The stock has a market cap of $811.61 million, a price-to-earnings ratio of 4.3645 and a beta of 1.60. The stock’s 50 day moving average is $20.59 and its 200 day moving average is $20.82.
Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.35. Cincinnati Bell had a negative return on equity of 5.73% and a net margin of 16.78%. The firm had revenue of $299 million for the quarter, compared to analyst estimates of $295.79 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. Cincinnati Bell’s quarterly revenue was up 4.7% on a year-over-year basis. Analysts anticipate that Cincinnati Bell will post $0.30 earnings per share for the current year.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of Cincinnati Bell stock in a transaction on Monday, August 8th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the sale, the vice president now owns 74,457 shares of the company’s stock, valued at approximately $275,490.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.00% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. First Allied Advisory Services Inc. acquired a new stake in shares of Cincinnati Bell during the second quarter valued at $103,000. Guggenheim Capital LLC increased its stake in shares of Cincinnati Bell by 9.7% in the second quarter. Guggenheim Capital LLC now owns 23,553 shares of the company’s stock valued at $108,000 after buying an additional 2,088 shares during the last quarter. Amalgamated Bank increased its stake in shares of Cincinnati Bell by 11.2% in the second quarter. Amalgamated Bank now owns 25,038 shares of the company’s stock valued at $117,000 after buying an additional 2,513 shares during the last quarter. Teacher Retirement System of Texas increased its stake in shares of Cincinnati Bell by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 26,286 shares of the company’s stock valued at $120,000 after buying an additional 3,035 shares during the last quarter. Finally, PineBridge Investments L.P. increased its stake in shares of Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock valued at $121,000 after buying an additional 1,518 shares during the last quarter. 79.60% of the stock is currently owned by hedge funds and other institutional investors.
Cincinnati Bell Company Profile
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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