Drexel Hamilton Initiates Coverage on Cincinnati Bell Inc. (CBB)
Equities research analysts at Drexel Hamilton assumed coverage on shares of Cincinnati Bell Inc. (NYSE:CBB) in a research note issued to investors on Wednesday. The firm set a “buy” rating on the stock.
A number of other brokerages have also recently commented on CBB. Bank of America Corp. set a $16.25 target price on Cincinnati Bell and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Gabelli upgraded Cincinnati Bell from a “hold” rating to a “buy” rating in a research report on Thursday, October 6th. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Cincinnati Bell in a research report on Monday, August 8th. Finally, Zacks Investment Research cut Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Cincinnati Bell presently has an average rating of “Hold” and an average price target of $19.38.
Shares of Cincinnati Bell (NYSE:CBB) opened at 21.10 on Wednesday. The stock has a 50 day moving average price of $19.39 and a 200-day moving average price of $20.86. Cincinnati Bell has a 52 week low of $14.00 and a 52 week high of $25.65. The company has a market capitalization of $886.73 million, a PE ratio of 7.12 and a beta of 1.83.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Wednesday, November 2nd. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.33. Cincinnati Bell had a negative return on equity of 4.95% and a net margin of 11.43%. The company had revenue of $312.40 million for the quarter, compared to analysts’ expectations of $300.03 million. During the same quarter last year, the business earned $0.37 earnings per share. Cincinnati Bell’s revenue was up 4.2% on a year-over-year basis. Equities research analysts expect that Cincinnati Bell will post $0.23 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. First Allied Advisory Services Inc. acquired a new position in Cincinnati Bell during the second quarter worth about $103,000. Guggenheim Capital LLC raised 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 worth $108,000 after buying an additional 2,088 shares during the last quarter. Princeton Alpha Management LP purchased a new stake in shares of Cincinnati Bell during the third quarter worth approximately $112,000. Amalgamated Bank raised 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 worth $117,000 after buying an additional 2,513 shares during the last quarter. Finally, Teacher Retirement System of Texas raised 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 worth $120,000 after buying an additional 3,035 shares during the last quarter.
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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