Legal & General Group Plc Purchases 516 Shares of Cincinnati Bell Inc (CBB)
Legal & General Group Plc boosted its position in shares of Cincinnati Bell Inc (NYSE:CBB) by 0.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 75,836 shares of the utilities provider’s stock after buying an additional 516 shares during the period. Legal & General Group Plc owned 0.18% of Cincinnati Bell worth $1,343,000 at the end of the most recent quarter.
Several other large investors have also recently made changes to their positions in the stock. BNP Paribas Arbitrage SA purchased a new stake in shares of Cincinnati Bell during the first quarter worth $161,000. Mason Street Advisors LLC raised its stake in shares of 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 during the last quarter. Karp Capital Management Corp purchased a new stake in shares of Cincinnati Bell during the first quarter worth $231,000. Clinton Group Inc. purchased a new stake in shares of Cincinnati Bell during the first quarter worth $259,000. Finally, Louisiana State Employees Retirement System raised its stake in shares of Cincinnati Bell by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,180 shares of the utilities provider’s stock worth $304,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.
Cincinnati Bell Inc (NYSE CBB) traded down 0.73% on Friday, hitting $20.50. 277,672 shares of the company were exchanged. Cincinnati Bell Inc has a 52-week low of $16.05 and a 52-week high of $24.45. The firm has a 50 day moving average of $19.24 and a 200-day moving average of $18.83. The stock has a market cap of $864.59 million, a PE ratio of 12.50 and a beta of 1.66.
Cincinnati Bell (NYSE:CBB) last released its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.07 EPS for the quarter, hitting the consensus estimate of $0.07. The business had revenue of $294 million during the quarter, compared to analyst estimates of $284.28 million. Cincinnati Bell had a net margin of 6.84% and a negative return on equity of 3.87%. The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.04 earnings per share. On average, equities analysts expect that Cincinnati Bell Inc will post $1.36 earnings per share for the current fiscal year.
A number of equities research analysts have recently weighed in on the stock. BidaskClub lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Saturday. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Morgan Stanley restated an “equal weight” rating and issued a $22.00 price objective (down from $25.00) on shares of Cincinnati Bell in a report on Wednesday, June 14th. Finally, ValuEngine lowered shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Four research analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $23.50.
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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