CBB has been the topic of several other reports. Raymond James Financial Inc. restated a market perform rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Bank of America Corp. set a $16.25 price target on Cincinnati Bell and gave the company a sell rating in a research note on Wednesday, August 3rd. Finally, Zacks Investment Research lowered Cincinnati Bell from a buy rating to a hold rating in a research note on Monday, August 29th.
Shares of Cincinnati Bell (NYSE:CBB) traded down 2.4331% during mid-day trading on Thursday, reaching $19.3085. The company’s stock had a trading volume of 63,140 shares. Cincinnati Bell has a 12 month low of $14.00 and a 12 month high of $25.65. The firm has a market capitalization of $811.61 million, a P/E ratio of 4.3645 and a beta of 1.60. The company has a 50 day moving average of $20.59 and a 200-day moving average of $20.82.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the 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 business earned $299 million during the quarter, compared to analysts’ expectations of $295.79 million. During the same quarter in the previous year, the firm earned $0.01 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Cincinnati Bell will post $0.30 EPS for the current year.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the completion of the transaction, the vice president now owns 74,457 shares in the company, valued at approximately $275,490.90. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. First Allied Advisory Services Inc. purchased a new position in Cincinnati Bell during the second quarter worth about $103,000. Guggenheim Capital LLC boosted its position in 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 period. Amalgamated Bank boosted its position in 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 period. Teacher Retirement System of Texas boosted its position in 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 period. Finally, PineBridge Investments L.P. boosted its position in Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock worth $121,000 after buying an additional 1,518 shares during the period. Hedge funds and other institutional investors own 79.60% of the company’s stock.
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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