Cincinnati Bell Inc. (CBB) Sets New 12-Month High at $4.72
Cincinnati Bell Inc. (NYSE:CBB)’s share price reached a new 52-week high during trading on Friday . The company traded as high as $4.72 and last traded at $4.69, with a volume of 247,711 shares trading hands. The stock had previously closed at $4.56.
A number of equities analysts have recently commented on CBB shares. Zacks Investment Research upgraded shares of Cincinnati Bell from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Monday, April 25th. Bank of America Corp. restated a “sell” rating and issued a $3.25 price objective on shares of Cincinnati Bell in a research report on Wednesday, May 4th.
The firm’s 50 day moving average price is $4.15 and its 200 day moving average price is $3.68. The company has a market cap of $999.89 million and a price-to-earnings ratio of 3.34.
Cincinnati Bell (NYSE:CBB) last issued its earnings results on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. During the same period last year, the business posted ($0.01) earnings per share. The business earned $289 million during the quarter, compared to analyst estimates of $295.04 million. The business’s revenue was down 1.1% compared to the same quarter last year. On average, analysts anticipate that Cincinnati Bell Inc. will post $0.18 EPS for the current fiscal year.
Several large investors have added to or reduced their stakes in CBB. Rhumbline Advisers raised its stake in Cincinnati Bell by 1.8% in the fourth quarter. Rhumbline Advisers now owns 336,816 shares of the company’s stock valued at $1,213,000 after buying an additional 5,935 shares during the last quarter. Teton Advisors Inc. raised its stake in Cincinnati Bell by 2.2% in the fourth quarter. Teton Advisors Inc. now owns 1,328,115 shares of the company’s stock valued at $4,781,000 after buying an additional 28,067 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Cincinnati Bell by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,034,533 shares of the company’s stock valued at $25,324,000 after buying an additional 153,328 shares during the last quarter. Finally, Numeric Investors LLC raised its stake in Cincinnati Bell by 59.9% in the fourth quarter. Numeric Investors LLC now owns 722,500 shares of the company’s stock valued at $2,601,000 after buying an additional 270,600 shares during the last quarter.
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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