Cincinnati Bell Inc. (CBB) Hits New 1-Year High at $5.00
Cincinnati Bell Inc. (NYSE:CBB) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $5.00 and last traded at $4.96, with a volume of 262,209 shares traded. The stock had previously closed at $4.91.
CBB has been the topic of several research reports. Zacks Investment Research upgraded shares of Cincinnati Bell from a “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Monday, April 25th. Gabelli cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America Corp. restated a “sell” rating and issued a $3.25 target price on shares of Cincinnati Bell in a report on Wednesday, May 4th.
The company’s 50 day moving average is $4.26 and its 200 day moving average is $3.71. The stock has a market cap of $1.05 billion and a PE ratio of 3.50.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.03 by $0.01. During the same quarter in the previous year, the company posted ($0.01) earnings per share. The business had revenue of $289 million for the quarter, compared to the consensus estimate of $295.04 million. The company’s revenue was down 1.1% compared to the same quarter last year. Analysts anticipate that Cincinnati Bell Inc. will post $0.19 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cincinnati Bell stock. Dimensional Fund Advisors LP increased its stake in Cincinnati Bell Inc. (NYSE:CBB) by 2.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,034,533 shares of the company’s stock after buying an additional 153,328 shares during the period. Dimensional Fund Advisors LP owned about 3.35% of Cincinnati Bell worth $25,324,000 at the end of the most recent 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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