Cincinnati Bell Inc. (CBB) Sees Strong Trading Volume
Cincinnati Bell Inc. (NYSE:CBB) saw strong trading volume on Thursday . 1,733,847 shares were traded during trading, an increase of 69% from the previous session’s volume of 1,023,885 shares.The stock last traded at $4.67 and had previously closed at $4.78.
Several equities research analysts have issued reports on the stock. Gabelli downgraded shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. 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 note on Monday, April 25th. Finally, Bank of America Corp. reiterated a “sell” rating and set a $3.25 price objective on shares of Cincinnati Bell in a research note on Wednesday, May 4th.
The stock has a market capitalization of $980.98 million and a price-to-earnings ratio of 3.28. The firm’s 50-day moving average is $4.42 and its 200 day moving average is $3.76.
Cincinnati Bell (NYSE:CBB) last announced its earnings results on Thursday, May 5th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.03 by $0.01. The business had revenue of $289 million for the quarter, compared to the consensus estimate of $295.04 million. During the same period last year, the firm posted ($0.01) EPS. Cincinnati Bell’s revenue for the quarter was down 1.1% on a year-over-year basis. Analysts anticipate that Cincinnati Bell Inc. will post $0.06 EPS for the current fiscal year.
A hedge fund recently raised its stake in Cincinnati Bell stock. Rhumbline Advisers boosted its stake in Cincinnati Bell Inc. (NYSE:CBB) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 336,816 shares of the company’s stock after buying an additional 5,935 shares during the period. Rhumbline Advisers owned 0.16% of Cincinnati Bell worth $1,213,000 at the end of the most recent reporting period.
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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