Cincinnati Bell Inc. (CBB) Stock Price Up 6.4%
Cincinnati Bell Inc. (NYSE:CBB)’s share price rose 6.4% on Friday . The stock traded as high as $5.01 and last traded at $4.97, with a volume of 785,731 shares changing hands. The stock had previously closed at $4.67.
A number of brokerages recently commented on CBB. Gabelli downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Zacks Investment Research downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, April 26th. Finally, Bank of America Corp. reiterated a “sell” rating and set a $3.25 price objective on shares of Cincinnati Bell in a research report on Wednesday, May 4th.
The company has a market cap of $1.04 billion and a PE ratio of 3.46. The company has a 50-day moving average price of $4.42 and a 200 day moving average price of $3.76.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.02 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. During the same period in the previous year, the company posted ($0.01) earnings per share. The business earned $289 million during the quarter, compared to analysts’ expectations of $295.04 million. The firm’s revenue was down 1.1% compared to the same quarter last year. Analysts forecast that Cincinnati Bell Inc. will post $0.06 EPS for the current year.
A hedge fund recently raised its stake in Cincinnati Bell stock. Rhumbline Advisers raised its stake in Cincinnati Bell Inc. (NYSE:CBB) by 1.8% during the fourth quarter, according to its most recent 13F filing 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 about 0.16% of Cincinnati Bell worth $1,213,000 as of its most recent filing with the SEC.
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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