Cincinnati Bell Inc. (CBB) Sees Strong Trading Volume
Cincinnati Bell Inc. (NYSE:CBB) shares 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.
A number of research firms have recently weighed in on CBB. Bank of America Corp. reissued a “sell” rating and set a $3.25 target price on shares of Cincinnati Bell in a report on Wednesday, May 4th. Zacks Investment Research raised Cincinnati Bell from a “sell” rating to a “hold” rating in a report on Monday, May 16th. Finally, Gabelli downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th.
The firm has a 50 day moving average price of $4.45 and a 200-day moving average price of $3.77. The stock has a market capitalization of $1.04 billion and a P/E ratio of 3.47.
Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Thursday, May 5th. The company reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. During the same period in the prior year, the business earned ($0.01) EPS. The company earned $289 million during the quarter, compared to analyst estimates of $295.04 million. The company’s quarterly revenue was down 1.1% compared to the same quarter last year. On average, analysts forecast 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 raised its position in shares of Cincinnati Bell Inc. (NYSE:CBB) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 336,816 shares of the company’s stock after buying an additional 5,935 shares during the period. Rhumbline Advisers owned approximately 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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