Cincinnati Bell Inc. (CBB) Shares Up 1.7%
Cincinnati Bell Inc. (NYSE:CBB) shares shot up 1.7% during mid-day trading on Thursday . The company traded as high as $4.24 and last traded at $4.23, with a volume of 294,191 shares trading hands. The stock had previously closed at $4.16.
A number of brokerages have issued reports on CBB. Raymond James Financial Inc. reiterated a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Zacks Investment Research lowered Cincinnati Bell from a “hold” rating to a “sell” rating in a report on Friday, May 6th. Bank of America Corp. reissued a “sell” rating and issued a $3.25 target price on shares of Cincinnati Bell in a report on Wednesday, May 4th. Finally, Gabelli lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th.
The firm has a market capitalization of $882.73 million and a price-to-earnings ratio of 4.75. The company has a 50 day moving average price of $4.69 and a 200-day moving average price of $4.02.
Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.35. The company had revenue of $299 million for the quarter, compared to analyst estimates of $295.79 million. Cincinnati Bell’s revenue for the quarter was up 4.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. On average, equities research analysts expect that Cincinnati Bell Inc. will post $0.07 earnings per share for the current year.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $3.70, for a total transaction of $111,000.00. Following the sale, the vice president now directly owns 74,457 shares of the company’s stock, valued at approximately $275,490.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position 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 13F filing with the SEC. The fund 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 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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