Cincinnati Bell Inc. (CBB) Trading Up 1.7%
Cincinnati Bell Inc. (NYSE:CBB) was 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 changing hands. The stock had previously closed at $4.16.
A number of equities research analysts have recently issued reports on CBB shares. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Raymond James Financial Inc. restated a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Zacks Investment Research lowered shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Finally, Bank of America Corp. set a $3.25 target price on shares of Cincinnati Bell and gave the company a “sell” rating in a research note on Wednesday, August 3rd.
The firm has a 50 day moving average of $4.68 and a 200-day moving average of $4.03. The firm has a market cap of $876.42 million and a PE ratio of 4.71.
Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.35. During the same quarter last year, the company earned $0.01 EPS. The business had revenue of $299 million for the quarter, compared to analyst estimates of $295.79 million. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. Equities research analysts expect that Cincinnati Bell Inc. will post $0.06 EPS for the current year.
In other news, VP Christopher J. Wilson sold 30,000 shares of the stock in a transaction on Monday, August 8th. The shares were sold at an average price of $3.70, for a total transaction of $111,000.00. Following the transaction, the vice president now owns 74,457 shares in the company, valued at approximately $275,490.90. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.
An institutional investor recently raised its position 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 filing with the Securities and Exchange Commission (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 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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