Cincinnati Bell Inc. (CBB) Sees Large Volume Increase
Cincinnati Bell Inc. (NYSE:CBB) shares saw unusually-strong trading volume on Thursday . Approximately 1,381,692 shares traded hands during mid-day trading, an increase of 88% from the previous session’s volume of 735,098 shares.The stock last traded at $4.14 and had previously closed at $4.18.
A number of research analysts recently weighed in on CBB shares. Gabelli cut Cincinnati Bell from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Zacks Investment Research upgraded Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Monday, May 16th. Bank of America Corp. set a $3.25 price objective on Cincinnati Bell and gave the stock a “sell” rating in a research note on Wednesday, August 3rd. Finally, Raymond James Financial Inc. restated a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th.
The company has a market cap of $870.12 million and a P/E ratio of 4.68. The company has a 50-day moving average price of $4.61 and a 200 day moving average price of $4.06. Shares of Cincinnati Bell are scheduled to reverse split on Wednesday, October 5th. The 1-5 reverse split was announced on Tuesday, August 2nd. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, October 4th.
Cincinnati Bell (NYSE:CBB) last announced its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.35. During the same period last year, the firm earned $0.01 earnings per share. The firm 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% compared to the same quarter last year. On average, equities analysts expect that Cincinnati Bell Inc. will post $0.06 EPS for the current year.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the business’s 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 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 document filed with the SEC, which is available through the SEC website.
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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