Cincinnati Bell Inc. (CBB) Sees Unusually-High Trading Volume
Cincinnati Bell Inc. (NYSE:CBB) shares saw an uptick in trading volume on Thursday . 1,381,692 shares changed hands during 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.
Several research firms recently issued reports on CBB. Zacks Investment Research lowered Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Cincinnati Bell in a research report on Monday, August 8th. Bank of America Corp. set a $3.25 price target on Cincinnati Bell and gave the company a “sell” rating in a research report on Wednesday, August 3rd. Finally, Gabelli downgraded Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th.
The company has a market capitalization of $897.44 million and a PE ratio of 4.82. The company has a 50-day moving average price of $4.59 and a 200 day moving average price of $4.06. Shares of Cincinnati Bell are going to reverse split before the market opens 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 released its earnings results on Thursday, August 4th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.35. The business earned $299 million during the quarter, compared to analyst estimates of $295.79 million. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. Analysts anticipate that Cincinnati Bell Inc. will post $0.06 earnings per share for the current year.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the sale, the vice president now owns 74,457 shares of the company’s stock, valued at approximately $275,490.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
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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