Drexel Hamilton Begins Coverage on Cincinnati Bell Inc. (CBB)
Drexel Hamilton assumed coverage on shares of Cincinnati Bell Inc. (NYSE:CBB) in a research report report published on Wednesday morning. The firm issued a buy rating and a $25.00 price target on the stock.
CBB has been the subject of several other research reports. Gabelli raised shares of Cincinnati Bell from a hold rating to a buy rating in a report on Thursday, October 6th. Raymond James Financial Inc. reissued a market perform rating on shares of Cincinnati Bell in a report on Monday, August 8th. Zacks Investment Research lowered shares of Cincinnati Bell from a buy rating to a hold rating in a report on Monday, August 29th. Finally, Bank of America Corp. set a $16.25 price target on shares of Cincinnati Bell and gave the company a sell rating in a report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $21.25.
Cincinnati Bell (NYSE:CBB) opened at 22.05 on Wednesday. The firm’s 50-day moving average price is $19.54 and its 200 day moving average price is $20.95. Cincinnati Bell has a 12-month low of $14.00 and a 12-month high of $25.65. The company has a market capitalization of $926.65 million, a price-to-earnings ratio of 7.44 and a beta of 1.83.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Wednesday, November 2nd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.33. Cincinnati Bell had a net margin of 11.43% and a negative return on equity of 4.95%. The firm earned $312.40 million during the quarter, compared to analyst estimates of $300.03 million. During the same quarter in the previous year, the business earned $0.37 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. On average, equities research analysts expect that Cincinnati Bell will post $0.23 EPS for the current fiscal year.
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Institutional investors have recently made changes to their positions in the company. BlackRock Group LTD raised its position in shares of Cincinnati Bell by 8.2% in the first quarter. BlackRock Group LTD now owns 339,137 shares of the company’s stock worth $1,314,000 after buying an additional 25,775 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Cincinnati Bell by 0.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 5,445,122 shares of the company’s stock worth $21,073,000 after buying an additional 42,629 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Cincinnati Bell by 100.4% in the second quarter. BNP Paribas Arbitrage SA now owns 74,367 shares of the company’s stock worth $340,000 after buying an additional 37,266 shares during the last quarter. First Quadrant L P CA raised its position in shares of Cincinnati Bell by 31.7% in the second quarter. First Quadrant L P CA now owns 311,600 shares of the company’s stock worth $1,424,000 after buying an additional 75,000 shares during the last quarter. Finally, New York State Teachers Retirement System raised its position in shares of Cincinnati Bell by 5.2% in the second quarter. New York State Teachers Retirement System now owns 676,758 shares of the company’s stock worth $3,093,000 after buying an additional 33,200 shares during the last quarter.
About Cincinnati Bell
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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