Cincinnati Bell Inc. (CBB) Reaches New 12-Month High at $5.00
Shares of Cincinnati Bell Inc. (NYSE:CBB) hit a new 52-week high during trading on Thursday . The company traded as high as $5.00 and last traded at $4.96, with a volume of 262,209 shares changing hands. The stock had previously closed at $4.91.
A number of brokerages have commented on CBB. Zacks Investment Research raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research report on Monday, April 25th. Bank of America Corp. reaffirmed a “sell” rating and set a $3.25 price target on shares of Cincinnati Bell in a research report on Wednesday, May 4th. Finally, Gabelli cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday.
The company has a market cap of $1.05 billion and a P/E ratio of 3.52. The stock has a 50-day moving average price of $4.31 and a 200-day moving average price of $3.72.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.01. The firm had revenue of $289 million for the quarter, compared to analysts’ expectations of $295.04 million. The business’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.01) EPS. Equities analysts forecast that Cincinnati Bell Inc. will post $0.06 earnings per share for the current fiscal year.
An institutional investor recently raised its position in Cincinnati Bell stock. Rhumbline Advisers increased its stake 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 institutional investor 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 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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