Cincinnati Bell Inc. (CBB) Stock Price Up 6.4%
Cincinnati Bell Inc. (NYSE:CBB) shares rose 6.4% during trading on Friday . The stock traded as high as $5.01 and last traded at $4.97, with a volume of 785,731 shares traded. The stock had previously closed at $4.67.
CBB has been the subject of several recent analyst reports. Gabelli cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Zacks Investment Research raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a research note on Monday, April 25th. Finally, Bank of America Corp. reaffirmed a “sell” rating and issued a $3.25 price target on shares of Cincinnati Bell in a research note on Wednesday, May 4th.
The company has a market capitalization of $1.04 billion and a P/E ratio of 3.47. The firm has a 50 day moving average price of $4.45 and a 200 day moving average price of $3.77.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Thursday, May 5th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.01. During the same period in the previous year, the business posted ($0.01) earnings per share. The business had revenue of $289 million for the quarter, compared to analysts’ expectations of $295.04 million. Cincinnati Bell’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts anticipate that Cincinnati Bell Inc. will post $0.06 earnings per share for the current year.
An institutional investor recently raised its position in Cincinnati Bell stock. Rhumbline Advisers raised its position in Cincinnati Bell Inc. (NYSE:CBB) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm 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 at the end of the most recent quarter.
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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