Cincinnati Bell Inc. (CBB) Stock Price Down 1.7%
Cincinnati Bell Inc. (NYSE:CBB) was down 1.7% during trading on Monday . The stock traded as low as $4.60 and last traded at $4.72, with a volume of 393,506 shares trading hands. The stock had previously closed at $4.80.
Several equities research analysts recently commented on CBB shares. Gabelli downgraded 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 “hold” rating to a “buy” rating and set a $4.50 target price on the stock in a report on Monday, April 25th. Bank of America Corp. set a $3.25 target price on Cincinnati Bell and gave the company a “sell” rating in a report on Wednesday, August 3rd. Finally, Raymond James Financial Inc. restated a “market perform” rating on shares of Cincinnati Bell in a report on Monday.
The firm has a market cap of $991.13 million and a P/E ratio of 5.36. The stock has a 50 day moving average of $4.71 and a 200-day moving average of $3.91.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.35. The business had revenue of $299 million for the quarter, compared to analysts’ expectations of $295.79 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts anticipate that Cincinnati Bell Inc. will post $0.11 earnings per share for the current fiscal year.
A hedge fund recently raised its stake in Cincinnati Bell stock. Rhumbline Advisers boosted its position in shares of Cincinnati Bell Inc. (NYSE:CBB) by 1.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 0.16% of Cincinnati Bell worth $1,213,000 at the end of the most recent reporting period.
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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