Today: Today, Drexel Hamilton Initiates Coverage on Cincinnati Bell Inc. (CBB)

Today, Drexel Hamilton Initiates Coverage on Cincinnati Bell Inc. (CBB)

Drexel Hamilton initiated coverage on shares of Cincinnati Bell Inc. (NYSE:CBB) in a research report issued to clients and investors on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.

Other analysts have also issued reports about the stock. Gabelli raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating in a research note on Thursday, October 6th. Zacks Investment Research lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Monday, August 29th. Raymond James Financial Inc. reissued a “market perform” rating on shares of Cincinnati Bell in a research note on Monday, August 8th. Finally, Bank of America Corp. set a $16.25 target price on shares of Cincinnati Bell and gave the company a “sell” rating in a research note on Wednesday, August 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Cincinnati Bell presently has an average rating of “Hold” and an average target price of $19.38.

Shares of Cincinnati Bell (NYSE:CBB) opened at 21.75 on Wednesday. Cincinnati Bell has a 52 week low of $14.00 and a 52 week high of $25.65. The stock’s 50 day moving average is $19.43 and its 200 day moving average is $20.87. The firm has a market cap of $914.04 million, a P/E ratio of 7.34 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, beating the consensus estimate 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 business earned $312.40 million during the quarter, compared to analyst estimates of $300.03 million. During the same period in the prior year, the business earned $0.37 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. On average, equities research analysts predict that Cincinnati Bell will post $0.23 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD raised its stake in 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in 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 valued at $21,073,000 after buying an additional 42,629 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Cincinnati Bell by 100.4% in the second quarter. BNP Paribas Arbitrage SA now owns 74,367 shares of the company’s stock valued at $340,000 after buying an additional 37,266 shares in the last quarter. First Quadrant L P CA raised its position in Cincinnati Bell by 31.7% in the second quarter. First Quadrant L P CA now owns 311,600 shares of the company’s stock valued at $1,424,000 after buying an additional 75,000 shares in the last quarter. Finally, New York State Teachers Retirement System raised its position in 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 valued at $3,093,000 after buying an additional 33,200 shares in the last quarter.

Cincinnati Bell Company Profile

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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