Cincinnati Bell Inc. (NYSE:CBB) was upgraded by Gabelli from a “hold” rating to a “buy” rating in a report released on Thursday.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded 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 price objective on Cincinnati Bell and gave the company a “sell” rating in a research note on Wednesday, August 3rd.
Shares of Cincinnati Bell (NYSE:CBB) opened at 19.68 on Thursday. 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 $20.53 and its 200-day moving average is $20.83. The stock has a market capitalization of $827.23 million, a price-to-earnings ratio of 4.45 and a beta of 1.60.
Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.36 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.35. Cincinnati Bell had a negative return on equity of 5.73% and a net margin of 16.78%. The firm earned $299 million during the quarter, compared to the consensus estimate of $295.79 million. During the same period in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, analysts anticipate that Cincinnati Bell will post $0.30 earnings per share for the current fiscal year.
In other Cincinnati Bell news, VP Christopher J. Wilson sold 30,000 shares of the firm’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $3.70, for a total value of $111,000.00. Following the completion of the sale, the vice president now directly owns 74,457 shares of the company’s stock, valued at approximately $275,490.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.
Hedge funds have recently modified their holdings of the company. First Allied Advisory Services Inc. acquired a new position in Cincinnati Bell during the second quarter worth $103,000. Guggenheim Capital LLC boosted its position in Cincinnati Bell by 9.7% in the second quarter. Guggenheim Capital LLC now owns 23,553 shares of the company’s stock worth $108,000 after buying an additional 2,088 shares in the last quarter. Amalgamated Bank boosted its position in Cincinnati Bell by 11.2% in the second quarter. Amalgamated Bank now owns 25,038 shares of the company’s stock worth $117,000 after buying an additional 2,513 shares in the last quarter. Teacher Retirement System of Texas boosted its position in Cincinnati Bell by 13.1% in the second quarter. Teacher Retirement System of Texas now owns 26,286 shares of the company’s stock worth $120,000 after buying an additional 3,035 shares in the last quarter. Finally, PineBridge Investments L.P. boosted its position in Cincinnati Bell by 6.0% in the second quarter. PineBridge Investments L.P. now owns 26,640 shares of the company’s stock worth $121,000 after buying an additional 1,518 shares in the last quarter. 79.60% of the stock is owned by institutional investors and hedge funds.
Cincinnati Bell Company Profile