Cbeyond Inc. Reaches New 12-Month Low at $6.26 (CBEY)
Cbeyond (NASDAQ:CBEY)’s share price reached a new 52-week low during trading hours on Monday, American Banking News reports. The company traded as low as $6.26 and last traded at $6.26, with a volume of 384,075 shares traded. The stock had previously closed at $6.66.
Several analysts have recently commented on the stock. Analysts at FBR & Co. downgraded shares of Cbeyond (NASDAQ:CBEY) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, August 2nd. Separately, analysts at FBR Capital Markets downgraded shares of Cbeyond (NASDAQ:CBEY) from an “outperform” rating to a “market perform” rating in a research note to investors on Friday, August 2nd. They now have a $8.00 price target on the stock, down previously from $10.00. Finally, analysts at Jefferies Group cut their price target on shares of Cbeyond (NASDAQ:CBEY) from $9.00 to $8.00 in a research note to investors on Thursday, August 1st. They now have a “hold” rating on the stock.
One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.54.
Cbeyond has a 52 week low of $6.15 and a 52 week high of $10.19. The stock’s 50-day moving average is $6.86 and its 200-day moving average is $7.82. The company’s market cap is $188.5 million.
Cbeyond (NASDAQ:CBEY) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.09 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.05) by $0.14. The company had revenue of $118.20 million for the quarter, compared to the consensus estimate of $119.53 million. During the same quarter last year, the company posted $0.09 earnings per share. Cbeyond’s revenue was down 4.5% compared to the same quarter last year. Analysts expect that Cbeyond will post $-0.23 EPS for the current fiscal year.
Cbeyond, Inc provides integrated communications services. The Company offers an integrated package of local and long distance telephony services, T-1 Internet access and Internet-based applications to small and medium sized businesses.
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