Share on StockTwits

Cincinnati Bell (NYSE:CBB)‘s stock had its “neutral” rating restated by Zacks in a research report issued to clients and investors on Friday. They currently have a $4.25 price target on the stock. Zacks‘s target price indicates a potential upside of 3.66% from the stock’s previous close.

Zacks’ analyst wrote, “We believe that Cincinnati Bell is poised to deliver stable financial performance in the months ahead, owing to its investment in strategic products, high speed Internet and strong managed service demand. The company’s Wireline segment stands as the prime growth driver with strength in the Fioptics business from continuous fiber deployment. Further, the acquisition of CyrusOne will support high demand for data center colocation service. However, erosion in local access lines due to fierce competition poses a major roadblock in the company’s growth path. Cincinnati Bell is also winding down its wireless operation amid constant subscriber loss to national carriers, thus removing a recurring revenue stream. Hence, we expect the stock to perform on par with the broader market and adhere to our Neutral recommendation.”

Cincinnati Bell (NYSE:CBB) traded up 1.99% during mid-day trading on Friday, hitting $4.10. 555,139 shares of the company’s stock traded hands. Cincinnati Bell has a 52-week low of $2.62 and a 52-week high of $4.13. The stock has a 50-day moving average of $3.81 and a 200-day moving average of $3.59. The company’s market cap is $857.2 million.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.02 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.02. The company had revenue of $322.50 million for the quarter, compared to the consensus estimate of $303.86 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Analysts expect that Cincinnati Bell will post $0.07 EPS for the current fiscal year.

Cincinnati Bell Inc is a full-service provider of data and voice communications services over wireline and wireless networks, a full-service provider of data center colocation and related managed services, and a reseller of information technology (NYSE:CBB) and telephony equipment.

To view Zacks’ full report, visit Zacks’ official website.

Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.