Cincinnati Bell Inc (NYSE:CBB) Downgraded to Hold at Gabelli
Cincinnati Bell Inc (NYSE:CBB) was downgraded by research analysts at Gabelli to a “hold” rating in a research report issued on Tuesday.
Several other equities analysts also recently weighed in on the company. BidaskClub upgraded Cincinnati Bell from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Morgan Stanley reiterated an “equal weight” rating and set a $22.00 target price (down from $25.00) on shares of Cincinnati Bell in a research report on Wednesday, June 14th. Finally, ValuEngine downgraded Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. Cincinnati Bell currently has an average rating of “Hold” and an average price target of $23.50.
Shares of Cincinnati Bell (NYSE CBB) traded down 0.92% during mid-day trading on Tuesday, hitting $21.65. The company had a trading volume of 51,544 shares. Cincinnati Bell has a 12 month low of $16.05 and a 12 month high of $25.65. The company has a market cap of $912.20 million, a PE ratio of 6.28 and a beta of 1.66. The firm has a 50-day moving average of $18.49 and a 200-day moving average of $18.91.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Friday, August 4th. The utilities provider reported $0.07 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.07. Cincinnati Bell had a negative return on equity of 3.78% and a net margin of 6.84%. The firm had revenue of $294 million for the quarter, compared to the consensus estimate of $284.28 million. During the same period in the prior year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. On average, analysts expect that Cincinnati Bell will post $0.93 EPS for the current year.
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A number of large investors have recently made changes to their positions in CBB. Norges Bank purchased a new stake in shares of Cincinnati Bell during the fourth quarter valued at approximately $4,150,000. Louisiana State Employees Retirement System raised its stake in shares of Cincinnati Bell by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,180 shares of the utilities provider’s stock valued at $304,000 after buying an additional 300 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Cincinnati Bell by 50.7% in the first quarter. Nationwide Fund Advisors now owns 73,070 shares of the utilities provider’s stock valued at $1,293,000 after buying an additional 24,592 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Cincinnati Bell by 8.9% in the first quarter. Great West Life Assurance Co. Can now owns 57,242 shares of the utilities provider’s stock valued at $1,010,000 after buying an additional 4,661 shares in the last quarter. Finally, First Trust Advisors LP purchased a new stake in shares of Cincinnati Bell during the first quarter valued at approximately $777,000. Institutional investors own 82.43% of the company’s stock.
About Cincinnati Bell
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.
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