Shares of Cincinnati Bell Inc (NYSE:CBB) have earned a consensus rating of “Hold” from the eight research firms that are currently covering the stock, Marketbeat reports. Three analysts have rated the stock with a sell recommendation, four have given a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $23.50.
A number of equities research analysts have issued reports on CBB shares. BidaskClub upgraded shares of 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 issued a $22.00 target price (down previously from $25.00) on shares of Cincinnati Bell in a research report on Wednesday, June 14th. ValuEngine upgraded shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Gabelli downgraded shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th.
Shares of Cincinnati Bell (NYSE:CBB) opened at 19.30 on Wednesday. The stock’s 50 day moving average is $20.35 and its 200 day moving average is $18.70. Cincinnati Bell has a 52 week low of $16.05 and a 52 week high of $24.45. The stock has a market capitalization of $813.98 million, a PE ratio of 11.77 and a beta of 1.59.
Cincinnati Bell (NYSE:CBB) last released its earnings results on Friday, August 4th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.07. Cincinnati Bell had a net margin of 6.84% and a negative return on equity of 3.87%. The company had revenue of $294.00 million during the quarter, compared to the consensus estimate of $284.28 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. Analysts anticipate that Cincinnati Bell will post $1.36 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its position in Cincinnati Bell by 58,412.1% in the 1st quarter. BlackRock Inc. now owns 6,270,745 shares of the utilities provider’s stock worth $110,992,000 after buying an additional 6,260,028 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cincinnati Bell by 4.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,597,132 shares of the utilities provider’s stock worth $31,224,000 after purchasing an additional 62,600 shares during the last quarter. FMR LLC increased its stake in shares of Cincinnati Bell by 80.7% during the 1st quarter. FMR LLC now owns 1,423,672 shares of the utilities provider’s stock worth $25,199,000 after purchasing an additional 635,900 shares during the last quarter. State Street Corp increased its stake in shares of Cincinnati Bell by 4.0% during the 2nd quarter. State Street Corp now owns 1,117,322 shares of the utilities provider’s stock worth $21,837,000 after purchasing an additional 43,375 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. increased its stake in shares of Cincinnati Bell by 44.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,005,813 shares of the utilities provider’s stock worth $19,664,000 after purchasing an additional 307,951 shares during the last quarter. Institutional investors own 85.21% 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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