Cincinnati Bell (NYSE:CBB) Stock Price Up 20.4%

Cincinnati Bell Inc. (NYSE:CBB) shares rose 20.4% during trading on Friday . The company traded as high as $4.78 and last traded at $4.73, approximately 1,208,200 shares traded hands during trading. An increase of 172% from the average daily volume of 444,511 shares. The stock had previously closed at $3.93.

CBB has been the subject of a number of recent research reports. ValuEngine upgraded Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Morgan Stanley restated an “equal weight” rating and set a $8.00 price objective (down from $10.00) on shares of Cincinnati Bell in a research note on Friday, June 7th. Finally, UBS Group upgraded Cincinnati Bell from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $11.00 to $7.00 in a research note on Friday, August 9th.

The company has a market cap of $239.50 million, a P/E ratio of -4.26 and a beta of 1.42. The company has a 50 day moving average price of $4.26 and a 200-day moving average price of $7.32.



Cincinnati Bell (NYSE:CBB) last released its quarterly earnings results on Thursday, August 8th. The utilities provider reported ($0.13) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.12. The business had revenue of $384.20 million during the quarter, compared to the consensus estimate of $377.08 million. During the same period in the previous year, the company posted ($0.19) EPS. The company’s revenue for the quarter was up 29.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Cincinnati Bell Inc. will post -1.12 earnings per share for the current year.

In other Cincinnati Bell news, CFO Andrew R. Kaiser purchased 4,300 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $6.93 per share, with a total value of $29,799.00. Following the completion of the purchase, the chief financial officer now owns 62,354 shares in the company, valued at approximately $432,113.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Christopher J. Wilson purchased 6,628 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $6.70 per share, with a total value of $44,407.60. Following the purchase, the vice president now owns 90,285 shares of the company’s stock, valued at approximately $604,909.50. The disclosure for this purchase can be found here. Corporate insiders own 2.40% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Investmentaktiengesellschaft Fuer Langfristige Investoren TGV bought a new position in Cincinnati Bell during the first quarter valued at about $1,717,000. Dimensional Fund Advisors LP boosted its stake in Cincinnati Bell by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,880,058 shares of the utilities provider’s stock valued at $14,627,000 after buying an additional 122,482 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Cincinnati Bell by 2.4% during the first quarter. Gamco Investors INC. ET AL now owns 2,141,523 shares of the utilities provider’s stock valued at $20,430,000 after buying an additional 50,503 shares in the last quarter. Sawtooth Solutions LLC bought a new position in Cincinnati Bell during the first quarter valued at about $167,000. Finally, FMR LLC boosted its stake in Cincinnati Bell by 8.4% during the fourth quarter. FMR LLC now owns 896,972 shares of the utilities provider’s stock valued at $6,978,000 after buying an additional 69,800 shares in the last quarter. 94.97% of the stock is owned by institutional investors.

Cincinnati Bell Company Profile (NYSE:CBB)

Cincinnati Bell Inc, together with its subsidiaries, provides diversified telecommunications and technology services to residential and business customers in the United States. It operates in two segments, Entertainment and Communications, and IT Services and Hardware. The Entertainment and Communications segment offers data services, including high-speed Internet access, data transport, and interconnection services, as well as metro-Ethernet products; and voice local services, as well as long distance, digital trunking, switched access, and other value-added services, such as caller identification, voicemail, call waiting, and call return.

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