Cincinnati Bell (CBB) Rating Lowered to D+ at TheStreet

TheStreet lowered shares of Cincinnati Bell (NYSE:CBB) from a c- rating to a d+ rating in a research report report published on Wednesday morning.

CBB has been the subject of several other research reports. Morgan Stanley decreased their price objective on Cincinnati Bell from $24.00 to $16.00 and set an equal weight rating for the company in a report on Monday, March 19th. ValuEngine lowered Cincinnati Bell from a hold rating to a sell rating in a report on Friday, February 2nd. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of Hold and an average target price of $16.00.

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NYSE CBB opened at $13.85 on Wednesday. The firm has a market cap of $587.16, a PE ratio of -173.13 and a beta of 1.46. Cincinnati Bell has a one year low of $13.30 and a one year high of $22.20. The company has a current ratio of 1.99, a quick ratio of 1.86 and a debt-to-equity ratio of -6.35.

Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings data on Thursday, February 15th. The utilities provider reported ($0.18) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.24). Cincinnati Bell had a negative return on equity of 0.61% and a net margin of 2.52%. The firm had revenue of $427.10 million during the quarter, compared to analysts’ expectations of $462.31 million. During the same period last year, the business posted $0.01 EPS. The company’s revenue was up 49.7% compared to the same quarter last year. sell-side analysts forecast that Cincinnati Bell will post -0.4 EPS for the current fiscal year.

In other news, CFO Andrew R. Kaiser acquired 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was bought at an average price of $15.90 per share, with a total value of $47,700.00. Following the acquisition, the chief financial officer now owns 24,280 shares in the company, valued at approximately $386,052. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher J. Wilson acquired 2,959 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was purchased at an average cost of $14.45 per share, with a total value of $42,757.55. Following the acquisition, the vice president now owns 51,723 shares in the company, valued at approximately $747,397.35. The disclosure for this purchase can be found here. In the last three months, insiders purchased 7,334 shares of company stock valued at $110,450. 1.40% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the business. Cornerstone Capital Management Holdings LLC. purchased a new position in Cincinnati Bell during the 3rd quarter valued at about $791,000. Kennedy Capital Management Inc. grew its holdings in Cincinnati Bell by 74.2% during the 4th quarter. Kennedy Capital Management Inc. now owns 326,172 shares of the utilities provider’s stock valued at $6,801,000 after buying an additional 138,970 shares in the last quarter. California Public Employees Retirement System grew its holdings in Cincinnati Bell by 3.8% during the 3rd quarter. California Public Employees Retirement System now owns 198,047 shares of the utilities provider’s stock valued at $3,931,000 after buying an additional 7,267 shares in the last quarter. First Trust Advisors LP purchased a new position in Cincinnati Bell during the 3rd quarter valued at about $489,000. Finally, Dimensional Fund Advisors LP grew its holdings in Cincinnati Bell by 2.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,628,621 shares of the utilities provider’s stock valued at $32,329,000 after buying an additional 31,489 shares in the last quarter. 84.14% of the stock is owned by institutional investors and hedge funds.

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About Cincinnati Bell

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, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.

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