ValuEngine Upgrades Cincinnati Bell (CBB) to “Buy”

Cincinnati Bell (NYSE:CBB) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued on Friday.

Other analysts have also recently issued reports about the company. UBS Group cut Cincinnati Bell from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a research report on Tuesday, July 10th. Wells Fargo & Co boosted their price target on Cincinnati Bell to $15.00 and gave the stock an “outperform” rating in a research report on Thursday, September 6th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Cincinnati Bell has an average rating of “Buy” and a consensus price target of $16.33.

Cincinnati Bell stock traded up $0.46 during trading hours on Friday, hitting $14.77. 289,400 shares of the stock traded hands, compared to its average volume of 443,012. The stock has a market cap of $703.71 million, a price-to-earnings ratio of -184.63 and a beta of 1.16. Cincinnati Bell has a one year low of $9.90 and a one year high of $22.20.

Cincinnati Bell (NYSE:CBB) last posted its quarterly earnings data on Wednesday, August 8th. The utilities provider reported ($0.19) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.07). The business had revenue of $296.80 million during the quarter, compared to analyst estimates of $298.03 million. The business’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, equities analysts forecast that Cincinnati Bell will post -0.99 EPS for the current year.

In other news, Director Phillip R. Cox sold 14,597 shares of the business’s stock in a transaction that occurred on Thursday, August 16th. The stock was sold at an average price of $12.60, for a total value of $183,922.20. Following the sale, the director now directly owns 9,216 shares of the company’s stock, valued at approximately $116,121.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of CBB. Russell Investments Group Ltd. bought a new stake in shares of Cincinnati Bell in the 3rd quarter worth approximately $127,000. Piedmont Investment Advisors LLC bought a new stake in shares of Cincinnati Bell in the 2nd quarter worth approximately $155,000. BNP Paribas Arbitrage SA boosted its position in shares of Cincinnati Bell by 31.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 4,449 shares in the last quarter. Aperio Group LLC boosted its position in shares of Cincinnati Bell by 48.5% in the 2nd quarter. Aperio Group LLC now owns 19,741 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 6,448 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in shares of Cincinnati Bell in the 3rd quarter worth approximately $337,000. 74.38% of the stock is currently owned by hedge funds and other institutional investors.

Cincinnati Bell Company Profile

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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