Cincinnati Bell (CBB) Rating Increased to Sell at ValuEngine

Cincinnati Bell (NYSE:CBB) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Monday.

A number of other brokerages have also weighed in on CBB. Morgan Stanley restated an “equal weight” rating on shares of Cincinnati Bell in a report on Saturday, June 2nd. TheStreet lowered shares of Cincinnati Bell from a “c-” rating to a “d+” rating in a report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating and three have assigned a hold rating to the stock. Cincinnati Bell currently has an average rating of “Hold” and a consensus price target of $16.00.

Cincinnati Bell opened at $14.55 on Monday, Marketbeat.com reports. The company has a market cap of $576.60 million, a price-to-earnings ratio of -181.88 and a beta of 1.47. Cincinnati Bell has a 52-week low of $11.65 and a 52-week high of $22.20. The company has a current ratio of 1.94, a quick ratio of 1.82 and a debt-to-equity ratio of -6.71.

Cincinnati Bell (NYSE:CBB) last released its earnings results on Wednesday, May 9th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). The business had revenue of $296.00 million for the quarter, compared to analyst estimates of $296.69 million. Cincinnati Bell had a negative return on equity of 0.61% and a negative net margin of 2.77%. Cincinnati Bell’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. equities analysts expect that Cincinnati Bell will post -0.66 earnings per share for the current fiscal year.

In other news, VP Christopher J. Wilson acquired 2,041 shares of Cincinnati Bell stock in a transaction dated Tuesday, May 29th. The shares were acquired at an average cost of $12.58 per share, for a total transaction of $25,675.78. Following the acquisition, the vice president now owns 53,764 shares of the company’s stock, valued at $676,351.12. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders bought a total of 3,614 shares of company stock worth $46,127 over the last 90 days. Company insiders own 1.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Paloma Partners Management Co acquired a new stake in Cincinnati Bell during the 4th quarter worth $239,000. Quadrature Capital Ltd acquired a new stake in Cincinnati Bell during the 4th quarter worth $250,000. Teacher Retirement System of Texas acquired a new stake in Cincinnati Bell during the 4th quarter worth $273,000. SG Americas Securities LLC raised its stake in Cincinnati Bell by 160.1% during the 4th quarter. SG Americas Securities LLC now owns 17,790 shares of the utilities provider’s stock worth $371,000 after acquiring an additional 10,951 shares in the last quarter. Finally, Element Capital Management LLC acquired a new stake in Cincinnati Bell during the 1st quarter worth $263,000. Hedge funds and other institutional investors own 84.53% of the company’s stock.

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.

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

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