Cincinnati Bell (CBB) Lifted to “Buy” at ValuEngine

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

Several other equities research analysts have also issued reports on the stock. Wells Fargo & Co lifted their price target on shares of Cincinnati Bell to $15.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. UBS Group lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating and set a $18.00 price target on the stock. in a report on Tuesday, July 10th. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.33.

Shares of Cincinnati Bell stock opened at $14.77 on Friday. Cincinnati Bell has a 1 year low of $9.90 and a 1 year high of $22.20.

Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Wednesday, August 8th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.12) by ($0.07). The company had revenue of $296.80 million for the quarter, compared to the consensus estimate of $298.03 million. The company’s revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.08 earnings per share. On average, equities analysts forecast that Cincinnati Bell will post -0.99 earnings per share for the current year.

In related news, Director Phillip R. Cox sold 14,597 shares of Cincinnati Bell stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $12.60, for a total transaction 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.40% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Comerica Bank boosted its position in Cincinnati Bell by 9.3% during the 3rd quarter. Comerica Bank now owns 48,750 shares of the utilities provider’s stock worth $682,000 after buying an additional 4,129 shares during the period. State Board of Administration of Florida Retirement System boosted its position in Cincinnati Bell by 13.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 52,108 shares of the utilities provider’s stock worth $831,000 after buying an additional 6,127 shares during the period. Arizona State Retirement System boosted its position in Cincinnati Bell by 17.8% during the 3rd quarter. Arizona State Retirement System now owns 72,740 shares of the utilities provider’s stock worth $1,160,000 after buying an additional 11,000 shares during the period. Russell Investments Group Ltd. acquired a new stake in Cincinnati Bell during the 3rd quarter worth approximately $127,000. Finally, Texas Permanent School Fund boosted its position in Cincinnati Bell by 15.5% during the 3rd quarter. Texas Permanent School Fund now owns 31,559 shares of the utilities provider’s stock worth $503,000 after buying an additional 4,225 shares during the period. Institutional investors and hedge funds own 74.38% 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.

See Also: Earnings Per Share (EPS)

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