Cincinnati Bell Inc. (NYSE:CBB) received a $3.25 price objective from investment analysts at Bank of America Corp. in a report released on Wednesday. The brokerage presently has a a “sell” rating on the stock. Bank of America Corp.’s target price would indicate a potential downside of 32.01% from the company’s previous close.
A number of hedge funds and institutional investors have recently bought and sold shares of CBB. Metropolitan Life Insurance Co. NY increased its position in Cincinnati Bell by 0.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 145,913 shares of the company’s stock valued at $565,000 after buying an additional 607 shares in the last quarter. Arizona State Retirement System increased its position in Cincinnati Bell by 4.3% in the first quarter. Arizona State Retirement System now owns 107,602 shares of the company’s stock valued at $416,000 after buying an additional 4,400 shares in the last quarter. Rhumbline Advisers increased its position in Cincinnati Bell by 1.8% in the fourth quarter. Rhumbline Advisers now owns 336,816 shares of the company’s stock valued at $1,213,000 after buying an additional 5,935 shares in the last quarter. BlackRock Group LTD increased its position in Cincinnati Bell by 8.2% in the first quarter. BlackRock Group LTD now owns 339,137 shares of the company’s stock valued at $1,314,000 after buying an additional 25,775 shares in the last quarter. Finally, AMP Capital Investors Ltd purchased a new position in Cincinnati Bell during the first quarter valued at about $125,000.
A number of other equities research analysts have also commented on CBB. Zacks Investment Research lowered Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Friday, May 6th. Gabelli lowered Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th.
Shares of Cincinnati Bell (NYSE:CBB) traded down 1.05% on Wednesday, hitting $4.73. The stock had a trading volume of 265,743 shares. The firm has a 50 day moving average price of $4.63 and a 200 day moving average price of $3.87. The company has a market capitalization of $993.58 million and a P/E ratio of 3.32. Cincinnati Bell has a one year low of $2.80 and a one year high of $5.03.
Cincinnati Bell (NYSE:CBB) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by $0.01. The company earned $289 million during the quarter, compared to analyst estimates of $295.04 million. During the same quarter in the previous year, the business posted ($0.01) EPS. Cincinnati Bell’s revenue was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Cincinnati Bell will post $0.06 earnings per share for the current fiscal year.
Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments. The Entertainment and Communications segment provides products and services, such as high-speed Internet, data transport local voice, long distance, voice over Internet protocol (VoIP), video and other services.