Cincinnati Bell (NYSE:CBB) Trading Down 9.6%

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Cincinnati Bell Inc. (NYSE:CBB)’s stock price traded down 9.6% during trading on Thursday . The company traded as low as $4.87 and last traded at $4.90, 630,425 shares were traded during mid-day trading. An increase of 40% from the average session volume of 450,540 shares. The stock had previously closed at $5.42.

A number of equities research analysts recently commented on the stock. ValuEngine upgraded shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. UBS Group upgraded Cincinnati Bell from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $11.00 to $7.00 in a research report on Friday, August 9th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $8.00 target price (down from $10.00) on shares of Cincinnati Bell in a research note on Friday, June 7th.

The firm has a market cap of $258.91 million, a price-to-earnings ratio of -4.41 and a beta of 1.42. The business’s 50 day moving average price is $4.27 and its 200-day moving average price is $7.24.

Cincinnati Bell (NYSE:CBB) last posted its earnings results on Thursday, August 8th. The utilities provider reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.12. The firm had revenue of $384.20 million during the quarter, compared to the consensus estimate of $377.08 million. Cincinnati Bell’s revenue for the quarter was up 29.4% on a year-over-year basis. During the same quarter last year, the company posted ($0.19) EPS. Equities research analysts forecast that Cincinnati Bell Inc. will post -1.12 earnings per share for the current year.

In other Cincinnati Bell news, VP Christopher J. Wilson purchased 6,628 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $6.70 per share, for a total transaction of $44,407.60. Following the purchase, the vice president now directly owns 90,285 shares in the company, valued at approximately $604,909.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Andrew R. Kaiser purchased 4,300 shares of the company’s stock in a transaction dated Wednesday, May 29th. The shares were acquired at an average price of $6.93 per share, for a total transaction of $29,799.00. Following the purchase, the chief financial officer now owns 62,354 shares in the company, valued at $432,113.22. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 15,928 shares of company stock valued at $99,207. 2.40% of the stock is owned by insiders.

A number of large investors have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in shares of Cincinnati Bell by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 544,878 shares of the utilities provider’s stock valued at $4,239,000 after purchasing an additional 22,481 shares in the last quarter. FMR LLC raised its stake in shares of Cincinnati Bell by 8.4% in the fourth quarter. FMR LLC now owns 896,972 shares of the utilities provider’s stock valued at $6,978,000 after acquiring an additional 69,800 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Cincinnati Bell by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,880,058 shares of the utilities provider’s stock valued at $14,627,000 after buying an additional 122,482 shares in the last quarter. Norges Bank acquired a new stake in Cincinnati Bell in the fourth quarter valued at $2,451,000. Finally, BNP Paribas Arbitrage SA raised its stake in Cincinnati Bell by 466.7% in the first quarter. BNP Paribas Arbitrage SA now owns 10,614 shares of the utilities provider’s stock valued at $101,000 after buying an additional 8,741 shares in the last quarter. Institutional investors and hedge funds own 96.66% of the company’s stock.

Cincinnati Bell Company Profile (NYSE:CBB)

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, as well as long distance, digital trunking, switched access, and other value-added services, such as caller identification, voicemail, call waiting, and call return.

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