Cincinnati Bell Inc (CBB) Debt Trading 1% Higher

An issue of Cincinnati Bell Inc (NYSE:CBB) debt rose 1% against its face value during trading on Friday. The high-yield issue of debt has a 7% coupon and will mature on July 15, 2024. The bonds in the issue are now trading at $97.75 and were trading at $99.66 one week ago. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its share price.

Several equities research analysts have issued reports on the stock. BidaskClub lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Saturday, August 19th. Gabelli lowered shares of Cincinnati Bell from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $22.00 price target (down from $25.00) on shares of Cincinnati Bell in a research note on Wednesday, June 14th. Finally, ValuEngine lowered shares of Cincinnati Bell from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $23.50.

Shares of Cincinnati Bell Inc (NYSE CBB) opened at 21.10 on Friday. The firm has a 50-day moving average of $19.47 and a 200 day moving average of $18.76. Cincinnati Bell Inc has a 52 week low of $16.05 and a 52 week high of $24.45. The firm has a market capitalization of $889.89 million, a price-to-earnings ratio of 12.87 and a beta of 1.66.

Cincinnati Bell (NYSE:CBB) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.07. The business had revenue of $294 million for the quarter, compared to analysts’ expectations of $284.28 million. Cincinnati Bell had a net margin of 6.84% and a negative return on equity of 3.87%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. On average, equities analysts predict that Cincinnati Bell Inc will post $1.36 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. boosted its position in Cincinnati Bell by 1.0% in the second quarter. Pinebridge Investments L.P. now owns 5,551 shares of the utilities provider’s stock valued at $108,000 after buying an additional 55 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Cincinnati Bell by 10.3% in the second quarter. Public Employees Retirement System of Ohio now owns 6,511 shares of the utilities provider’s stock valued at $127,000 after buying an additional 606 shares in the last quarter. BNP Paribas Arbitrage SA bought a new position in Cincinnati Bell during the first quarter valued at about $161,000. State of Alaska Department of Revenue boosted its position in Cincinnati Bell by 78.8% in the second quarter. State of Alaska Department of Revenue now owns 8,316 shares of the utilities provider’s stock valued at $162,000 after buying an additional 3,666 shares in the last quarter. Finally, Mason Street Advisors LLC boosted its position in Cincinnati Bell by 7.3% in the first quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock valued at $174,000 after buying an additional 668 shares in the last quarter. Institutional investors and hedge funds own 85.08% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “[[title]]” was published by [[site]] and is owned by of [[site]]. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at [[permalink]].

About Cincinnati Bell

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.