Cincinnati Bell (CBB) Earns Equal Weight Rating from Analysts at Morgan Stanley

Morgan Stanley started coverage on shares of Cincinnati Bell (NYSE:CBB) in a report released on Thursday, MarketBeat Ratings reports. The brokerage issued an equal weight rating and a $24.00 price target on the utilities provider’s stock.

Several other equities analysts have also recently commented on CBB. Gabelli cut shares of Cincinnati Bell from a buy rating to a hold rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Cincinnati Bell from a buy rating to a hold rating in a research note on Saturday, August 19th. Finally, ValuEngine raised shares of Cincinnati Bell from a sell rating to a hold rating in a research note on Friday, September 1st. Three analysts have rated the stock with a sell rating and four have given a hold rating to the stock. The company presently has an average rating of Hold and a consensus price target of $24.00.

Shares of Cincinnati Bell (CBB) traded down $0.25 during trading hours on Thursday, reaching $21.45. 246,564 shares of the company traded hands, compared to its average volume of 277,171. The stock has a market capitalization of $904.89, a PE ratio of 214.50, a P/E/G ratio of 6.35 and a beta of 1.52. Cincinnati Bell has a 12 month low of $16.05 and a 12 month high of $24.45. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of -4.26.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.03 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.05. The company had revenue of $289.20 million during the quarter, compared to analysts’ expectations of $286.22 million. Cincinnati Bell had a net margin of 4.13% and a negative return on equity of 2.69%. Cincinnati Bell’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.38 earnings per share. equities analysts anticipate that Cincinnati Bell will post 1.13 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its stake in Cincinnati Bell by 2.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,628,621 shares of the utilities provider’s stock worth $32,329,000 after buying an additional 31,489 shares in the last quarter. State Street Corp grew its stake in Cincinnati Bell by 4.0% in the 2nd quarter. State Street Corp now owns 1,117,322 shares of the utilities provider’s stock worth $21,837,000 after buying an additional 43,375 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Cincinnati Bell by 3.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 721,922 shares of the utilities provider’s stock worth $14,113,000 after buying an additional 26,313 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Cincinnati Bell in the 2nd quarter worth approximately $12,468,000. Finally, Northern Trust Corp grew its stake in Cincinnati Bell by 1.0% in the 2nd quarter. Northern Trust Corp now owns 532,417 shares of the utilities provider’s stock worth $10,409,000 after buying an additional 5,302 shares in the last quarter. 84.22% of the stock is owned by institutional investors and hedge funds.

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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.

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