ValuEngine lowered shares of Cincinnati Bell (NYSE:CBB) from a hold rating to a sell rating in a research note released on Friday morning.
Separately, Morgan Stanley began coverage on Cincinnati Bell in a report on Thursday, November 30th. They set an equal weight rating and a $24.00 price target on the stock.
Cincinnati Bell (CBB) opened at $16.00 on Friday. The stock has a market capitalization of $685.51, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 45.08 and a beta of 1.45. Cincinnati Bell has a twelve month low of $15.90 and a twelve month high of $22.80. The company has a current ratio of 1.02, a quick ratio of 0.94 and a debt-to-equity ratio of -4.26.
Large investors have recently modified their holdings of the company. Cornerstone Capital Management Holdings LLC. acquired a new position in shares of Cincinnati Bell during the third quarter worth approximately $791,000. Citadel Advisors LLC raised its position in shares of Cincinnati Bell by 89.8% during the second quarter. Citadel Advisors LLC now owns 21,432 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 10,139 shares during the period. California Public Employees Retirement System raised its position in shares of Cincinnati Bell by 3.8% during the third quarter. California Public Employees Retirement System now owns 198,047 shares of the utilities provider’s stock worth $3,931,000 after purchasing an additional 7,267 shares during the period. First Trust Advisors LP acquired a new position in shares of Cincinnati Bell during the third quarter worth approximately $489,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Cincinnati Bell by 9.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 354,362 shares of the utilities provider’s stock worth $6,928,000 after purchasing an additional 31,687 shares during the period. 83.51% of the stock is currently owned by institutional investors.
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Cincinnati Bell Company Profile
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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