Cincinnati Bell Inc. (NYSE:CBB)’s share price rose 20.5% on Tuesday . The company traded as high as $10.82 and last traded at $10.63. Approximately 1,049,140 shares changed hands during trading, an increase of 146% from the average daily volume of 425,985 shares. The stock had previously closed at $8.82.

CBB has been the subject of a number of analyst reports. ValuEngine raised shares of Cincinnati Bell from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. Morgan Stanley raised shares of Cincinnati Bell from an “underweight” rating to an “equal weight” rating and set a $10.00 target price for the company in a research note on Friday, February 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Cincinnati Bell has a consensus rating of “Hold” and a consensus price target of $14.33.

The company has a market capitalization of $542.34 million, a price-to-earnings ratio of -9.55 and a beta of 1.53.

Cincinnati Bell (NYSE:CBB) last announced its earnings results on Thursday, February 14th. The utilities provider reported ($0.55) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.41). The company had revenue of $399.00 million for the quarter, compared to analyst estimates of $391.49 million. During the same period in the previous year, the company earned ($0.34) earnings per share. The firm’s revenue was up 32.5% compared to the same quarter last year. As a group, equities research analysts predict that Cincinnati Bell Inc. will post -0.44 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CBB. Millennium Management LLC bought a new stake in Cincinnati Bell in the second quarter valued at $1,311,000. Bank of New York Mellon Corp increased its stake in Cincinnati Bell by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 680,810 shares of the utilities provider’s stock valued at $10,688,000 after purchasing an additional 16,698 shares in the last quarter. Northern Trust Corp increased its stake in Cincinnati Bell by 2.2% in the second quarter. Northern Trust Corp now owns 537,371 shares of the utilities provider’s stock valued at $8,436,000 after purchasing an additional 11,620 shares in the last quarter. Texas Permanent School Fund increased its stake in Cincinnati Bell by 15.5% in the third quarter. Texas Permanent School Fund now owns 31,559 shares of the utilities provider’s stock valued at $503,000 after purchasing an additional 4,225 shares in the last quarter. Finally, Russell Investments Group Ltd. bought a new stake in Cincinnati Bell in the third quarter valued at $127,000. 90.35% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION NOTICE: “Cincinnati Bell (CBB) Stock Price Up 20.5%” was published by Watch List News and is the property of of Watch List News. If you are reading this story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this story can be viewed at https://www.watchlistnews.com/cincinnati-bell-cbb-stock-price-up-20-5/2838586.html.

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, such as Fioptics voice lines, voice over Internet protocol, long distance, digital trunking, switched access, caller identification, voicemail, call waiting, and call return.

Recommended Story: Beta

Receive News & Ratings for Cincinnati Bell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cincinnati Bell and related companies with MarketBeat.com's FREE daily email newsletter.