Morgan Stanley upgraded shares of Cincinnati Bell (NYSE:CBB) from an underweight rating to an equal weight rating in a report released on Friday, Marketbeat reports. Morgan Stanley currently has $10.00 price target on the utilities provider’s stock.

Separately, ValuEngine cut Cincinnati Bell from a hold rating to a sell rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $14.33.

Shares of CBB traded up $0.06 during mid-day trading on Friday, reaching $8.82. 730,332 shares of the company were exchanged, compared to its average volume of 406,514. Cincinnati Bell has a 52 week low of $6.60 and a 52 week high of $17.60. The company has a market capitalization of $442.46 million, a price-to-earnings ratio of -110.25 and a beta of 1.53.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Thursday, February 14th. The utilities provider reported ($0.55) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.41). The firm had revenue of $399.00 million during the quarter, compared to the consensus estimate of $391.49 million. During the same period last year, the business earned ($0.34) EPS. Cincinnati Bell’s revenue was up 32.5% compared to the same quarter last year. On average, research analysts predict that Cincinnati Bell will post -0.83 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its stake in Cincinnati Bell by 0.6% during the fourth quarter. BlackRock Inc. now owns 7,257,778 shares of the utilities provider’s stock worth $56,465,000 after purchasing an additional 41,767 shares during the period. Vanguard Group Inc. raised its stake in shares of Cincinnati Bell by 13.5% in the third quarter. Vanguard Group Inc. now owns 5,085,721 shares of the utilities provider’s stock valued at $81,117,000 after buying an additional 604,538 shares during the period. Vanguard Group Inc raised its stake in shares of Cincinnati Bell by 13.5% in the third quarter. Vanguard Group Inc now owns 5,085,721 shares of the utilities provider’s stock valued at $81,117,000 after buying an additional 604,538 shares during the period. Credit Suisse AG raised its stake in shares of Cincinnati Bell by 55.9% in the third quarter. Credit Suisse AG now owns 2,946,256 shares of the utilities provider’s stock valued at $46,993,000 after buying an additional 1,056,848 shares during the period. Finally, Brookfield Asset Management Inc. raised its stake in shares of Cincinnati Bell by 18.1% in the third quarter. Brookfield Asset Management Inc. now owns 2,389,118 shares of the utilities provider’s stock valued at $38,106,000 after buying an additional 366,862 shares during the period. 90.92% of the stock is owned by institutional investors and hedge funds.

About Cincinnati Bell

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.

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