Cincinnati Bell Inc (CBB) Position Held by Teachers Retirement System of The State of Kentucky
Teachers Retirement System of The State of Kentucky maintained its stake in shares of Cincinnati Bell Inc (NYSE:CBB) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,620 shares of the utilities provider’s stock at the end of the first quarter. Teachers Retirement System of The State of Kentucky’s holdings in Cincinnati Bell were worth $259,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA purchased a new stake in shares of Cincinnati Bell during the first quarter worth approximately $161,000. Mason Street Advisors LLC boosted its stake in shares of Cincinnati Bell by 7.3% in the first quarter. Mason Street Advisors LLC now owns 9,851 shares of the utilities provider’s stock worth $174,000 after buying an additional 668 shares in the last quarter. Karp Capital Management Corp purchased a new stake in shares of Cincinnati Bell during the first quarter worth approximately $231,000. Clinton Group Inc. purchased a new stake in shares of Cincinnati Bell during the first quarter worth approximately $259,000. Finally, Louisiana State Employees Retirement System boosted its stake in shares of Cincinnati Bell by 1.8% in the first quarter. Louisiana State Employees Retirement System now owns 17,180 shares of the utilities provider’s stock worth $304,000 after buying an additional 300 shares in the last quarter. 82.43% of the stock is owned by institutional investors.
Shares of Cincinnati Bell Inc (NYSE CBB) remained flat at $21.35 during mid-day trading on Thursday. The stock had a trading volume of 81,267 shares. Cincinnati Bell Inc has a 52-week low of $16.05 and a 52-week high of $24.45. The stock has a market cap of $900.44 million, a PE ratio of 13.02 and a beta of 1.66. The stock’s 50 day moving average is $18.78 and its 200-day moving average is $18.87.
Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. The company had revenue of $294 million for the quarter, compared to analyst estimates of $284.28 million. Cincinnati Bell had a negative return on equity of 3.87% and a net margin of 6.84%. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.04 earnings per share. Equities analysts predict that Cincinnati Bell Inc will post $0.93 EPS for the current fiscal year.
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A number of brokerages have commented on CBB. BidaskClub raised Cincinnati Bell from a “hold” rating to a “buy” rating in a research report on Monday, July 31st. Gabelli cut Cincinnati Bell from a “buy” rating to a “hold” rating in a research report on Tuesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $22.00 price target (down previously from $25.00) on shares of Cincinnati Bell in a research report on Wednesday, June 14th. Finally, ValuEngine cut Cincinnati Bell from a “hold” rating to a “sell” rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. Cincinnati Bell currently has an average rating of “Hold” and an average target price of $23.50.
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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