Cincinnati Bell (CBB) Debt Trading 1.4% Higher

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An issue of Cincinnati Bell Inc. (NYSE:CBB) bonds rose 1.4% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 8% coupon and will mature on October 15, 2025. The bonds in the issue are now trading at $89.88 and were trading at $91.25 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its share price.

A number of equities research analysts recently weighed in on CBB shares. ValuEngine upgraded shares of Cincinnati Bell from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Morgan Stanley cut shares of Cincinnati Bell from an “overweight” rating to an “equal” rating and set a $16.00 price objective on the stock. in a research note on Friday, May 25th. UBS Group cut shares of Cincinnati Bell from a “buy” rating to a “hold” rating and set a $18.00 price objective on the stock. in a research note on Tuesday, July 10th. Finally, Wells Fargo & Co upgraded shares of Cincinnati Bell from a “market perform” rating to an “outperform” rating in a research note on Thursday. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $17.00.

Cincinnati Bell traded down $0.55, hitting $11.55, during midday trading on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 710,117 shares, compared to its average volume of 648,392. The company has a current ratio of 1.90, a quick ratio of 1.82 and a debt-to-equity ratio of -6.33. Cincinnati Bell Inc. has a 12 month low of $9.90 and a 12 month high of $22.20. The stock has a market cap of $606.90 million, a PE ratio of -144.38 and a beta of 1.24.

Cincinnati Bell (NYSE:CBB) last issued its quarterly earnings results on Wednesday, August 8th. The utilities provider reported ($0.19) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.07). Cincinnati Bell had a negative return on equity of 0.61% and a negative net margin of 3.98%. The business had revenue of $296.80 million during the quarter, compared to the consensus estimate of $298.03 million. During the same quarter last year, the firm posted $0.08 earnings per share. Cincinnati Bell’s revenue was up 14.4% compared to the same quarter last year. equities analysts predict that Cincinnati Bell Inc. will post -0.97 EPS for the current fiscal year.

In other Cincinnati Bell news, VP Christopher J. Wilson purchased 2,041 shares of the company’s stock in a transaction on Tuesday, May 29th. The shares were purchased at an average cost of $12.58 per share, for a total transaction of $25,675.78. Following the completion of the transaction, the vice president now owns 53,764 shares in the company, valued at $676,351.12. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders acquired 3,614 shares of company stock worth $46,127. 1.40% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Piedmont Investment Advisors LLC purchased a new position in Cincinnati Bell in the 2nd quarter worth about $155,000. BNP Paribas Arbitrage SA increased its stake in Cincinnati Bell by 31.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 18,448 shares of the utilities provider’s stock worth $290,000 after purchasing an additional 4,449 shares in the last quarter. Element Capital Management LLC purchased a new position in Cincinnati Bell in the 1st quarter worth about $263,000. MetLife Investment Advisors LLC purchased a new position in Cincinnati Bell in the 4th quarter worth about $407,000. Finally, Aperio Group LLC increased its stake in Cincinnati Bell by 48.5% in the 2nd quarter. Aperio Group LLC now owns 19,741 shares of the utilities provider’s stock worth $310,000 after purchasing an additional 6,448 shares in the last quarter. Hedge funds and other institutional investors own 86.97% of the company’s stock.

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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