An issue of Cincinnati Bell Inc. (NYSE:CBB) debt fell 1% against its face value during trading on Thursday. The high-yield debt issue has a 7% coupon and will mature on July 15, 2024. The bonds in the issue are now trading at $90.00 and were trading at $92.63 last week. Price moves in a company’s debt in credit markets often predict parallel moves in its share price.

A number of research analysts have weighed in on the company. TheStreet downgraded Cincinnati Bell from a “c-” rating to a “d+” rating in a research note on Wednesday, March 28th. Morgan Stanley decreased their price target on Cincinnati Bell from $24.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, March 19th. Finally, ValuEngine downgraded Cincinnati Bell from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating and two have given a hold rating to the company. Cincinnati Bell currently has a consensus rating of “Hold” and an average price target of $16.00.

CBB opened at $12.30 on Friday. Cincinnati Bell Inc. has a 12-month low of $11.65 and a 12-month high of $22.20. The company has a market capitalization of $538.44 million, a PE ratio of -153.75 and a beta of 1.52. The company has a quick ratio of 1.82, a current ratio of 1.94 and a debt-to-equity ratio of -6.71.

Cincinnati Bell (NYSE:CBB) last released its quarterly earnings data on Wednesday, May 9th. The utilities provider reported ($0.19) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.04). Cincinnati Bell had a negative net margin of 2.77% and a negative return on equity of 0.61%. The business had revenue of $296.00 million during the quarter, compared to analyst estimates of $296.69 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. equities research analysts anticipate that Cincinnati Bell Inc. will post -0.42 earnings per share for the current fiscal year.

In other Cincinnati Bell news, VP Christopher J. Wilson acquired 2,041 shares of the business’s stock in a transaction dated Tuesday, May 29th. The stock was bought at an average cost of $12.58 per share, with a total value of $25,675.78. Following the completion of the transaction, the vice president now directly owns 53,764 shares in the company, valued at approximately $676,351.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 3,614 shares of company stock valued at $46,127. Insiders own 1.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. lifted its position in shares of Cincinnati Bell by 2.9% in the first quarter. Principal Financial Group Inc. now owns 324,946 shares of the utilities provider’s stock valued at $4,500,000 after buying an additional 9,265 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Cincinnati Bell by 34.4% in the first quarter. Legal & General Group Plc now owns 120,636 shares of the utilities provider’s stock valued at $1,664,000 after buying an additional 30,860 shares during the last quarter. Highbridge Capital Management LLC acquired a new stake in shares of Cincinnati Bell in the first quarter valued at approximately $1,099,000. Element Capital Management LLC acquired a new stake in shares of Cincinnati Bell in the first quarter valued at approximately $263,000. Finally, Citadel Advisors LLC acquired a new stake in shares of Cincinnati Bell in the first quarter valued at approximately $2,029,000. 84.54% of the stock is owned by institutional investors.

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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