Ribbon Communications (NASDAQ:RBBN) was downgraded by investment analysts at TheStreet from a “c-” rating to a “d+” rating in a research report issued on Friday.
Other research analysts have also issued reports about the company. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a research report on Friday, December 8th. BidaskClub lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research lowered Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, ValuEngine lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.25.
Ribbon Communications stock opened at $5.25 on Friday. Ribbon Communications has a 12 month low of $5.01 and a 12 month high of $9.05. The company has a market capitalization of $521.87, a price-to-earnings ratio of -9.05 and a beta of 1.66. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.04.
Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Thursday, March 1st. The communications equipment provider reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.02). Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 3.22%. The firm had revenue of $169.50 million during the quarter, compared to the consensus estimate of $150.25 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The firm’s revenue was up 150.7% on a year-over-year basis. sell-side analysts predict that Ribbon Communications will post -0.28 earnings per share for the current fiscal year.
In related news, Director Bruns H. Grayson bought 100,000 shares of the stock in a transaction that occurred on Thursday, March 15th. The stock was acquired at an average cost of $5.17 per share, with a total value of $517,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the stock in a transaction dated Monday, March 5th. The stock was acquired at an average cost of $5.66 per share, with a total value of $424,500.00. The disclosure for this purchase can be found here. 7.68% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of RBBN. Ellington Management Group LLC bought a new position in shares of Ribbon Communications in the 4th quarter worth about $109,000. Teacher Retirement System of Texas bought a new position in shares of Ribbon Communications in the 4th quarter worth about $110,000. Bank of Montreal Can bought a new position in shares of Ribbon Communications in the 4th quarter worth about $152,000. Two Sigma Securities LLC bought a new position in shares of Ribbon Communications in the 4th quarter worth about $160,000. Finally, Nwam LLC bought a new position in shares of Ribbon Communications in the 4th quarter worth about $164,000. 84.39% of the stock is owned by hedge funds and other institutional investors.
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About Ribbon Communications
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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