BidaskClub upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a strong sell rating to a sell rating in a research note published on Friday.
Several other equities research analysts have also recently weighed in on the stock. TheStreet cut shares of Ribbon Communications from a c- rating to a d+ rating in a research report on Friday, March 16th. ValuEngine cut shares of Ribbon Communications from a sell rating to a strong sell rating in a research report on Tuesday, March 13th. William Blair reaffirmed a buy rating on shares of Ribbon Communications in a research report on Monday, March 12th. Finally, Zacks Investment Research cut shares of Ribbon Communications from a hold rating to a sell rating in a research report on Thursday, March 1st. Four analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $7.25.
Ribbon Communications stock opened at $5.35 on Friday. The stock has a market capitalization of $537.16, a price-to-earnings ratio of 76.43 and a beta of 1.77. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.07. Ribbon Communications has a 1 year low of $4.97 and a 1 year high of $9.05.
Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Thursday, March 1st. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.02). The company had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $150.25 million. Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 3.22%. Ribbon Communications’s quarterly revenue was up 150.7% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. research analysts expect that Ribbon Communications will post -0.28 earnings per share for the current fiscal year.
In other news, EVP Michael R. Swade sold 13,979 shares of the company’s stock in a transaction that occurred on Friday, March 16th. The shares were sold at an average price of $5.14, for a total value of $71,852.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Bruns H. Grayson bought 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were purchased at an average cost of $5.17 per share, with a total value of $517,000.00. The disclosure for this purchase can be found here. 7.68% of the stock is currently owned by corporate insiders.
A number of large investors have recently bought and sold shares of RBBN. First Trust Advisors LP purchased a new stake in Ribbon Communications during the fourth quarter valued at approximately $31,591,000. BlackRock Inc. purchased a new stake in Ribbon Communications during the fourth quarter valued at approximately $24,599,000. Renaissance Technologies LLC purchased a new stake in Ribbon Communications during the fourth quarter valued at approximately $13,486,000. Central Securities Corp purchased a new stake in Ribbon Communications during the fourth quarter valued at approximately $9,396,000. Finally, Royce & Associates LP purchased a new stake in Ribbon Communications during the fourth quarter valued at approximately $5,290,000. 84.45% of the stock is owned by institutional investors.
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Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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