Ribbon Communications (RBBN) Downgraded to “Hold” at Zacks Investment Research

Ribbon Communications (NASDAQ:RBBN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.

According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “

A number of other research firms also recently weighed in on RBBN. National Securities initiated coverage on Ribbon Communications in a research report on Monday, October 22nd. They set a “buy” rating and a $8.50 price target for the company. BidaskClub downgraded Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Cowen raised Ribbon Communications from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 1st. ValuEngine raised Ribbon Communications from a “strong sell” rating to a “sell” rating in a research report on Thursday. Finally, William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a research report on Tuesday, July 31st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $7.75.

NASDAQ:RBBN opened at $6.75 on Friday. Ribbon Communications has a twelve month low of $4.97 and a twelve month high of $8.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.15 and a quick ratio of 1.05. The company has a market cap of $587.69 million, a price-to-earnings ratio of 96.43, a PEG ratio of 1.27 and a beta of 1.60.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Tuesday, October 30th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.06. Ribbon Communications had a positive return on equity of 6.73% and a negative net margin of 16.28%. The firm had revenue of $152.46 million during the quarter, compared to the consensus estimate of $138.40 million. During the same quarter in the prior year, the firm posted $0.14 EPS. The business’s revenue was up 104.4% on a year-over-year basis. On average, sell-side analysts forecast that Ribbon Communications will post 0.37 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royce & Associates LP boosted its holdings in shares of Ribbon Communications by 25.6% in the 2nd quarter. Royce & Associates LP now owns 1,725,596 shares of the communications equipment provider’s stock valued at $12,286,000 after buying an additional 352,154 shares during the last quarter. Paradigm Capital Management Inc. NY boosted its holdings in shares of Ribbon Communications by 1,177.4% in the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,085,820 shares of the communications equipment provider’s stock valued at $7,731,000 after buying an additional 1,000,820 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Ribbon Communications by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,193,905 shares of the communications equipment provider’s stock valued at $16,289,000 after buying an additional 14,570 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Ribbon Communications by 17.0% in the 2nd quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after buying an additional 7,912 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its holdings in shares of Ribbon Communications by 20.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 277,052 shares of the communications equipment provider’s stock valued at $1,973,000 after buying an additional 46,430 shares during the last quarter. 80.48% of the stock is owned by institutional investors.

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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