Shares of Ribbon Communications Inc (NASDAQ:RBBN) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $8.50.
A number of research analysts have recently commented on the company. Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research note on Thursday, July 4th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. BidaskClub raised DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 13th. Finally, Northland Securities reaffirmed a “buy” rating on shares of Ribbon Communications in a research note on Wednesday, June 12th.
NASDAQ RBBN traded down $0.02 during trading hours on Friday, hitting $4.88. 131,845 shares of the company were exchanged, compared to its average volume of 317,881. The stock has a 50-day moving average price of $4.70. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. Ribbon Communications has a 52 week low of $4.23 and a 52 week high of $7.89. The stock has a market capitalization of $524.08 million, a PE ratio of 10.19 and a beta of 1.46.
Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). Ribbon Communications had a positive return on equity of 8.08% and a negative net margin of 10.90%. The company had revenue of $121.73 million for the quarter, compared to the consensus estimate of $129.43 million. During the same period in the previous year, the firm earned ($0.04) earnings per share. The company’s revenue was down 10.0% compared to the same quarter last year. As a group, analysts expect that Ribbon Communications will post 0.53 EPS for the current year.
In other Ribbon Communications news, Director Kent Mathy bought 20,500 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average price of $4.72 per share, with a total value of $96,760.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average price of $4.84 per share, with a total value of $484,000.00. The disclosure for this purchase can be found here. Corporate insiders own 1.66% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantamental Technologies LLC purchased a new stake in shares of Ribbon Communications in the first quarter valued at approximately $26,000. Legal & General Group Plc boosted its holdings in shares of Ribbon Communications by 37.8% in the fourth quarter. Legal & General Group Plc now owns 11,350 shares of the communications equipment provider’s stock valued at $55,000 after purchasing an additional 3,112 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Ribbon Communications in the first quarter valued at approximately $66,000. Prudential Financial Inc. boosted its holdings in shares of Ribbon Communications by 23.3% in the fourth quarter. Prudential Financial Inc. now owns 15,666 shares of the communications equipment provider’s stock valued at $76,000 after purchasing an additional 2,963 shares during the period. Finally, Penserra Capital Management LLC purchased a new stake in shares of Ribbon Communications in the first quarter valued at approximately $86,000. Hedge funds and other institutional investors own 81.76% of the company’s stock.
Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, other 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 secure and innovative business and consumer communications services.
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