Several other research firms also recently issued reports on RBBN. BidaskClub raised Ribbon Communications from a strong sell rating to a sell rating in a research report on Thursday, April 25th. Northland Securities reissued a buy rating and issued a $9.00 target price on shares of Ribbon Communications in a research report on Friday, May 3rd. Finally, Zacks Investment Research downgraded Ribbon Communications from a buy rating to a hold rating in a research report on Friday, February 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $7.75.
Shares of NASDAQ RBBN traded down $0.29 during mid-day trading on Wednesday, hitting $4.89. The stock had a trading volume of 273,656 shares, compared to its average volume of 426,072. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.75. Ribbon Communications has a twelve month low of $4.52 and a twelve month high of $7.89. The company has a market cap of $520.88 million, a price-to-earnings ratio of 10.19, a PEG ratio of 0.96 and a beta of 1.31.
Ribbon Communications (NASDAQ:RBBN) last released its earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). Ribbon Communications had a negative net margin of 10.90% and a positive return on equity of 8.08%. The firm had revenue of $121.73 million during the quarter, compared to analyst estimates of $129.43 million. During the same period in the previous year, the company earned ($0.04) earnings per share. Ribbon Communications’s revenue was down 10.0% on a year-over-year basis. Research analysts expect that Ribbon Communications will post 0.45 earnings per share for the current year.
In related news, Director Kent Mathy purchased 20,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The shares were bought at an average cost of $4.72 per share, with a total value of $96,760.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $4.84 per share, for a total transaction of $484,000.00. The disclosure for this purchase can be found here. 1.66% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in RBBN. Quantamental Technologies LLC acquired a new stake in Ribbon Communications during the 1st quarter worth about $26,000. Legal & General Group Plc grew its position in Ribbon Communications by 37.8% during the 4th quarter. Legal & General Group Plc now owns 11,350 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 3,112 shares during the period. PEAK6 Investments LLC acquired a new stake in Ribbon Communications during the 4th quarter worth about $59,000. Man Group plc acquired a new stake in Ribbon Communications during the 1st quarter worth about $64,000. Finally, SG Americas Securities LLC acquired a new stake in Ribbon Communications during the 1st quarter worth about $66,000. 79.24% of the stock is currently owned by institutional investors.
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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