Ribbon Communications Inc. (NASDAQ:RBBN) EVP Michael R. Swade sold 13,979 shares of the business’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $5.14, for a total value of $71,852.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Ribbon Communications Inc. (RBBN) traded down $0.02 during trading on Tuesday, hitting $5.23. The stock had a trading volume of 663,843 shares, compared to its average volume of 552,847. The firm has a market capitalization of $521.87, a price-to-earnings ratio of -9.02 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 Inc. has a 12 month low of $5.01 and a 12 month high of $9.05.
Ribbon Communications (NASDAQ:RBBN) last announced its earnings results on Thursday, March 1st. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). The company had revenue of $169.50 million for the quarter, compared to analyst estimates of $150.25 million. Ribbon Communications had a positive return on equity of 3.22% and a negative net margin of 10.68%. The firm’s revenue for the quarter was up 150.7% on a year-over-year basis. During the same period last year, the firm earned $0.09 earnings per share. equities analysts anticipate that Ribbon Communications Inc. will post -0.28 earnings per share for the current fiscal year.
RBBN has been the topic of a number of recent analyst reports. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a research report on Friday, December 8th. Zacks Investment Research lowered Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. BidaskClub lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Finally, TheStreet lowered Ribbon Communications from a “c-” rating to a “d+” rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Ribbon Communications currently has an average rating of “Hold” and an average target price of $7.25.
A number of large investors have recently bought and sold shares of RBBN. Ellington Management Group LLC acquired a new position in Ribbon Communications during the fourth quarter valued at $109,000. Teacher Retirement System of Texas acquired a new position in Ribbon Communications during the fourth quarter valued at $110,000. Bank of Montreal Can acquired a new position in Ribbon Communications during the fourth quarter valued at $152,000. Two Sigma Securities LLC acquired a new position in Ribbon Communications during the fourth quarter valued at $160,000. Finally, Nwam LLC acquired a new position in Ribbon Communications during the fourth quarter valued at $164,000. 84.39% of the stock is currently owned by hedge funds and other institutional investors.
Ribbon Communications Company Profile
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.
Receive News & Ratings for Ribbon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ribbon Communications and related companies with MarketBeat.com's FREE daily email newsletter.