A number of other analysts have also recently issued reports on the company. William Blair restated a buy rating on shares of Ribbon Communications in a research report on Friday, December 8th. Zacks Investment Research cut Ribbon Communications from a hold rating to a sell rating in a research report on Thursday, March 1st. BidaskClub upgraded Ribbon Communications from a sell rating to a hold rating in a research report on Monday, February 5th. Finally, ValuEngine cut Ribbon Communications from a hold rating to a sell rating in a research report on Monday, February 5th. Four investment 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. Ribbon Communications has a consensus rating of Hold and a consensus target price of $7.25.
Ribbon Communications stock opened at $5.25 on Friday. The company has a market capitalization of $521.87, a P/E ratio of -9.05 and a beta of 1.66. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. Ribbon Communications has a 1-year low of $5.01 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 analysts’ consensus estimates of $0.18 by ($0.02). The firm had revenue of $169.50 million for the quarter, compared to the consensus estimate of $150.25 million. Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 3.22%. The business’s revenue for the quarter was up 150.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.09 earnings per share. equities research analysts anticipate that Ribbon Communications will post -0.28 EPS for the current year.
In related news, Director Bruns H. Grayson purchased 100,000 shares of the stock in a transaction on Thursday, March 15th. The shares were purchased at an average cost of $5.17 per share, for a total transaction of $517,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Franklin W. Iv Hobbs purchased 75,000 shares of the stock in a transaction on Monday, March 5th. The stock was bought at an average price of $5.66 per share, for a total transaction of $424,500.00. The disclosure for this purchase can be found here. Corporate insiders own 7.68% of the company’s stock.
A number of large investors have recently made changes to their positions in RBBN. Bank of Montreal Can bought a new stake in Ribbon Communications in the fourth quarter valued at $152,000. Schwab Charles Investment Management Inc. bought a new stake in Ribbon Communications in the fourth quarter valued at $1,705,000. Strs Ohio bought a new stake in Ribbon Communications in the fourth quarter valued at $469,000. Horrell Capital Management Inc. bought a new stake in Ribbon Communications in the fourth quarter valued at $2,441,000. Finally, Cowen Prime Services LLC bought a new stake in Ribbon Communications in the fourth quarter valued at $4,398,000. Hedge funds and other institutional investors own 84.39% of the company’s stock.
About Ribbon Communications
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.