Ribbon Communications (RBBN) Stock Rating Lowered by TheStreet

TheStreet cut shares of Ribbon Communications (NASDAQ:RBBN) from a c- rating to a d+ rating in a report issued on Friday morning.

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.

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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.

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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.

Analyst Recommendations for Ribbon Communications (NASDAQ:RBBN)

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