Shares of Ribbon Communications Inc (NASDAQ:RBBN) hit a new 52-week high and low on Monday . The company traded as low as $4.97 and last traded at $5.02, with a volume of 353475 shares traded. The stock had previously closed at $5.10.
RBBN has been the subject of a number of recent analyst reports. Zacks Investment Research downgraded Ribbon Communications from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. William Blair reiterated a “buy” rating on shares of Ribbon Communications in a report on Friday, December 8th. BidaskClub upgraded Ribbon Communications from a “sell” rating to a “hold” rating in a report on Monday, February 5th. ValuEngine downgraded Ribbon Communications from a “hold” rating to a “sell” rating in a report on Monday, February 5th. Finally, TheStreet downgraded Ribbon Communications from a “c-” rating to a “d+” rating in a report on Friday, March 16th. Four research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.25.
The company has a debt-to-equity ratio of 0.04, a current ratio of 1.16 and a quick ratio of 1.07. The firm has a market capitalization of $519.84, a price-to-earnings ratio of 72.21 and a beta of 1.77.
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 the Zacks’ consensus estimate of $0.18 by ($0.02). The company had revenue of $169.50 million for the quarter, compared to the consensus estimate of $150.25 million. Ribbon Communications had a positive return on equity of 3.22% and a negative net margin of 10.68%. Ribbon Communications’s revenue for the quarter was up 150.7% compared to the same quarter last year. During the same period last year, the company earned $0.09 EPS. equities research analysts expect that Ribbon Communications Inc will post -0.28 EPS for the current year.
In related news, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the business’s stock in a transaction dated Monday, March 5th. The shares were bought at an average price of $5.66 per share, with a total value of $424,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Michael R. Swade sold 13,979 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $5.14, for a total transaction of $71,852.06. The disclosure for this sale can be found here. 7.68% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Ellington Management Group LLC bought a new position in shares of Ribbon Communications during the 4th quarter worth about $109,000. Teacher Retirement System of Texas bought a new position in shares of Ribbon Communications during the 4th quarter worth about $110,000. Bank of Montreal Can bought a new position in shares of Ribbon Communications during the 4th quarter worth about $152,000. Two Sigma Securities LLC bought a new position in shares of Ribbon Communications during the 4th quarter worth about $160,000. Finally, Nwam LLC bought a new position in shares of Ribbon Communications during the 4th quarter worth about $164,000. 84.39% 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, rest of the 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 to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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