Other analysts have also recently issued reports about the company. Northland Securities reaffirmed a buy rating on shares of Ribbon Communications in a research note on Wednesday. Zacks Investment Research cut Ribbon Communications from a buy rating to a hold rating in a research note on Friday, February 22nd. Finally, ValuEngine raised Ribbon Communications from a strong sell rating to a sell rating in a research note on Saturday, March 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $7.75.
Shares of RBBN stock traded down $0.04 on Thursday, reaching $4.73. The company had a trading volume of 12,329 shares, compared to its average volume of 288,004. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.75. The stock has a market cap of $493.18 million, a PE ratio of 9.84 and a beta of 1.39. Ribbon Communications has a 12 month low of $4.23 and a 12 month high of $7.89.
Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The company had revenue of $121.73 million during the quarter, compared to the consensus estimate of $129.43 million. Ribbon Communications had a negative net margin of 10.90% and a positive return on equity of 8.08%. The business’s revenue was down 10.0% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. As a group, research analysts anticipate that Ribbon Communications will post 0.53 earnings per share for the current year.
In other Ribbon Communications news, Director Kent Mathy bought 20,500 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was acquired at an average cost of $4.72 per share, with a total value of $96,760.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average cost of $4.84 per share, with a total value of $484,000.00. The disclosure for this purchase can be found here. 1.66% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of RBBN. Morgan Stanley increased its stake in Ribbon Communications by 186.3% during the 3rd quarter. Morgan Stanley now owns 390,939 shares of the communications equipment provider’s stock worth $2,671,000 after purchasing an additional 254,405 shares in the last quarter. Vanguard Group Inc. increased its stake in Ribbon Communications by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,647,288 shares of the communications equipment provider’s stock worth $24,911,000 after purchasing an additional 288,331 shares in the last quarter. Rhumbline Advisers increased its stake in Ribbon Communications by 42.8% during the 4th quarter. Rhumbline Advisers now owns 77,742 shares of the communications equipment provider’s stock worth $375,000 after purchasing an additional 23,308 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Ribbon Communications during the 4th quarter worth approximately $156,000. Finally, Virginia Retirement Systems ET AL grew its stake in shares of Ribbon Communications by 7.5% during the 4th quarter. Virginia Retirement Systems ET AL now owns 61,600 shares of the communications equipment provider’s stock worth $297,000 after acquiring an additional 4,300 shares in the last quarter. 81.75% of the stock is 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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