BidaskClub Upgrades Ribbon Communications (NASDAQ:RBBN) to “Sell”

Ribbon Communications (NASDAQ:RBBN) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a report issued on Friday, April 13th.

Several other analysts also recently issued reports on the stock. TheStreet downgraded shares of Ribbon Communications from a “c-” rating to a “d+” rating in a report on Friday, March 16th. ValuEngine downgraded shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Tuesday, March 13th. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a report on Monday, March 12th. Finally, Zacks Investment Research downgraded shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, March 1st. Four analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $7.25.

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Shares of Ribbon Communications stock opened at $5.35 on Friday. Ribbon Communications has a 52-week low of $4.97 and a 52-week high of $9.05. The company has a current ratio of 1.16, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The stock has a market cap of $545.32, a PE ratio of 76.43 and a beta of 1.77.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly 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). Ribbon Communications had a positive return on equity of 3.22% and a negative net margin of 10.68%. The firm had revenue of $169.50 million for the quarter, compared to analyst estimates of $150.25 million. During the same quarter last year, the firm earned $0.09 earnings per share. The company’s revenue was up 150.7% compared to the same quarter last year. equities analysts anticipate that Ribbon Communications will post -0.28 earnings per share for the current fiscal year.

In other Ribbon Communications news, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the company’s stock in a transaction dated Monday, March 5th. The stock was 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 Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael R. Swade sold 13,979 shares of the stock in a transaction on 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. Corporate insiders own 7.68% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RBBN. Bank of Montreal Can acquired a new stake in Ribbon Communications during the 4th quarter valued at $152,000. Schwab Charles Investment Management Inc. acquired a new stake in Ribbon Communications during the 4th quarter valued at $1,705,000. Strs Ohio acquired a new stake in Ribbon Communications during the 4th quarter valued at $469,000. Horrell Capital Management Inc. acquired a new stake in Ribbon Communications during the 4th quarter valued at $2,441,000. Finally, Cowen Prime Services LLC acquired a new stake in Ribbon Communications during the 4th quarter valued at $4,398,000. 84.45% of the stock is owned by institutional investors and hedge funds.

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About Ribbon Communications

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.

Analyst Recommendations for Ribbon Communications (NASDAQ:RBBN)

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