Ribbon Communications Inc (NASDAQ:RBBN) hit a new 52-week low on Friday following a dissappointing earnings announcement. The stock traded as low as $4.52 and last traded at $4.64, with a volume of 37511 shares. The stock had previously closed at $5.32.
The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.06). The company had revenue of $121.73 million for the quarter, compared to the consensus estimate of $129.43 million. Ribbon Communications had a negative net margin of 13.29% and a positive return on equity of 8.59%. The firm’s revenue was down 10.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) earnings per share.
A number of brokerages have issued reports on RBBN. BidaskClub cut Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Saturday, February 2nd. ValuEngine raised Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Saturday, March 9th. Northland Securities reaffirmed a “buy” rating and issued a $9.00 price target on shares of Ribbon Communications in a report on Tuesday, February 26th. Finally, Zacks Investment Research cut Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $7.75.
The firm has a market capitalization of $566.68 million, a price-to-earnings ratio of 9.71, a PEG ratio of 0.83 and a beta of 1.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.88.
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Ribbon Communications Company Profile (NASDAQ:RBBN)
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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