Ribbon Communications (RBBN) Hits New 52-Week Low at $5.42

Ribbon Communications Inc. (NASDAQ:RBBN) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $5.42 and last traded at $5.41, with a volume of 1389483 shares changing hands. The stock had previously closed at $5.81.

A number of brokerages have recently issued reports on RBBN. BidaskClub lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday. ValuEngine lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research note on Tuesday. William Blair restated a “buy” rating on shares of Ribbon Communications in a research note on Monday. Finally, Zacks Investment Research lowered 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 issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $7.25.

The firm has a market cap of $537.16, a P/E ratio of -8.80 and a beta of 1.66. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.04.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Thursday, March 1st. The communications equipment provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). The business had revenue of $169.50 million for the quarter, compared to analyst estimates 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 was up 150.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 EPS. analysts expect that Ribbon Communications Inc. will post -0.28 earnings per share for the current year.

In other Ribbon Communications news, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were purchased at an average price of $5.66 per share, for a total transaction of $424,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.68% of the stock is owned by corporate insiders.

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 fourth quarter worth about $152,000. Schwab Charles Investment Management Inc. bought a new position in Ribbon Communications in the 4th quarter worth about $1,705,000. Strs Ohio bought a new position in Ribbon Communications in the 4th quarter worth about $469,000. Horrell Capital Management Inc. bought a new position in Ribbon Communications in the 4th quarter worth about $2,441,000. Finally, Cowen Prime Services LLC bought a new position in Ribbon Communications in the 4th quarter worth about $4,398,000. Hedge funds and other institutional investors own 83.86% of the company’s stock.

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Ribbon Communications Company Profile

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.

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