Ribbon Communications (RBBN) – Investment Analysts’ Recent Ratings Updates

Ribbon Communications (NASDAQ: RBBN) has recently received a number of price target changes and ratings updates:

  • 5/15/2019 – Ribbon Communications was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 5/14/2019 – Ribbon Communications was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 5/10/2019 – Ribbon Communications was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “Ribbon Communications Inc. develops communication software. It provides session border controllers, diameter signals, policy and routing servers, media and signaling gateways, cloud and mobility solutions. Ribbon Communications Inc., formerly known as Sonus Networks Inc., is headquartered in Westford, Massachusetts. “
  • 5/3/2019 – Ribbon Communications was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.
  • 5/3/2019 – Ribbon Communications had its “buy” rating reaffirmed by analysts at Northland Securities. They now have a $9.00 price target on the stock.
  • 4/25/2019 – Ribbon Communications was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.

NASDAQ:RBBN opened at $5.15 on Thursday. The company has a market cap of $504.90 million, a P/E ratio of 10.73, a PEG ratio of 0.88 and a beta of 1.31. The company has a quick ratio of 0.75, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. Ribbon Communications Inc has a 1-year low of $4.52 and a 1-year high of $7.89.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.06). The firm had revenue of $121.73 million for the quarter, compared to analyst estimates of $129.43 million. Ribbon Communications had a positive return on equity of 8.08% and a negative net margin of 10.90%. The business’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.04) earnings per share. As a group, equities research analysts forecast that Ribbon Communications Inc will post 0.45 earnings per share for the current year.

In related news, Director Kent Mathy acquired 20,500 shares of the company’s stock in a transaction on Wednesday, May 8th. The stock was purchased at an average cost of $4.72 per share, with a total value of $96,760.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Franklin W. Iv Hobbs acquired 100,000 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was bought 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. Company insiders own 1.66% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in RBBN. Paradigm Capital Management Inc. NY raised its holdings in Ribbon Communications by 25.9% in the 1st quarter. Paradigm Capital Management Inc. NY now owns 2,800,700 shares of the communications equipment provider’s stock valued at $14,424,000 after acquiring an additional 576,080 shares in the last quarter. BlackRock Inc. raised its holdings in Ribbon Communications by 13.4% in the 4th quarter. BlackRock Inc. now owns 4,045,401 shares of the communications equipment provider’s stock valued at $19,498,000 after acquiring an additional 479,112 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in Ribbon Communications by 121.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 803,920 shares of the communications equipment provider’s stock valued at $4,140,000 after acquiring an additional 441,400 shares in the last quarter. Kennedy Capital Management Inc. acquired a new position in Ribbon Communications in the 1st quarter valued at $2,034,000. Finally, Intrinsic Edge Capital Management LLC acquired a new position in Ribbon Communications in the 4th quarter valued at $1,467,000. 79.24% of the stock is owned by hedge funds and other institutional investors.

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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