Ribbon Communications (RBBN) Upgraded at ValuEngine

ValuEngine upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a strong sell rating to a sell rating in a research note issued to investors on Wednesday, ValuEngine reports.

Other analysts have also recently issued reports about the company. BidaskClub upgraded Ribbon Communications from a strong sell rating to a sell rating in a research note on Thursday, April 25th. Northland Securities restated a buy rating and issued a $9.00 price target on shares of Ribbon Communications in a research note on Friday, May 3rd. Finally, Zacks Investment Research cut Ribbon Communications from a buy rating to a hold rating in a research note on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $7.75.

NASDAQ:RBBN opened at $4.89 on Wednesday. The firm has a market capitalization of $520.88 million, a P/E ratio of 10.87, a P/E/G ratio of 0.91 and a beta of 1.31. Ribbon Communications has a 12-month low of $4.52 and a 12-month high of $7.89. 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 (NASDAQ:RBBN) last released its earnings results on Thursday, May 2nd. 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 during the quarter, compared to analysts’ expectations of $129.43 million. Ribbon Communications had a negative net margin of 10.90% and a positive return on equity of 8.08%. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.04) earnings per share. Equities research analysts predict that Ribbon Communications will post 0.45 earnings per share for the current year.

In other Ribbon Communications news, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $4.84 per share, for a total transaction of $484,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kent Mathy purchased 20,500 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was acquired at an average price of $4.72 per share, for a total transaction of $96,760.00. The disclosure for this purchase can be found here. 1.66% of the stock is owned by company insiders.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Ribbon Communications by 13.4% in the fourth quarter. BlackRock Inc. now owns 4,045,401 shares of the communications equipment provider’s stock valued at $19,498,000 after buying an additional 479,112 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ribbon Communications by 3.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,921,496 shares of the communications equipment provider’s stock worth $20,196,000 after purchasing an additional 115,574 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Ribbon Communications by 8.6% during the third 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. Vanguard Group Inc increased its position in shares of Ribbon Communications by 8.6% during the third 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. Finally, Paradigm Capital Management Inc. NY increased its position in shares of Ribbon Communications by 25.9% during the first quarter. Paradigm Capital Management Inc. NY now owns 2,800,700 shares of the communications equipment provider’s stock worth $14,424,000 after purchasing an additional 576,080 shares in the last quarter. Institutional investors own 79.24% of the company’s stock.

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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