Ribbon Communications (NASDAQ:RBBN) Upgraded at BidaskClub

BidaskClub upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a sell rating to a hold rating in a report issued on Friday morning, BidAskClub reports.

Several other equities research analysts have also recently commented on RBBN. ValuEngine raised shares of Ribbon Communications from a sell rating to a hold rating in a research report on Tuesday, July 2nd. Zacks Investment Research raised shares of Ribbon Communications from a sell rating to a hold rating in a report on Thursday, July 4th. Finally, Northland Securities reaffirmed a buy rating on shares of Ribbon Communications in a report on Wednesday, June 12th. Three research analysts have rated the stock with a hold rating and two have issued 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 traded down $0.12 on Friday, hitting $5.24. 7,496 shares of the company’s stock were exchanged, compared to its average volume of 249,331. The business has a 50-day simple moving average of $4.88. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.75 and a current ratio of 0.82. Ribbon Communications has a 52 week low of $4.23 and a 52 week high of $7.89. The stock has a market capitalization of $570.95 million, a P/E ratio of 11.17 and a beta of 1.47.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported $0.13 EPS for the quarter, topping the consensus estimate of $0.07 by $0.06. Ribbon Communications had a net margin of 1.14% and a return on equity of 8.42%. The firm had revenue of $145.00 million for the quarter, compared to analysts’ expectations of $144.43 million. During the same period in the previous year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. Research analysts anticipate that Ribbon Communications will post 0.53 earnings per share for the current year.

In other Ribbon Communications news, CEO Franklin W. Iv Hobbs bought 100,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $4.84 per share, for a total transaction of $484,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Kent Mathy bought 20,500 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were 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 currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. BlackRock Inc. raised its position in shares of Ribbon Communications by 13.4% during 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 during the last quarter. Citigroup Inc. raised its position in shares of Ribbon Communications by 17.5% during the 4th quarter. Citigroup Inc. now owns 17,753 shares of the communications equipment provider’s stock valued at $86,000 after acquiring an additional 2,642 shares during the last quarter. Northern Trust Corp raised its position in shares of Ribbon Communications by 2.9% during the 4th quarter. Northern Trust Corp now owns 646,986 shares of the communications equipment provider’s stock valued at $3,118,000 after acquiring an additional 18,400 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ribbon Communications by 6.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,805,922 shares of the communications equipment provider’s stock valued at $18,346,000 after acquiring an additional 215,975 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ribbon Communications by 6.7% during the 4th quarter. Geode Capital Management LLC now owns 584,309 shares of the communications equipment provider’s stock valued at $2,816,000 after acquiring an additional 36,464 shares during the last quarter. Hedge funds and other institutional investors own 81.81% 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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