Ribbon Communications (NASDAQ:RBBN) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of Ribbon Communications (NASDAQ:RBBN) from a buy rating to a hold rating in a report issued on Sunday.

Several other brokerages have also commented on RBBN. Weiss Ratings restated a “sell (d-)” rating on shares of Ribbon Communications in a research note on Thursday, January 22nd. Craig Hallum restated a “buy” rating and set a $3.00 price target on shares of Ribbon Communications in a research note on Wednesday, February 11th. Rosenblatt Securities dropped their price target on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Citigroup restated an “outperform” rating on shares of Ribbon Communications in a research note on Friday, February 6th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Ribbon Communications in a research note on Wednesday. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Ribbon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $3.58.

Ribbon Communications Stock Performance

Shares of RBBN opened at $2.75 on Friday. The company’s fifty day moving average is $2.34 and its 200-day moving average is $2.70. Ribbon Communications has a 12 month low of $1.80 and a 12 month high of $4.29. The firm has a market cap of $482.65 million, a price-to-earnings ratio of 16.18 and a beta of 1.26. The company has a quick ratio of 1.19, a current ratio of 1.44 and a debt-to-equity ratio of 0.72.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Tuesday, April 28th. The communications equipment provider reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.06) by $0.01. Ribbon Communications had a net margin of 3.80% and a return on equity of 24.53%. The company had revenue of $162.61 million for the quarter, compared to analyst estimates of $163.43 million. During the same quarter in the prior year, the business posted ($0.03) EPS. Ribbon Communications’s quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts expect that Ribbon Communications will post 0.02 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Ribbon Communications by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 7,691,070 shares of the communications equipment provider’s stock valued at $29,226,000 after buying an additional 166,683 shares during the last quarter. Royce & Associates LP grew its stake in Ribbon Communications by 7.2% in the 4th quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock valued at $13,290,000 after buying an additional 309,271 shares during the last quarter. State Street Corp boosted its holdings in Ribbon Communications by 0.3% in the 4th quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock valued at $6,047,000 after purchasing an additional 5,280 shares during the period. First Eagle Investment Management LLC boosted its holdings in Ribbon Communications by 0.8% in the 3rd quarter. First Eagle Investment Management LLC now owns 1,033,914 shares of the communications equipment provider’s stock valued at $3,929,000 after purchasing an additional 8,000 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Ribbon Communications by 99.6% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after purchasing an additional 481,276 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.