Ribbon Communications Inc (RBBN) Given Consensus Recommendation of “Hold” by Analysts

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Shares of Ribbon Communications Inc (NASDAQ:RBBN) have been given an average recommendation of “Hold” by the seven analysts that are covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.75.

RBBN has been the subject of several research reports. Northland Securities reissued a “buy” rating and set a $9.00 price objective on shares of Ribbon Communications in a report on Tuesday, February 26th. BidaskClub raised Ribbon Communications from a “sell” rating to a “hold” rating in a report on Tuesday, May 14th. Zacks Investment Research lowered Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. Finally, ValuEngine raised Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 15th.

In related news, Director Kent Mathy purchased 20,500 shares of the business’s stock in a transaction dated 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the business’s stock in a transaction dated 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. 1.66% of the stock is currently owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp boosted its holdings in shares of Ribbon Communications by 0.3% in the first quarter. Northern Trust Corp now owns 649,096 shares of the communications equipment provider’s stock worth $3,343,000 after acquiring an additional 2,110 shares during the period. Citigroup Inc. boosted its holdings in shares of Ribbon Communications by 17.5% in the fourth quarter. Citigroup Inc. now owns 17,753 shares of the communications equipment provider’s stock worth $86,000 after acquiring an additional 2,642 shares during the period. Prudential Financial Inc. boosted its holdings in shares of Ribbon Communications by 23.3% in the fourth quarter. Prudential Financial Inc. now owns 15,666 shares of the communications equipment provider’s stock worth $76,000 after acquiring an additional 2,963 shares during the period. Legal & General Group Plc boosted its holdings in shares of Ribbon Communications by 37.8% in the fourth quarter. Legal & General Group Plc now owns 11,350 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 3,112 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Ribbon Communications by 12.2% in the first quarter. The Manufacturers Life Insurance Company now owns 38,293 shares of the communications equipment provider’s stock worth $197,000 after acquiring an additional 4,169 shares during the period. 80.43% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ RBBN opened at $4.63 on Friday. Ribbon Communications has a 1-year low of $4.52 and a 1-year high of $7.89. The firm has a market cap of $528.34 million, a price-to-earnings ratio of 9.65, a PEG ratio of 0.92 and a beta of 1.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.75.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). Ribbon Communications had a negative net margin of 10.90% and a positive return on equity of 8.08%. The firm had revenue of $121.73 million for the quarter, compared to the consensus estimate of $129.43 million. During the same period last year, the company posted ($0.04) earnings per share. Ribbon Communications’s revenue for the quarter was down 10.0% on a year-over-year basis. Analysts anticipate that Ribbon Communications will post 0.45 earnings per share for the current year.

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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