Ribbon Communications (RBBN) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a sell rating in a research note published on Friday, Zacks.com reports.

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. “

A number of other research analysts have also issued reports on the stock. Northland Securities restated a buy rating and set a $9.00 price target on shares of Ribbon Communications in a research note on Friday, May 3rd. ValuEngine lowered shares of Ribbon Communications from a sell rating to a strong sell rating in a research note on Friday, May 3rd. Finally, BidaskClub upgraded shares of Ribbon Communications from a strong sell rating to a sell rating in a research note on Thursday, April 25th. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $7.75.



Shares of Ribbon Communications stock opened at $4.74 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.75 and a debt-to-equity ratio of 0.11. Ribbon Communications has a 12-month low of $4.52 and a 12-month high of $7.89. The company has a market cap of $503.84 million, a price-to-earnings ratio of 9.88, a P/E/G ratio of 0.88 and a beta of 1.31.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly 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). Ribbon Communications had a negative net margin of 10.90% and a positive return on equity of 8.08%. The company had revenue of $121.73 million for the quarter, compared to analyst estimates of $129.43 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The company’s revenue for the quarter was down 10.0% compared to the same quarter last year. Research analysts forecast that Ribbon Communications will post 0.45 EPS for the current year.

In related news, Director Kent Mathy purchased 20,500 shares of the business’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 transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 1.66% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new position in Ribbon Communications during the first quarter valued at $84,000. The Manufacturers Life Insurance Company lifted its holdings in Ribbon Communications by 12.2% during the first quarter. The Manufacturers Life Insurance Company now owns 38,293 shares of the communications equipment provider’s stock valued at $197,000 after purchasing an additional 4,169 shares in the last quarter. Neuberger Berman Group LLC lifted its holdings in Ribbon Communications by 8.2% during the first quarter. Neuberger Berman Group LLC now owns 2,136,159 shares of the communications equipment provider’s stock valued at $11,000,000 after purchasing an additional 161,763 shares in the last quarter. Northern Trust Corp lifted its holdings in Ribbon Communications by 0.3% during the first quarter. Northern Trust Corp now owns 649,096 shares of the communications equipment provider’s stock valued at $3,343,000 after purchasing an additional 2,110 shares in the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in Ribbon Communications during the first quarter valued at $2,034,000. Hedge funds and other institutional investors own 79.50% of the company’s stock.

About Ribbon Communications

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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