Shares of Ribbon Communications Inc (NASDAQ:RBBN) have been given a consensus recommendation of “Hold” by the seven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $8.50.
Several brokerages recently commented on RBBN. BidaskClub upgraded DENTSPLY SIRONA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 13th. Northland Securities reiterated a “buy” rating on shares of Ribbon Communications in a research report on Wednesday, June 12th. ValuEngine cut Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research cut GENEL ENERGY PL/ADR from a “hold” rating to a “sell” rating in a research report on Thursday, July 4th.
In other Ribbon Communications news, CEO Franklin W. Iv Hobbs purchased 100,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were acquired at an average price of $4.84 per share, with a total value of $484,000.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Kent Mathy purchased 20,500 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was acquired at an average cost 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 corporate insiders.
Shares of Ribbon Communications stock traded up $0.03 on Friday, reaching $4.91. The company’s stock had a trading volume of 136,419 shares, compared to its average volume of 280,624. The firm has a market capitalization of $523.01 million, a P/E ratio of 10.23 and a beta of 1.46. Ribbon Communications has a 52-week low of $4.23 and a 52-week high of $7.89. The business has a 50-day simple moving average of $4.71. 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 posted its quarterly earnings data on Thursday, May 2nd. The communications equipment provider reported ($0.05) 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 business had revenue of $121.73 million during the quarter, compared to analysts’ expectations of $129.43 million. During the same quarter last year, the firm earned ($0.04) earnings per share. The firm’s quarterly revenue was down 10.0% compared to the same quarter last year. Research analysts expect that Ribbon Communications will post 0.53 earnings per share for the current year.
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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