Ribbon Communications Inc (NASDAQ:RBBN) Given Average Rating of “Hold” by Analysts

Ribbon Communications Inc (NASDAQ:RBBN) has received an average recommendation of “Hold” from the six analysts that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation and three have given a hold recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $4.75.

Several research firms have recently weighed in on RBBN. Northland Securities lowered shares of Ribbon Communications from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $9.00 to $6.00 in a research note on Thursday, October 31st. National Securities lowered shares of Ribbon Communications from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $8.00 to $3.50 in a research note on Thursday. Zacks Investment Research lowered shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, November 6th. TheStreet upgraded shares of Ribbon Communications from a “d+” rating to a “c-” rating in a research note on Wednesday, August 21st. Finally, BidaskClub lowered shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Saturday, October 26th.

RBBN stock traded down $1.05 during midday trading on Thursday, hitting $3.00. The company’s stock had a trading volume of 2,342,800 shares, compared to its average volume of 314,902. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.21 and a quick ratio of 1.14. Ribbon Communications has a twelve month low of $2.94 and a twelve month high of $6.56. The company’s fifty day moving average price is $5.22 and its 200 day moving average price is $5.06. The stock has a market capitalization of $450.61 million, a P/E ratio of 6.25 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, October 30th. The communications equipment provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $137.65 million for the quarter, compared to analyst estimates of $156.66 million. Ribbon Communications had a return on equity of 5.02% and a net margin of 3.25%. The firm’s revenue for the quarter was down 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share. Equities analysts expect that Ribbon Communications will post -0.24 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its stake in shares of Ribbon Communications by 252,850.0% during the 2nd quarter. Bank of Montreal Can now owns 5,059 shares of the communications equipment provider’s stock worth $25,000 after purchasing an additional 5,057 shares during the last quarter. Aperio Group LLC bought a new stake in shares of Ribbon Communications during the 2nd quarter worth about $35,000. Panagora Asset Management Inc. boosted its holdings in shares of Ribbon Communications by 33.1% during the 2nd quarter. Panagora Asset Management Inc. now owns 12,380 shares of the communications equipment provider’s stock worth $61,000 after buying an additional 3,079 shares during the period. Campbell & CO Investment Adviser LLC bought a new stake in shares of Ribbon Communications during the 3rd quarter worth about $71,000. Finally, Parametric Portfolio Associates LLC bought a new stake in shares of Ribbon Communications during the 2nd quarter worth about $102,000. Institutional investors own 79.88% 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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