Ribbon Communications (RBBN) Downgraded by Zacks Investment Research to “Hold”

Ribbon Communications (NASDAQ:RBBN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.

According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “

Several other equities analysts have also recently weighed in on RBBN. William Blair reiterated a “buy” rating on shares of Ribbon Communications in a report on Tuesday, July 31st. Cowen upgraded Ribbon Communications from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 1st. BidaskClub cut Ribbon Communications from a “strong-buy” rating to a “buy” rating in a report on Wednesday, August 8th. ValuEngine cut Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Monday, October 8th. Finally, National Securities initiated coverage on Ribbon Communications in a report on Monday, October 22nd. They set a “buy” rating and a $8.50 price objective on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $7.75.

Shares of RBBN opened at $6.75 on Friday. The company has a current ratio of 0.91, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04. Ribbon Communications has a 1 year low of $4.97 and a 1 year high of $8.36. The stock has a market cap of $719.00 million, a price-to-earnings ratio of 16.88, a P/E/G ratio of 1.52 and a beta of 1.52.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Tuesday, October 30th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.06. Ribbon Communications had a positive return on equity of 6.72% and a negative net margin of 16.28%. The firm had revenue of $152.46 million for the quarter, compared to analysts’ expectations of $138.40 million. During the same quarter last year, the business earned $0.14 earnings per share. The company’s revenue was up 104.4% compared to the same quarter last year. As a group, equities analysts predict that Ribbon Communications will post 0.37 earnings per share for the current year.

Several large investors have recently added to or reduced their stakes in RBBN. Jane Street Group LLC bought a new position in shares of Ribbon Communications during the 1st quarter valued at about $141,000. Ramsey Quantitative Systems lifted its holdings in shares of Ribbon Communications by 397.2% during the 3rd quarter. Ramsey Quantitative Systems now owns 30,882 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 24,671 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Ribbon Communications by 17.0% during the 2nd quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after purchasing an additional 7,912 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Ribbon Communications during the 2nd quarter valued at about $396,000. Finally, California Public Employees Retirement System lifted its holdings in shares of Ribbon Communications by 11.0% during the 2nd quarter. California Public Employees Retirement System now owns 111,902 shares of the communications equipment provider’s stock valued at $797,000 after purchasing an additional 11,102 shares in the last quarter. Institutional investors and hedge funds own 80.48% of the company’s stock.

About Ribbon Communications

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the 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 to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

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