Ribbon Communications (RBBN) Downgraded to “Sell” at BidaskClub

Ribbon Communications (NASDAQ:RBBN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Thursday.

Several other research firms have also issued reports on RBBN. Zacks Investment Research upgraded Ribbon Communications from a “sell” rating to a “hold” rating in a research report on Saturday, April 28th. William Blair restated a “buy” rating on shares of Ribbon Communications in a research report on Monday, March 12th. ValuEngine lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Finally, TheStreet lowered Ribbon Communications from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. Ribbon Communications currently has a consensus rating of “Hold” and a consensus price target of $7.90.

Ribbon Communications opened at $5.50 on Thursday, Marketbeat.com reports. Ribbon Communications has a 12-month low of $5.53 and a 12-month high of $5.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.03 and a current ratio of 1.13. The firm has a market capitalization of $577.68 million, a PE ratio of 78.57 and a beta of 1.78.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Thursday, April 26th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Ribbon Communications had a positive return on equity of 2.70% and a negative net margin of 17.48%. The business had revenue of $135.00 million for the quarter, compared to analyst estimates of $119.14 million. Ribbon Communications’s quarterly revenue was up 152.8% compared to the same quarter last year. analysts forecast that Ribbon Communications will post -0.03 EPS for the current fiscal year.

In other Ribbon Communications news, CEO Franklin W. Iv Hobbs bought 75,000 shares of Ribbon Communications stock in a transaction on Monday, March 5th. The shares were purchased at an average cost of $5.66 per share, for a total transaction of $424,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Bruns H. Grayson bought 100,000 shares of Ribbon Communications stock in a transaction on Thursday, March 15th. The shares were acquired at an average price of $5.17 per share, for a total transaction of $517,000.00. The disclosure for this purchase can be found here. Insiders own 7.68% of the company’s stock.

A number of hedge funds have recently bought and sold shares of RBBN. Ellington Management Group LLC bought a new position in Ribbon Communications during the fourth quarter worth about $109,000. Teacher Retirement System of Texas bought a new position in Ribbon Communications during the fourth quarter worth about $110,000. SG Americas Securities LLC bought a new position in Ribbon Communications during the first quarter worth about $116,000. Jane Street Group LLC acquired a new stake in shares of Ribbon Communications in the 1st quarter valued at about $141,000. Finally, Bank of Montreal Can acquired a new stake in shares of Ribbon Communications in the 4th quarter valued at about $152,000. Hedge funds and other institutional investors own 79.23% 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, 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.

Analyst Recommendations for Ribbon Communications (NASDAQ:RBBN)

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