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

BidaskClub upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a strong sell rating to a sell rating in a report released on Thursday morning, BidAskClub reports.

Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Ribbon Communications from a hold rating to a buy rating and set a $5.75 price objective for the company in a report on Tuesday, January 8th. Northland Securities restated a buy rating and set a $9.00 price objective on shares of Ribbon Communications in a report on Tuesday, February 26th. Finally, ValuEngine upgraded shares of Ribbon Communications from a strong sell rating to a sell rating in a report on Saturday, March 9th. Two equities research 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. The company currently has a consensus rating of Hold and an average price target of $7.75.

Shares of NASDAQ RBBN opened at $5.40 on Thursday. The company has a market cap of $575.20 million, a P/E ratio of 11.25, a PEG ratio of 0.84 and a beta of 1.31. The company has a quick ratio of 0.88, a current ratio of 0.96 and a debt-to-equity ratio of 0.04. Ribbon Communications has a 52-week low of $4.62 and a 52-week high of $7.89.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, February 20th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.06. The firm had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $171.81 million. Ribbon Communications had a negative net margin of 13.29% and a positive return on equity of 8.59%. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, equities research analysts predict that Ribbon Communications will post 0.54 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in shares of Ribbon Communications by 13.4% in the fourth quarter. BlackRock Inc. now owns 4,045,401 shares of the communications equipment provider’s stock valued at $19,498,000 after buying an additional 479,112 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Ribbon Communications by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,805,922 shares of the communications equipment provider’s stock valued at $18,346,000 after buying an additional 215,975 shares during the period. Vanguard Group Inc boosted its holdings in shares of Ribbon Communications by 8.6% in the third quarter. Vanguard Group Inc now owns 3,647,288 shares of the communications equipment provider’s stock valued at $24,911,000 after buying an additional 288,331 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Ribbon Communications by 8.6% in the third quarter. Vanguard Group Inc. now owns 3,647,288 shares of the communications equipment provider’s stock valued at $24,911,000 after buying an additional 288,331 shares during the period. Finally, Royce & Associates LP boosted its holdings in shares of Ribbon Communications by 2.9% in the fourth quarter. Royce & Associates LP now owns 1,962,092 shares of the communications equipment provider’s stock valued at $9,457,000 after buying an additional 54,546 shares during the period. Institutional investors own 79.80% 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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