Brokerages Set Ribbon Communications Inc. (RBBN) Target Price at $7.56
Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have earned an average rating of “Hold” from the ten ratings firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $7.56.
Several brokerages recently commented on RBBN. Zacks Investment Research lowered Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. William Blair restated a “buy” rating on shares of Ribbon Communications in a research report on Friday, December 8th. BidaskClub lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Finally, ValuEngine lowered Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Monday, February 5th.
Institutional investors have recently made changes to their positions in the stock. Ellington Management Group LLC bought a new stake in shares of Ribbon Communications during the 4th quarter valued at about $109,000. Teacher Retirement System of Texas acquired a new position in Ribbon Communications during the 4th quarter worth approximately $110,000. Bank of Montreal Can acquired a new position in Ribbon Communications during the 4th quarter worth approximately $152,000. Two Sigma Securities LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $160,000. Finally, Nwam LLC acquired a new position in Ribbon Communications during the 4th quarter worth approximately $164,000. Institutional investors own 82.09% of the company’s stock.
Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Thursday, March 1st. The communications equipment provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.02). Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 4.79%. The company had revenue of $169.50 million during the quarter, compared to the consensus estimate of $150.25 million. During the same quarter last year, the firm posted $0.09 EPS. The company’s quarterly revenue was up 150.7% on a year-over-year basis. equities analysts expect that Ribbon Communications will post 0.39 earnings per share for the current year.
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Ribbon Communications Company Profile
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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