Ribbon Communications (NASDAQ:RBBN) Downgraded to “Hold” Rating by Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN) was downgraded by equities research analysts at Rosenblatt Securities from a “strong-buy” rating to a “hold” rating in a report issued on Monday, Zacks reports.

A number of other research analysts have also weighed in on RBBN. B. Riley Financial raised Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 target price for the company in a report on Wednesday, July 29th. CL King set a $3.30 price objective on shares of Ribbon Communications in a research report on Wednesday, July 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $3.30.

Ribbon Communications Price Performance

Ribbon Communications stock opened at $1.83 on Monday. Ribbon Communications has a one year low of $1.80 and a one year high of $4.09. The business has a fifty day moving average price of $2.08 and a 200-day moving average price of $2.35. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.03. The firm has a market capitalization of $327.24 million, a P/E ratio of 22.88 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%. The company had revenue of $192.34 million for the quarter, compared to the consensus estimate of $189.99 million. During the same quarter in the previous year, the firm posted $0.05 earnings per share. The business’s revenue for the quarter was down 13.0% compared to the same quarter last year. As a group, equities research analysts forecast that Ribbon Communications will post -0.05 EPS for the current year.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBBN. BlackRock Inc. bought a new stake in Ribbon Communications during the second quarter worth about $16,723,000. Paradigm Capital Management Inc. NY purchased a new position in shares of Ribbon Communications in the 2nd quarter worth about $7,105,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Ribbon Communications during the 2nd quarter valued at about $5,179,000. Bank of New York Mellon Corp bought a new position in shares of Ribbon Communications during the 2nd quarter valued at about $889,000. Finally, Royce & Associates LP raised its holdings in shares of Ribbon Communications by 7.2% during the 4th quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock valued at $13,290,000 after buying an additional 309,271 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

Ribbon Communications Company Profile

Ribbon Communications Inc (NASDAQ: RBBN) provides communications technology for telecommunications service providers, enterprises and government organizations. The company develops software, hardware and related services that help customers build, operate and secure voice, video and data networks across cloud, IP and optical environments.

Its portfolio includes session border controllers, communications platforms, voice and unified communications solutions, network transformation software, signaling and routing products, and cybersecurity capabilities.