Northland Securities restated their hold rating on shares of Ribbon Communications (NASDAQ:RBBN) in a report released on Friday morning, AnalystRatings.com reports. They currently have a $6.00 price objective on the communications equipment provider’s stock.

Several other equities analysts have also recently commented on RBBN. National Securities cut shares of Ribbon Communications from a buy rating to a neutral rating and dropped their target price for the company from $8.00 to $3.50 in a research report on Thursday, November 14th. BidaskClub cut shares of Ribbon Communications from a hold rating to a sell rating in a research report on Saturday, October 26th. TheStreet upgraded shares of Ribbon Communications from a d+ rating to a c- rating in a research report on Wednesday, August 21st. Finally, Zacks Investment Research cut shares of Ribbon Communications from a hold rating to a sell rating in a research report on Wednesday, November 6th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. Ribbon Communications currently has an average rating of Hold and an average price target of $5.08.

Shares of NASDAQ:RBBN traded down $0.06 during midday trading on Friday, hitting $2.68. The stock had a trading volume of 30,448 shares, compared to its average volume of 549,915. The company’s 50-day moving average price is $4.92 and its 200-day moving average price is $5.00. The company has a market capitalization of $304.47 million, a P/E ratio of 5.63 and a beta of 1.37. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.13. Ribbon Communications has a fifty-two week low of $2.65 and a fifty-two week high of $6.56.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, October 30th. The communications equipment provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $137.65 million during the quarter, compared to analyst estimates of $156.66 million. Ribbon Communications had a net margin of 3.25% and a return on equity of 5.02%. Ribbon Communications’s quarterly revenue was down 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.18 earnings per share. Research analysts expect that Ribbon Communications will post -0.24 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its position in shares of Ribbon Communications by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,994 shares of the communications equipment provider’s stock valued at $1,858,000 after buying an additional 4,253 shares in the last quarter. Bailard Inc. acquired a new position in Ribbon Communications during the 3rd quarter worth approximately $189,000. First Trust Advisors LP increased its position in Ribbon Communications by 8.8% during the 2nd quarter. First Trust Advisors LP now owns 250,932 shares of the communications equipment provider’s stock worth $1,227,000 after purchasing an additional 20,232 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new position in Ribbon Communications during the 3rd quarter worth approximately $71,000. Finally, Virginia Retirement Systems ET AL increased its position in Ribbon Communications by 103.0% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 142,700 shares of the communications equipment provider’s stock worth $698,000 after purchasing an additional 72,400 shares in the last quarter. Institutional investors own 80.13% 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, 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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