Ribbon Communications (RBBN) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a sell rating in a report released on Thursday morning.
According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “
Other equities research analysts have also issued reports about the stock. BidaskClub lowered shares of Ribbon Communications from a buy rating to a hold rating in a research report on Thursday, January 11th. ValuEngine lowered shares of Ribbon Communications from a hold rating to a sell rating in a research report on Monday, February 5th. Finally, William Blair reiterated a buy rating on shares of Ribbon Communications in a research report on Friday, December 8th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $7.25.
Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Thursday, March 1st. The communications equipment provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). Ribbon Communications had a positive return on equity of 4.79% and a negative net margin of 10.68%. The business had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter in the prior year, the firm earned $0.09 earnings per share. Ribbon Communications’s quarterly revenue was up 150.7% on a year-over-year basis. equities analysts anticipate that Ribbon Communications will post 0.39 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP purchased a new position in Ribbon Communications in the 4th quarter valued at about $31,591,000. BlackRock Inc. purchased a new position in Ribbon Communications in the 4th quarter valued at about $24,599,000. Renaissance Technologies LLC purchased a new position in Ribbon Communications in the 4th quarter valued at about $13,486,000. Central Securities Corp purchased a new position in Ribbon Communications in the 4th quarter valued at about $9,396,000. Finally, Royce & Associates LP purchased a new position in Ribbon Communications in the 4th quarter valued at about $5,290,000. Institutional investors own 83.83% of the company’s stock.
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About Ribbon Communications
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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