Rosenblatt Securities Downgrades Ribbon Communications (NASDAQ:RBBN) to Hold

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

A number of other research firms also recently commented on RBBN. Weiss Ratings reiterated a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th. B. Riley Financial raised Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target for the company in a research note on Wednesday, July 29th. Finally, CL King set a $3.30 price target on Ribbon Communications in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $3.30.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $1.83 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.31. The firm has a fifty day moving average price of $2.08 and a 200 day moving average price of $2.35. Ribbon Communications has a fifty-two week low of $1.80 and a fifty-two week high of $4.09. The firm has a market cap of $327.24 million, a price-to-earnings ratio of 22.88 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results 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). The company had revenue of $192.34 million during the quarter, compared to the consensus estimate of $189.99 million. Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%. The business’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.05 earnings per share. As a group, sell-side analysts expect that Ribbon Communications will post -0.05 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Ribbon Communications during the 2nd quarter valued at about $16,723,000. Royce & Associates LP grew its position in Ribbon Communications by 7.2% in the fourth quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock worth $13,290,000 after acquiring an additional 309,271 shares in the last quarter. Paradigm Capital Management Inc. NY purchased a new position in Ribbon Communications in the second quarter worth about $7,105,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Ribbon Communications during the second quarter worth approximately $5,179,000. Finally, First Wilshire Securities Management Inc. increased its stake in Ribbon Communications by 11.0% during the first quarter. First Wilshire Securities Management Inc. now owns 1,407,178 shares of the communications equipment provider’s stock worth $2,983,000 after acquiring an additional 139,592 shares during the last quarter. 70.92% of the stock is 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.