Franklin W. Iv Hobbs Purchases 100,000 Shares of Ribbon Communications Inc (RBBN) Stock
Ribbon Communications Inc (NASDAQ:RBBN) CEO Franklin W. Iv Hobbs bought 100,000 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average price of $4.84 per share, with a total value of $484,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
RBBN stock traded up $0.23 during trading on Wednesday, reaching $5.15. The company had a trading volume of 589,800 shares, compared to its average volume of 330,996. Ribbon Communications Inc has a 52 week low of $4.52 and a 52 week high of $7.89. The company has a market cap of $504.90 million, a P/E ratio of 10.74, a PEG ratio of 0.88 and a beta of 1.31. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.75.
Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings results on Thursday, May 2nd. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.06). Ribbon Communications had a positive return on equity of 8.08% and a negative net margin of 10.90%. The company had revenue of $121.73 million during the quarter, compared to the consensus estimate of $129.43 million. During the same period in the previous year, the company earned ($0.04) earnings per share. Ribbon Communications’s quarterly revenue was down 10.0% on a year-over-year basis. On average, equities research analysts expect that Ribbon Communications Inc will post 0.45 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on RBBN. BidaskClub upgraded shares of Ribbon Communications from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research lowered shares of Ribbon Communications from a “hold” rating to a “sell” rating in a report on Friday, May 10th. ValuEngine lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Friday, May 3rd. Finally, Northland Securities reiterated a “buy” rating and set a $9.00 target price on shares of Ribbon Communications in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.75.
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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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