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

Rosenblatt Securities downgraded shares of Ribbon Communications (NASDAQ:RBBN) from a strong-buy rating to a hold rating in a research note issued to investors on Monday,Zacks reports.

Several other brokerages also recently commented on RBBN. CL King set a $3.30 target price on Ribbon Communications in a report on Wednesday, July 29th. 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, Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $3.30.

Ribbon Communications Trading Down 8.5%

RBBN opened at $1.83 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.03. Ribbon Communications has a fifty-two week low of $1.80 and a fifty-two week high of $4.09. The company’s 50 day moving average price is $2.08 and its two-hundred day moving average price is $2.35. The firm has a market capitalization of $327.24 million, a price-to-earnings ratio of 22.88 and a beta of 1.36.

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

Institutional Trading of Ribbon Communications

Several large investors have recently modified their holdings of RBBN. WINTON GROUP Ltd lifted its position in shares of Ribbon Communications by 198.1% during the 2nd quarter. WINTON GROUP Ltd now owns 149,404 shares of the communications equipment provider’s stock valued at $350,000 after acquiring an additional 99,289 shares during the period. Squarepoint Ops LLC acquired a new stake in Ribbon Communications in the second quarter worth $448,000. AXQ Capital LP acquired a new stake in Ribbon Communications in the second quarter worth $25,000. Hsbc Holdings PLC bought a new stake in Ribbon Communications in the second quarter valued at $62,000. Finally, Empowered Funds LLC bought a new stake in Ribbon Communications in the second quarter valued at $221,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Ribbon Communications

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.