Zacks Investment Research downgraded shares of Ribbon Communications (NASDAQ:RBBN) from a strong-buy rating to a hold rating in a report released on Thursday.
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) “
Several other research firms also recently issued reports on RBBN. Cowen reaffirmed a sell rating on shares of Ribbon Communications in a research note on Tuesday, October 17th. William Blair reaffirmed a buy rating on shares of Ribbon Communications in a research note on Monday, October 30th. Finally, TheStreet raised Ribbon Communications from a d+ rating to a c rating in a research note on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company has an average rating of Hold and a consensus target price of $7.25.
Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.08. Ribbon Communications had a negative return on equity of 1.87% and a negative net margin of 8.82%. The company had revenue of $74.60 million during the quarter, compared to the consensus estimate of $68.50 million. During the same quarter in the prior year, the firm posted $0.12 earnings per share. The firm’s revenue was up 14.8% compared to the same quarter last year. analysts forecast that Ribbon Communications will post 0.09 EPS for the current fiscal year.
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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