Ribbon Communications (RBBN) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a strong-buy rating in a research report released on Wednesday. Zacks Investment Research currently has $7.75 target price on the communications equipment provider’s stock.

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) “

A number of other brokerages have also recently weighed in on RBBN. BidaskClub cut shares of Ribbon Communications from a buy rating to a hold rating in a research report on Wednesday, August 29th. ValuEngine upgraded shares of Ribbon Communications from a strong sell rating to a sell rating in a research report on Thursday, November 1st. Cowen upgraded shares of Ribbon Communications from an underperform rating to a market perform rating in a research report on Wednesday, August 1st. William Blair reiterated a buy rating on shares of Ribbon Communications in a research report on Tuesday, July 31st. Finally, National Securities assumed coverage on shares of Ribbon Communications in a research report on Monday, October 22nd. They set a buy rating and a $8.50 price target for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $8.13.

Shares of RBBN traded down $0.18 during trading on Wednesday, reaching $6.75. 315,328 shares of the company traded hands, compared to its average volume of 270,310. Ribbon Communications has a twelve month low of $4.97 and a twelve month high of $8.36. The stock has a market cap of $724.33 million, a PE ratio of 96.43, a P/E/G ratio of 1.30 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.91 and a quick ratio of 0.83.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Tuesday, October 30th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.06. Ribbon Communications had a negative net margin of 16.28% and a positive return on equity of 6.72%. The business had revenue of $152.46 million during the quarter, compared to analysts’ expectations of $138.40 million. During the same period last year, the business earned $0.14 earnings per share. The business’s revenue for the quarter was up 104.4% on a year-over-year basis. As a group, sell-side analysts expect that Ribbon Communications will post 0.44 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of Ribbon Communications in the first quarter valued at approximately $141,000. Ramsey Quantitative Systems boosted its stake in shares of Ribbon Communications by 397.2% in the third quarter. Ramsey Quantitative Systems now owns 30,882 shares of the communications equipment provider’s stock valued at $211,000 after purchasing an additional 24,671 shares during the period. Rhumbline Advisers boosted its stake in shares of Ribbon Communications by 17.0% in the second quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after purchasing an additional 7,912 shares during the period. Virginia Retirement Systems ET AL purchased a new position in shares of Ribbon Communications in the second quarter valued at approximately $396,000. Finally, California Public Employees Retirement System boosted its stake in shares of Ribbon Communications by 11.0% in the second quarter. California Public Employees Retirement System now owns 111,902 shares of the communications equipment provider’s stock valued at $797,000 after purchasing an additional 11,102 shares during the period. 80.50% of the stock is owned by institutional investors and hedge funds.

About Ribbon Communications

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the 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 to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

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