Zacks Investment Research cut shares of Ribbon Communications (NASDAQ:RBBN) from a hold rating to a sell rating in a research note published on Wednesday morning, Zacks.com reports.

According to Zacks, “Ribbon Communications Inc. develops communication software. It provides session border controllers, diameter signals, policy and routing servers, media and signaling gateways, cloud and mobility solutions. Ribbon Communications Inc., formerly known as Sonus Networks Inc., is headquartered in Westford, Massachusetts. “

Several other brokerages have also recently weighed in on RBBN. Northland Securities cut Ribbon Communications from an outperform rating to a market perform rating and dropped their price objective for the company from $9.00 to $6.00 in a research note on Thursday, October 31st. BidaskClub cut Ribbon Communications from a hold rating to a sell rating in a research note on Saturday, October 26th. Finally, TheStreet raised Ribbon Communications from a d+ rating to a c- rating in a research report on Wednesday, August 21st. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Ribbon Communications currently has an average rating of Hold and an average price target of $5.88.

Shares of RBBN stock traded down $0.03 during trading hours on Wednesday, hitting $4.17. 452,200 shares of the company were exchanged, compared to its average volume of 304,321. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.21. The company has a 50 day simple moving average of $5.35 and a two-hundred day simple moving average of $5.08. Ribbon Communications has a fifty-two week low of $4.13 and a fifty-two week high of $7.00. The firm has a market cap of $480.50 million, a P/E ratio of 8.69 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, October 30th. The communications equipment provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). Ribbon Communications had a net margin of 3.25% and a return on equity of 5.02%. The company had revenue of $137.65 million for the quarter, compared to the consensus estimate of $156.66 million. During the same quarter last year, the business posted $0.18 earnings per share. Ribbon Communications’s revenue was down 9.7% on a year-over-year basis. As a group, sell-side analysts expect that Ribbon Communications will post -0.24 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Russell Investments Group Ltd. increased its position in shares of Ribbon Communications by 5.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 55,400 shares of the communications equipment provider’s stock valued at $323,000 after purchasing an additional 3,000 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Ribbon Communications by 33.1% in the 2nd quarter. Panagora Asset Management Inc. now owns 12,380 shares of the communications equipment provider’s stock worth $61,000 after acquiring an additional 3,079 shares during the last quarter. Morgan Stanley increased its holdings in Ribbon Communications by 11.7% in the 2nd quarter. Morgan Stanley now owns 37,332 shares of the communications equipment provider’s stock worth $182,000 after acquiring an additional 3,915 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Ribbon Communications by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 379,994 shares of the communications equipment provider’s stock worth $1,858,000 after acquiring an additional 4,253 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in Ribbon Communications by 252,850.0% in the 2nd quarter. Bank of Montreal Can now owns 5,059 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 5,057 shares during the last quarter. 80.42% of the stock is owned by hedge funds and other institutional investors.

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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