Ribbon Communications (NASDAQ:RBBN – Get Rating) announced its quarterly earnings data on Wednesday. The communications equipment provider reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.03, MarketWatch Earnings reports. Ribbon Communications had a positive return on equity of 2.76% and a negative net margin of 24.53%.
Shares of RBBN traded up $0.15 during mid-day trading on Friday, hitting $3.45. 639,425 shares of the company’s stock traded hands, compared to its average volume of 237,553. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 1.24. The business’s 50-day moving average price is $3.12 and its 200-day moving average price is $4.69. Ribbon Communications has a 1 year low of $2.74 and a 1 year high of $8.31.
In other Ribbon Communications news, Director Bruns H. Grayson acquired 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was bought at an average price of $2.81 per share, for a total transaction of $281,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Bruce William Mcclelland acquired 15,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The shares were acquired at an average price of $2.81 per share, with a total value of $42,150.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 118,000 shares of company stock valued at $332,060. 1.77% of the stock is owned by company insiders.
A number of brokerages have commented on RBBN. StockNews.com began coverage on Ribbon Communications in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. B. Riley decreased their price target on Ribbon Communications from $8.00 to $7.00 in a research note on Thursday. Northland Securities decreased their price target on Ribbon Communications from $10.00 to $6.50 in a research note on Thursday, February 17th. TheStreet cut Ribbon Communications from a “c” rating to a “d” rating in a research note on Friday, February 18th. Finally, Zacks Investment Research raised Ribbon Communications from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Ribbon Communications presently has a consensus rating of “Buy” and a consensus price target of $7.08.
About Ribbon Communications (Get Rating)
Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.
- Get a free copy of the StockNews.com research report on Ribbon Communications (RBBN)
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