Ribbon Communications (RBBN) Trading Down 11%
Ribbon Communications Inc. (NASDAQ:RBBN) traded down 11% during mid-day trading on Thursday . The company traded as low as $7.30 and last traded at $7.41. 752,768 shares were traded during mid-day trading, an increase of 99% from the average session volume of 378,523 shares. The stock had previously closed at $8.33.
A number of equities research analysts have recently issued reports on the stock. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a report on Friday, December 8th. TheStreet raised shares of Ribbon Communications from a “d+” rating to a “c” rating in a report on Monday, October 23rd. Zacks Investment Research raised shares of Ribbon Communications from a “hold” rating to a “strong-buy” rating and set a $8.25 target price on the stock in a report on Thursday, October 19th. Finally, Cowen reaffirmed a “sell” rating on shares of Ribbon Communications in a report on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.25.
Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Ribbon Communications had a negative net margin of 8.82% and a negative return on equity of 1.87%. The firm had revenue of $74.60 million for the quarter, compared to analyst estimates of $68.50 million. During the same quarter last year, the business posted $0.12 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis. equities research analysts expect that Ribbon Communications Inc. will post 0.09 earnings per share for the current fiscal year.
Ribbon Communications Company Profile
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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