Ribbon Communications (NASDAQ:RBBN) Stock Gets Price Target Trim from Rosenblatt Securities

Ribbon Communications (NASDAQ:RBBN) had its price target decreased by Rosenblatt Securities from $2.20 to $1.80 in a research report released on Wednesday, Marketbeat.com reports. Rosenblatt Securities currently has a neutral rating on the communications equipment provider’s stock.

Other equities analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ribbon Communications in a report on Friday, August 7th. B. Riley Financial raised Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 target price for the company in a report on Wednesday, July 29th. Finally, CL King set a $3.30 target price on Ribbon Communications in a report on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $3.20.

Ribbon Communications Stock Down 4.9%

Shares of NASDAQ:RBBN opened at $1.55 on Wednesday. The firm has a 50 day simple moving average of $1.75 and a 200-day simple moving average of $2.24. Ribbon Communications has a twelve month low of $1.28 and a twelve month high of $3.43. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $277.71 million, a PE ratio of 3.47 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Tuesday, October 27th. The communications equipment provider reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Ribbon Communications had a net margin of 2.32% and a return on equity of 20.61%. The firm had revenue of $218.71 million for the quarter, compared to the consensus estimate of $221.75 million. During the same period last year, the firm posted $0.04 EPS. The company’s revenue was up 1.7% on a year-over-year basis. On average, equities analysts predict that Ribbon Communications will post -0.05 EPS for the current fiscal year.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in Ribbon Communications during the second quarter worth $16,723,000. Paradigm Capital Management Inc. NY acquired a new stake in Ribbon Communications in the second quarter valued at $7,105,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Ribbon Communications in the second quarter valued at $5,179,000. First Wilshire Securities Management Inc. lifted its holdings in Ribbon Communications by 11.0% in the first quarter. First Wilshire Securities Management Inc. now owns 1,407,178 shares of the communications equipment provider’s stock valued at $2,983,000 after acquiring an additional 139,592 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of Ribbon Communications by 18.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,216,876 shares of the communications equipment provider’s stock worth $2,580,000 after purchasing an additional 187,160 shares in the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

About Ribbon Communications

Ribbon Communications Inc (NASDAQ: RBBN) provides communications software, networking solutions and related services for service providers, enterprises and government organizations. The company helps customers build, operate and secure voice, data and unified communications networks across cloud, IP and optical environments.

Ribbon’s offerings include session border controllers, voice and unified communications platforms, signaling and routing solutions, policy and analytics tools, and software designed to support cloud communications and 5G networks.