Ribbon Communications Inc. (NASDAQ:RBBN) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have been given an average recommendation of “Moderate Buy” by the six analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $3.30.

RBBN has been the topic of a number of recent research reports. CL King set a $3.30 price objective on shares of Ribbon Communications in a research note on Wednesday, July 29th. Rosenblatt Securities reiterated a “neutral” rating and set a $2.20 target price (down from $3.50) on shares of Ribbon Communications in a research report on Tuesday. Weiss Ratings reissued a “sell (d)” rating on shares of Ribbon Communications in a research note on Friday, August 7th. Finally, B. Riley Financial upgraded Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target on the stock in a research report on Wednesday, July 29th.

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $1.72 on Friday. The company has a market cap of $307.57 million, a PE ratio of 21.50 and a beta of 1.36. The company has a current ratio of 1.31, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. Ribbon Communications has a 1 year low of $1.55 and a 1 year high of $4.09. The company’s 50-day moving average is $2.04 and its two-hundred day moving average is $2.34.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The business had revenue of $192.34 million for the quarter, compared to analyst estimates of $189.99 million. Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.05 EPS. Equities analysts anticipate that Ribbon Communications will post -0.05 earnings per share for the current year.

Hedge Funds Weigh In On Ribbon Communications

Institutional investors have recently modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Ribbon Communications in the 2nd quarter valued at about $16,723,000. Royce & Associates LP boosted its stake in Ribbon Communications by 7.2% during the 4th quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock worth $13,290,000 after acquiring an additional 309,271 shares during the last quarter. Paradigm Capital Management Inc. NY acquired a new position in Ribbon Communications during the second quarter valued at approximately $7,105,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Ribbon Communications during the second quarter valued at approximately $5,179,000. Finally, First Wilshire Securities Management Inc. increased its stake 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 purchasing an additional 139,592 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.

Ribbon Communications Company Profile

Ribbon Communications Inc (NASDAQ: RBBN) provides communications technology for telecommunications service providers, enterprises and government organizations. The company develops software, hardware and related services that help customers build, operate and secure voice, video and data networks across cloud, IP and optical environments.

Its portfolio includes session border controllers, communications platforms, voice and unified communications solutions, network transformation software, signaling and routing products, and cybersecurity capabilities.