Ribbon Communications (NASDAQ:RBBN) Posts Quarterly Earnings Results, Meets Expectations

Ribbon Communications (NASDAQ:RBBN) issued its quarterly earnings data on Tuesday. The communications equipment provider reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04, Zacks reports. Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.

Ribbon Communications Trading Up 4.5%

Ribbon Communications stock traded up $0.06 during trading on Tuesday, hitting $1.40. The company’s stock had a trading volume of 1,898,149 shares, compared to its average volume of 940,551. The stock has a market capitalization of $250.35 million, a price-to-earnings ratio of 17.50 and a beta of 1.37. The stock’s fifty day moving average is $1.78 and its 200 day moving average is $2.27. Ribbon Communications has a 1-year low of $1.28 and a 1-year high of $3.55. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.31.

Analysts Set New Price Targets

RBBN has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ribbon Communications in a research note on Friday, August 7th. CL King set a $3.30 price target on shares of Ribbon Communications in a report on Wednesday, July 29th. Rosenblatt Securities reissued a “neutral” rating and issued a $2.20 price objective (down from $3.50) on shares of Ribbon Communications in a research report on Tuesday, September 15th. Finally, B. Riley Financial raised shares of Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price objective on the stock in a research note on Wednesday, July 29th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $3.30.

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.