Ribbon Communications (NASDAQ:RBBN) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

Ribbon Communications (NASDAQ:RBBN) issued its quarterly earnings results on Tuesday. The communications equipment provider reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.04), Zacks reports. Ribbon Communications had a return on equity of 24.14% and a net margin of 3.80%.

Ribbon Communications Price Performance

Shares of RBBN stock traded up $0.01 during trading hours on Tuesday, reaching $2.05. The company’s stock had a trading volume of 943,623 shares, compared to its average volume of 900,799. Ribbon Communications has a fifty-two week low of $1.80 and a fifty-two week high of $4.24. The firm’s 50 day simple moving average is $2.51 and its 200-day simple moving average is $2.46. The company has a quick ratio of 1.09, a current ratio of 1.37 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $361.08 million, a price-to-earnings ratio of 12.06 and a beta of 1.34.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently modified their holdings of RBBN. Mackenzie Financial Corp bought a new position in Ribbon Communications in the fourth quarter valued at about $31,000. nVerses Capital LLC bought a new position in shares of Ribbon Communications in the fourth quarter worth about $37,000. Susquehanna Fundamental Investments LLC boosted its stake in shares of Ribbon Communications by 196.4% in the 4th quarter. Susquehanna Fundamental Investments LLC now owns 54,537 shares of the communications equipment provider’s stock valued at $157,000 after purchasing an additional 36,136 shares in the last quarter. Oxford Asset Management LLP acquired a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $160,000. Finally, Millennium Management LLC bought a new stake in shares of Ribbon Communications during the 4th quarter valued at approximately $156,000. 70.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Weiss Ratings downgraded Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. B. Riley Financial reaffirmed a “neutral” rating on shares of Ribbon Communications in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Four research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $3.58.

Ribbon Communications Company Profile

Ribbon Communications Inc is a global provider of real-time communications software and network solutions for service providers and enterprises. The company’s offerings address the full life cycle of voice, video and data transmission across fixed, mobile and cloud environments. Ribbon’s technology portfolio is designed to enable secure, intelligent and interoperable communications in applications such as unified communications, contact centers, wholesale VoIP interconnect and next-generation 5G networks.

Ribbon’s product suite includes session border controllers (SBCs), which secure and interwork IP voice and multimedia sessions; Diameter signaling controllers for 4G/5G policy and charging control; network edge virtualization platforms; and analytics engines for service assurance and fraud management.