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

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $3.5167.

A number of equities research analysts recently issued reports on the stock. Rosenblatt Securities decreased their price objective on shares of Ribbon Communications from $4.00 to $3.50 and set a “buy” rating for the company in a report on Wednesday, July 29th. CL King set a $3.30 target price on Ribbon Communications in a report on Wednesday, July 29th. B. Riley Financial raised Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target for the company in a research report on Wednesday, July 29th. Wall Street Zen downgraded Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Ribbon Communications in a report on Friday, August 7th.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its holdings in Ribbon Communications by 7.2% during the fourth quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock valued at $13,290,000 after acquiring an additional 309,271 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Ribbon Communications by 18.2% in the first 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 during the period. State of Wyoming bought a new position in shares of Ribbon Communications in the first quarter worth about $116,000. NewEdge Wealth LLC bought a new position in shares of Ribbon Communications in the first quarter worth about $34,000. Finally, First Wilshire Securities Management Inc. lifted its position in shares of Ribbon Communications by 11.0% during the 1st quarter. First Wilshire Securities Management Inc. now owns 1,407,178 shares of the communications equipment provider’s stock worth $2,983,000 after purchasing an additional 139,592 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Price Performance

Shares of RBBN opened at $2.04 on Tuesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.31. The firm has a market cap of $364.80 million, a PE ratio of 25.50 and a beta of 1.36. The firm’s 50 day moving average price is $2.20 and its 200 day moving average price is $2.37. Ribbon Communications has a twelve month low of $1.80 and a twelve month high of $4.24.

Ribbon Communications (NASDAQ:RBBN) last announced 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 business’s revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.05 EPS. As a group, research analysts expect that Ribbon Communications will post -0.05 EPS for the current fiscal year.

About Ribbon Communications

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.