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

Ribbon Communications Inc. (NASDAQ:RBBN) has been assigned an average rating of “Moderate Buy” from the six analysts that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $3.30.

RBBN has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a research note on Friday, August 7th. 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. CL King set a $3.30 price objective on Ribbon Communications in a research note on Wednesday, July 29th. Finally, 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 research report on Wednesday, July 29th.

Institutional Trading of Ribbon Communications

Several hedge funds have recently added to or reduced their stakes in the stock. WINTON GROUP Ltd grew its holdings in Ribbon Communications by 198.1% during the second quarter. WINTON GROUP Ltd now owns 149,404 shares of the communications equipment provider’s stock valued at $350,000 after purchasing an additional 99,289 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Ribbon Communications during the 2nd quarter valued at $448,000. AXQ Capital LP bought a new stake in Ribbon Communications during the second quarter valued at approximately $25,000. Hsbc Holdings PLC bought a new stake in Ribbon Communications in the 2nd quarter worth approximately $62,000. Finally, Empowered Funds LLC purchased a new position in shares of Ribbon Communications in the second quarter worth about $221,000. Institutional investors own 70.92% of the company’s stock.

Ribbon Communications Stock Down 2.2%

Ribbon Communications stock opened at $1.80 on Friday. Ribbon Communications has a 1-year low of $1.55 and a 1-year high of $4.09. The firm has a market capitalization of $321.88 million, a price-to-earnings ratio of 22.50 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. The firm’s fifty day moving average price is $2.02 and its two-hundred day moving average price is $2.33.

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

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.