Ribbon Communications Inc. (NASDAQ:RBBN) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have received an average recommendation of “Moderate Buy” from the six analysts that are presently 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 price objective among brokerages that have updated their coverage on the stock in the last year is $3.20.

Several brokerages have issued reports on RBBN. CL King set a $3.30 target price on Ribbon Communications in a research note on Wednesday, July 29th. B. Riley Financial reiterated a “buy” rating and set a $3.10 price target (down from $3.30) on shares of Ribbon Communications in a research report on Wednesday, October 28th. Rosenblatt Securities decreased their price target on shares of Ribbon Communications from $2.20 to $1.80 and set a “neutral” rating on the stock in a research note on Wednesday, October 28th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a report on Wednesday.

Ribbon Communications Trading Down 2.2%

Shares of RBBN stock opened at $1.35 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.32 and a debt-to-equity ratio of 0.82. The business has a 50-day moving average price of $1.69 and a two-hundred day moving average price of $2.21. Ribbon Communications has a 12-month low of $1.28 and a 12-month high of $3.41. The firm has a market cap of $241.88 million, a P/E ratio of 13.50 and a beta of 1.46.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Tuesday, October 27th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $218.71 million during the quarter, compared to analysts’ expectations of $221.75 million. Ribbon Communications had a return on equity of 20.61% and a net margin of 2.32%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.04 EPS. Equities analysts anticipate that Ribbon Communications will post -0.14 EPS for the current fiscal year.

Insider Activity at Ribbon Communications

In related news, CEO Bruce Mcclelland purchased 60,000 shares of Ribbon Communications stock in a transaction that occurred on Friday, October 30th. The shares were acquired at an average cost of $1.60 per share, for a total transaction of $96,000.00. Following the transaction, the chief executive officer directly owned 2,969,454 shares in the company, valued at $4,751,126.40. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.99% of the company’s stock.

Hedge Funds Weigh In On Ribbon Communications

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Ribbon Communications during the second quarter valued at $16,723,000. Paradigm Capital Management Inc. NY bought a new position in Ribbon Communications in the second quarter valued at about $7,105,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ribbon Communications in the second quarter worth about $5,179,000. Bank of New York Mellon Corp purchased a new position in Ribbon Communications in the second quarter worth about $889,000. Finally, Squarepoint Ops LLC purchased a new position in Ribbon Communications in the second quarter worth about $448,000. 70.92% of the stock is owned by institutional investors.

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.