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

Ribbon Communications Inc. (NASDAQ:RBBN) has earned an average rating of “Moderate Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $3.58.

A number of analysts recently commented on the company. B. Riley Financial lowered Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target for the company. in a research note on Friday, February 6th. Northland Securities set a $4.00 price objective on shares of Ribbon Communications in a research report on Friday, February 6th. Citigroup restated an “outperform” rating on shares of Ribbon Communications in a report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ribbon Communications in a research report on Thursday, January 22nd. Finally, Citizens Jmp cut their target price on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a research note on Friday, February 6th.

Ribbon Communications Stock Up 1.9%

Shares of NASDAQ:RBBN opened at $2.19 on Tuesday. The stock’s 50-day moving average is $2.50 and its 200 day moving average is $3.11. The company has a market cap of $384.56 million, a PE ratio of 9.95 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.44 and a quick ratio of 1.19. Ribbon Communications has a 1 year low of $1.80 and a 1 year high of $4.31.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.48. Ribbon Communications had a return on equity of 26.11% and a net margin of 4.69%.The business had revenue of $227.32 million during the quarter, compared to analysts’ expectations of $241.35 million. During the same quarter last year, the business posted $0.16 EPS. The business’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts anticipate that Ribbon Communications will post 0.18 EPS for the current year.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Ribbon Communications by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 7,691,070 shares of the communications equipment provider’s stock worth $29,226,000 after acquiring an additional 166,683 shares during the period. Royce & Associates LP raised its position in shares of Ribbon Communications by 7.2% in the 4th quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock worth $13,290,000 after acquiring an additional 309,271 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Ribbon Communications by 7.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,303,256 shares of the communications equipment provider’s stock valued at $9,238,000 after purchasing an additional 169,402 shares during the period. State Street Corp lifted its stake in shares of Ribbon Communications by 0.3% in the 4th quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock valued at $6,047,000 after purchasing an additional 5,280 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ribbon Communications by 24.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,476,053 shares of the communications equipment provider’s stock valued at $5,919,000 after purchasing an additional 286,803 shares in the last quarter. 70.92% of the stock is currently owned by hedge funds and other institutional investors.

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.