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

Ribbon Communications Inc. (NASDAQ:RBBN) has been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $3.5167.

RBBN has been the topic of a number of recent analyst reports. Wall Street Zen downgraded shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Sunday, May 3rd. Weiss Ratings cut shares of Ribbon Communications from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, May 11th. Rosenblatt Securities dropped their price objective on 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 research report on Wednesday, July 29th. Finally, B. Riley Financial upgraded Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 target price on the stock in a report on Wednesday, July 29th.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently modified their holdings of RBBN. Royce & Associates LP lifted its position 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 buying an additional 309,271 shares in the last quarter. NewEdge Wealth LLC purchased a new position in shares of Ribbon Communications in the 1st quarter valued at $34,000. First Wilshire Securities Management Inc. lifted its holdings 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 valued at $2,983,000 after acquiring an additional 139,592 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Ribbon Communications during the 1st quarter valued at $26,000. Finally, OP Asset Management Ltd purchased a new stake in Ribbon Communications during the 1st quarter worth $438,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Stock Down 2.3%

RBBN opened at $2.10 on Friday. Ribbon Communications has a 12 month low of $1.80 and a 12 month high of $4.24. The business has a 50-day moving average of $2.40 and a two-hundred day moving average of $2.42. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.09. The stock has a market capitalization of $375.52 million, a price-to-earnings ratio of 26.25 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share 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 company had revenue of $192.34 million for the quarter, compared to analysts’ expectations of $189.99 million. During the same quarter in the previous year, the company earned $0.05 earnings per share. The company’s revenue was down 13.0% on a year-over-year basis. On average, research analysts expect that Ribbon Communications will post -0.05 earnings per share for the current 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.