Ribbon Communications Inc (NASDAQ:RBBN) Receives $4.75 Average PT from Analysts

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Ribbon Communications Inc (NASDAQ:RBBN) has earned a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $4.75.

RBBN has been the topic of a number of research analyst reports. Northland Securities reaffirmed a “hold” rating and set a $6.00 price objective on shares of Ribbon Communications in a research report on Friday, November 15th. Zacks Investment Research downgraded shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Wednesday, November 6th. National Securities downgraded shares of Ribbon Communications from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $8.00 to $3.50 in a research report on Thursday, November 14th. TheStreet downgraded shares of Ribbon Communications from a “c-” rating to a “d+” rating in a research report on Monday. Finally, BidaskClub downgraded shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 19th.

Shares of RBBN opened at $2.79 on Monday. The company’s 50 day moving average price is $3.67 and its 200 day moving average price is $4.76. Ribbon Communications has a 52 week low of $2.44 and a 52 week high of $6.56. The company has a market capitalization of $306.68 million, a PE ratio of 5.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.14 and a current ratio of 1.21.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, October 30th. The communications equipment provider reported $0.13 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.08). Ribbon Communications had a net margin of 3.25% and a return on equity of 5.02%. The company had revenue of $137.65 million for the quarter, compared to analysts’ expectations of $156.66 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The business’s revenue for the quarter was down 9.7% on a year-over-year basis. On average, equities analysts forecast that Ribbon Communications will post -0.24 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC lifted its stake in Ribbon Communications by 821.6% in the third quarter. Millennium Management LLC now owns 127,080 shares of the communications equipment provider’s stock valued at $742,000 after acquiring an additional 113,291 shares during the last quarter. Squarepoint Ops LLC lifted its stake in Ribbon Communications by 8.7% in the third quarter. Squarepoint Ops LLC now owns 150,386 shares of the communications equipment provider’s stock valued at $878,000 after acquiring an additional 12,076 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Ribbon Communications in the third quarter valued at approximately $80,000. Penserra Capital Management LLC lifted its stake in Ribbon Communications by 25.0% in the third quarter. Penserra Capital Management LLC now owns 119,318 shares of the communications equipment provider’s stock valued at $696,000 after acquiring an additional 23,857 shares during the last quarter. Finally, State Street Corp lifted its stake in Ribbon Communications by 11.3% in the third quarter. State Street Corp now owns 1,213,993 shares of the communications equipment provider’s stock valued at $7,090,000 after acquiring an additional 123,368 shares during the last quarter. Hedge funds and other institutional investors own 81.17% of the company’s stock.

Ribbon Communications Company Profile

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables secure and innovative business and consumer communications services.

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