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

Ribbon Communications Inc. (NASDAQ:RBBN) has been given an average rating of “Moderate Buy” by the six brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $3.58.

Several research firms have recently weighed in on RBBN. Citigroup reiterated an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th. Wall Street Zen cut shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Sunday, May 3rd. Rosenblatt Securities decreased their price objective on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a research report on Friday, February 6th. Citizens Jmp decreased their price objective on shares of Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating for the company in a research report on Friday, February 6th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Ribbon Communications in a research report on Wednesday, April 29th.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $2.57 on Friday. The company has a market cap of $452.68 million, a price-to-earnings ratio of 15.12 and a beta of 1.26. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.37 and a quick ratio of 1.09. The firm has a 50 day simple moving average of $2.41 and a 200 day simple moving average of $2.64. Ribbon Communications has a one year low of $1.80 and a one year high of $4.29.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The business had revenue of $162.61 million during the quarter, compared to the consensus estimate of $163.43 million. Ribbon Communications had a net margin of 3.80% and a return on equity of 24.14%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) EPS. Research analysts predict that Ribbon Communications will post 0.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Kennedy Capital Management LLC purchased a new position in Ribbon Communications in the fourth quarter valued at about $2,047,000. Royce & Associates LP boosted its stake in Ribbon Communications by 17.2% in the third quarter. Royce & Associates LP now owns 4,305,470 shares of the communications equipment provider’s stock valued at $16,361,000 after acquiring an additional 633,035 shares during the last quarter. Cinctive Capital Management LP purchased a new position in Ribbon Communications in the third quarter valued at about $1,991,000. Arrowstreet Capital Limited Partnership boosted its stake in Ribbon Communications by 99.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after acquiring an additional 481,276 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Ribbon Communications by 88.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 890,168 shares of the communications equipment provider’s stock valued at $2,564,000 after acquiring an additional 418,967 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

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.