Ribbon Communications (NASDAQ:RBBN) Announces Earnings Results

Ribbon Communications (NASDAQ:RBBN) posted its quarterly earnings results on Tuesday. The communications equipment provider reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04, Zacks reports. Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%.

Ribbon Communications Trading Up 4.5%

Shares of Ribbon Communications stock traded up $0.06 during trading hours on Tuesday, hitting $1.40. The company’s stock had a trading volume of 1,898,149 shares, compared to its average volume of 940,551. The business has a fifty day moving average of $1.78 and a 200 day moving average of $2.27. Ribbon Communications has a 1-year low of $1.28 and a 1-year high of $3.55. The company has a quick ratio of 1.03, a current ratio of 1.31 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $250.35 million, a PE ratio of 17.50 and a beta of 1.37.

Analyst Ratings Changes

RBBN has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a report on Friday, August 7th. CL King set a $3.30 price target on Ribbon Communications in a research report on Wednesday, July 29th. Rosenblatt Securities restated a “neutral” rating and set a $2.20 price target (down from $3.50) on shares of Ribbon Communications in a research note on Tuesday, September 15th. Finally, B. Riley Financial upgraded Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price objective on the stock in a report on Wednesday, July 29th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $3.30.

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.