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

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

Several research firms have recently issued reports on RBBN. Rosenblatt Securities lowered their target price on shares of Ribbon Communications from $6.00 to $4.00 and set a “buy” rating for the company in a report on Friday, February 6th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ribbon Communications in a research note on Thursday, January 22nd. Citizens Jmp dropped their target price on Ribbon Communications from $6.00 to $4.00 and set a “market outperform” rating on the stock in a report on Friday, February 6th. Northland Securities set a $4.00 price target on Ribbon Communications in a report on Friday, February 6th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Ribbon Communications in a research report on Friday, February 6th.

Hedge Funds Weigh In On Ribbon Communications

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RBBN. Vanguard Group Inc. boosted its stake in 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 valued at $29,226,000 after purchasing an additional 166,683 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of 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 purchasing an additional 309,271 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ribbon Communications by 7.9% during the second 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 in the last quarter. State Street Corp boosted its position in shares of Ribbon Communications by 0.3% during the fourth quarter. State Street Corp now owns 2,099,793 shares of the communications equipment provider’s stock valued at $6,047,000 after buying an additional 5,280 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Ribbon Communications by 24.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,476,053 shares of the communications equipment provider’s stock worth $5,919,000 after buying an additional 286,803 shares in the last quarter. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Stock Performance

Shares of Ribbon Communications stock opened at $2.43 on Tuesday. Ribbon Communications has a 12 month low of $1.80 and a 12 month high of $4.84. The firm has a market capitalization of $426.71 million, a P/E ratio of 11.05 and a beta of 1.06. The company has a current ratio of 1.44, a quick ratio of 1.19 and a debt-to-equity ratio of 0.72. The business has a fifty day simple moving average of $2.57 and a two-hundred day simple moving average of $3.16.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Thursday, February 5th. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.48. Ribbon Communications had a net margin of 4.69% and a return on equity of 26.11%. The company had revenue of $227.32 million during the quarter, compared to analyst estimates of $241.35 million. During the same period last year, the business earned $0.16 EPS. Ribbon Communications’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities analysts forecast that Ribbon Communications will post 0.18 earnings per share for the current fiscal 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.