Ribbon Communications’ (RBBN) “Buy” Rating Reiterated at B. Riley Financial

B. Riley Financial reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report report published on Wednesday morning, Marketbeat.com reports. The firm currently has a $3.10 target price on the communications equipment provider’s stock, down from their prior target price of $3.30.

RBBN has been the topic of several other reports. Rosenblatt Securities cut their price objective on shares of Ribbon Communications from $2.20 to $1.80 and set a “neutral” rating on the stock in a report on Wednesday. Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a report on Friday, August 7th. Finally, CL King set a $3.30 target price on shares of Ribbon Communications 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 company. According to data from MarketBeat, Ribbon Communications has an average rating of “Moderate Buy” and a consensus target price of $3.20.

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $1.55 on Wednesday. The business’s 50-day moving average price is $1.75 and its 200 day moving average price is $2.24. Ribbon Communications has a twelve month low of $1.28 and a twelve month high of $3.43. The company has a market capitalization of $277.71 million, a PE ratio of 3.47 and a beta of 1.37. The company has a current ratio of 1.32, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, October 27th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $218.71 million for the quarter, compared to analyst estimates of $221.75 million. Ribbon Communications had a return on equity of 20.61% and a net margin of 2.32%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the company earned $0.04 EPS. On average, research analysts predict that Ribbon Communications will post -0.05 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AXQ Capital LP bought a new stake in shares of Ribbon Communications in the 2nd quarter worth about $25,000. Canada Pension Plan Investment Board acquired a new stake in shares of Ribbon Communications in the 2nd quarter valued at about $27,000. Y Intercept Hong Kong Ltd bought a new position in shares of Ribbon Communications during the first quarter worth about $26,000. NewEdge Wealth LLC bought a new position in shares of Ribbon Communications during the first quarter worth about $34,000. Finally, Ieq Capital LLC bought a new position in shares of Ribbon Communications during the second quarter worth about $48,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Company Profile

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.