Ribbon Communications’ (RBBN) “Neutral” Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reiterated their neutral rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report report published on Tuesday, MarketBeat reports. Rosenblatt Securities currently has a $2.20 price objective on the communications equipment provider’s stock, down from their prior price objective of $3.50.

RBBN has been the topic of a number of other research reports. CL King set a $3.30 target price on Ribbon Communications in a research note on Wednesday, July 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Ribbon Communications in a research note on Friday, August 7th. Finally, B. Riley Financial upgraded Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price objective for the company in a report on Wednesday, July 29th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Ribbon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.30.

Ribbon Communications Trading Up 1.8%

Shares of Ribbon Communications stock opened at $1.67 on Tuesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.31 and a quick ratio of 1.03. Ribbon Communications has a 1 year low of $1.55 and a 1 year high of $4.09. The firm has a market cap of $298.63 million, a PE ratio of 20.88 and a beta of 1.36. The company has a 50 day simple moving average of $2.06 and a two-hundred day simple moving average of $2.34.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $192.34 million during the quarter, compared to the consensus estimate of $189.99 million. Ribbon Communications had a return on equity of 19.91% and a net margin of 1.96%.Ribbon Communications’s quarterly revenue was down 13.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.05 EPS. Analysts expect that Ribbon Communications will post -0.05 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in shares of Ribbon Communications during the second quarter valued at about $16,723,000. Paradigm Capital Management Inc. NY purchased a new position in shares of Ribbon Communications in the second quarter worth about $7,105,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Ribbon Communications in the 2nd quarter valued at about $5,179,000. Royce & Associates LP lifted its stake in shares of Ribbon Communications by 7.2% in the 4th quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider’s stock valued at $13,290,000 after acquiring an additional 309,271 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new stake in Ribbon Communications during the 2nd quarter valued at about $889,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

About Ribbon Communications

Ribbon Communications Inc (NASDAQ: RBBN) provides communications technology for telecommunications service providers, enterprises and government organizations. The company develops software, hardware and related services that help customers build, operate and secure voice, video and data networks across cloud, IP and optical environments.

Its portfolio includes session border controllers, communications platforms, voice and unified communications solutions, network transformation software, signaling and routing products, and cybersecurity capabilities.