Ribbon Communications’ (RBBN) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report report published on Monday,Benzinga reports. They currently have a $5.50 price target on the communications equipment provider’s stock.

Separately, Northland Securities raised their price target on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Ribbon Communications currently has an average rating of “Buy” and a consensus price target of $6.00.

Ribbon Communications Price Performance

Ribbon Communications stock opened at $4.15 on Monday. The company’s 50 day moving average is $3.93 and its two-hundred day moving average is $3.47. The firm has a market cap of $727.84 million, a PE ratio of -12.97 and a beta of 1.14. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. Ribbon Communications has a 52-week low of $2.46 and a 52-week high of $4.39.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01). The company had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.03 EPS. On average, research analysts expect that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Institutional Trading of Ribbon Communications

A number of large investors have recently made changes to their positions in RBBN. Bank of New York Mellon Corp increased its holdings in shares of Ribbon Communications by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock valued at $1,429,000 after acquiring an additional 31,644 shares during the period. Panagora Asset Management Inc. grew its position in Ribbon Communications by 2.4% in the 2nd quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider’s stock valued at $643,000 after buying an additional 4,553 shares during the last quarter. Rhumbline Advisers raised its position in Ribbon Communications by 4.6% during the 2nd quarter. Rhumbline Advisers now owns 152,619 shares of the communications equipment provider’s stock worth $502,000 after buying an additional 6,668 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Ribbon Communications by 4.9% during the second quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock worth $19,012,000 after acquiring an additional 270,972 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Ribbon Communications in the second quarter valued at about $247,000. 70.92% of the stock is owned by institutional investors and hedge funds.

Ribbon Communications Company Profile

Ribbon Communications Inc provides communications technology in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through two segments, Cloud and Edge, and IP Optical Networks. The Cloud and Edge segment provides software and hardware products, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.