Ribbon Communications Inc. (NASDAQ:RBBN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Ribbon Communications Inc. (NASDAQ:RBBN – Get Free Report) have received a consensus recommendation of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $3.30.

A number of brokerages recently commented on RBBN. B. Riley Financial upgraded shares of Ribbon Communications from a “neutral” rating to a “buy” rating and set a $3.30 price target on the stock in a research note on Wednesday, July 29th. Rosenblatt Securities reiterated a “neutral” rating and issued a $2.20 price objective (down from $3.50) on shares of Ribbon Communications in a research note on Tuesday, September 15th. CL King set a $3.30 target price on shares of Ribbon Communications in a report on Wednesday, July 29th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Ribbon Communications in a research report on Friday, August 7th.

Check Out Our Latest Analysis on RBBN

Institutional Trading of Ribbon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the stock. WINTON GROUP Ltd lifted its holdings in Ribbon Communications by 198.1% during the 2nd quarter. WINTON GROUP Ltd now owns 149,404 shares of the communications equipment provider’s stock worth $350,000 after purchasing an additional 99,289 shares in the last quarter. Squarepoint Ops LLC purchased a new position in Ribbon Communications during the 2nd quarter valued at about $448,000. AXQ Capital LP bought a new stake in shares of Ribbon Communications during the second quarter valued at about $25,000. Hsbc Holdings PLC bought a new stake in shares of Ribbon Communications during the second quarter valued at about $62,000. Finally, Empowered Funds LLC purchased a new stake in shares of Ribbon Communications in the second quarter worth about $221,000. 70.92% of the stock is currently owned by institutional investors.

Ribbon Communications Trading Down 1.1%

Shares of Ribbon Communications stock opened at $1.80 on Friday. The stock has a market capitalization of $321.88 million, a P/E ratio of 22.50 and a beta of 1.36. Ribbon Communications has a 52-week low of $1.55 and a 52-week high of $4.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.31. The stock’s 50-day simple moving average is $2.00 and its 200 day simple moving average is $2.32.

Ribbon Communications (NASDAQ:RBBN – Get Free Report) last issued its earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The business had revenue of $192.34 million for 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 revenue for the quarter was down 13.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.05 EPS. As a group, research analysts anticipate that Ribbon Communications will post -0.05 EPS for the current year.

Ribbon Communications Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Ribbon Communications (NASDAQ:RBBN)

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