Ribbon Communications Inc. (NASDAQ:RBBN) Receives Average Rating of “Hold” from Brokerages

Shares of Ribbon Communications Inc. (NASDAQ:RBBN) have received an average recommendation of “Hold” from the eight brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $3.9667.

Several equities analysts have recently commented on RBBN shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Ribbon Communications in a research report on Thursday, January 22nd. Citizens Jmp reduced 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. Wall Street Zen lowered Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Saturday, October 25th. B. Riley Financial downgraded Ribbon Communications from a “buy” rating to a “neutral” rating and set a $2.90 price target for the company. in a report on Friday. Finally, B.Riley Securit cut Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 6th.

Institutional Trading of Ribbon Communications

A number of large investors have recently modified their holdings of RBBN. Royce & Associates LP lifted its position in Ribbon Communications by 17.2% in the third quarter. Royce & Associates LP now owns 4,305,470 shares of the communications equipment provider’s stock worth $16,361,000 after purchasing an additional 633,035 shares during the period. Cinctive Capital Management LP bought a new stake in shares of Ribbon Communications in the 3rd quarter worth $1,991,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ribbon Communications by 99.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 964,446 shares of the communications equipment provider’s stock valued at $3,665,000 after buying an additional 481,276 shares during the period. Goldman Sachs Group Inc. boosted its stake in Ribbon Communications by 85.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 787,493 shares of the communications equipment provider’s stock valued at $2,268,000 after buying an additional 363,334 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Ribbon Communications by 24.1% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,476,053 shares of the communications equipment provider’s stock valued at $5,919,000 after buying an additional 286,803 shares in the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $2.03 on Friday. The company has a market cap of $358.50 million, a price-to-earnings ratio of 9.23 and a beta of 1.07. Ribbon Communications has a 12 month low of $1.80 and a 12 month high of $5.38. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.43 and a quick ratio of 1.16. The stock’s 50-day moving average is $2.79 and its 200-day moving average is $3.33.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data 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 27.48%. The company had revenue of $227.32 million during the quarter, compared to analyst estimates of $241.35 million. During the same quarter in the prior year, the business earned $0.16 earnings per share. The business’s quarterly revenue was down 9.6% compared to the same quarter last year. Equities analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current 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.