Ribbon Communications’ (RBBN) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research note released on Wednesday,Benzinga reports. Rosenblatt Securities currently has a $5.50 price objective on the communications equipment provider’s stock.

A number of other analysts also recently weighed in on RBBN. StockNews.com downgraded Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 31st. JMP Securities reiterated a “market outperform” rating and set a $6.00 price objective on shares of Ribbon Communications in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Ribbon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $5.88.

Ribbon Communications Stock Up 0.3 %

RBBN stock opened at $3.24 on Wednesday. The business’s fifty day moving average price is $3.82 and its two-hundred day moving average price is $3.97. The stock has a market capitalization of $570.02 million, a price-to-earnings ratio of -10.13 and a beta of 1.37. Ribbon Communications has a fifty-two week low of $2.75 and a fifty-two week high of $5.38. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). Ribbon Communications had a positive return on equity of 7.36% and a negative net margin of 6.50%. The business had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. During the same quarter last year, the firm earned ($0.01) EPS. Ribbon Communications’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities analysts anticipate that Ribbon Communications will post 0.18 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Ribbon Communications by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider’s stock valued at $30,793,000 after purchasing an additional 295,524 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Ribbon Communications by 5.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider’s stock worth $26,269,000 after buying an additional 302,039 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Ribbon Communications by 10.5% during the fourth quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider’s stock worth $11,660,000 after buying an additional 266,580 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Ribbon Communications by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider’s stock valued at $6,830,000 after acquiring an additional 27,999 shares during the last quarter. Finally, First Wilshire Securities Management Inc. boosted its holdings in shares of Ribbon Communications by 14.1% during the 4th quarter. First Wilshire Securities Management Inc. now owns 1,334,473 shares of the communications equipment provider’s stock valued at $5,551,000 after acquiring an additional 164,738 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

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.