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

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

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

Ribbon Communications Price Performance

Shares of NASDAQ RBBN opened at $4.15 on Monday. Ribbon Communications has a fifty-two week low of $2.46 and a fifty-two week high of $4.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The company has a market cap of $727.84 million, a PE ratio of -12.97 and a beta of 1.14. The business has a 50-day simple moving average of $3.93 and a two-hundred day simple moving average of $3.47.

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

Institutional Investors Weigh In On Ribbon Communications

Institutional investors have recently modified their holdings of the business. Intech Investment Management LLC acquired a new stake in Ribbon Communications in the 3rd quarter valued at $34,000. MQS Management LLC acquired a new stake in Ribbon Communications during the 2nd quarter worth $100,000. SG Americas Securities LLC lifted its stake in shares of Ribbon Communications by 81.3% in the third quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 15,604 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Ribbon Communications during the 2nd quarter valued at about $132,000. Finally, AQR Capital Management LLC acquired a new position in shares of Ribbon Communications during the 2nd quarter worth approximately $137,000. 70.92% of the stock is currently 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.