Northland Securities reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research note published on Tuesday, February 26th. Northland Securities currently has a $9.00 price target on the communications equipment provider’s stock.
Several other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Ribbon Communications from a strong-buy rating to a hold rating in a research report on Wednesday, January 2nd. ValuEngine downgraded shares of Ribbon Communications from a sell rating to a strong sell rating in a research report on Friday, November 16th. Finally, BidaskClub upgraded shares of Ribbon Communications from a strong sell rating to a sell rating in a research report on Friday, February 15th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $7.75.
Shares of NASDAQ RBBN traded down $0.21 during mid-day trading on Tuesday, hitting $5.02. The company had a trading volume of 267,797 shares, compared to its average volume of 378,587. The stock has a market capitalization of $534.73 million, a price-to-earnings ratio of 10.46, a PEG ratio of 0.78 and a beta of 1.31. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.96 and a quick ratio of 0.88. Ribbon Communications has a one year low of $4.62 and a one year high of $7.89.
Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, February 20th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.20 by $0.06. Ribbon Communications had a positive return on equity of 8.59% and a negative net margin of 13.29%. The company had revenue of $173.00 million during the quarter, compared to analysts’ expectations of $171.81 million. During the same quarter last year, the company earned $0.27 EPS. Ribbon Communications’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Ribbon Communications will post 0.54 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc lifted its holdings in shares of Ribbon Communications by 37.8% during the fourth quarter. Legal & General Group Plc now owns 11,350 shares of the communications equipment provider’s stock worth $55,000 after purchasing an additional 3,112 shares during the period. PEAK6 Investments LLC acquired a new position in Ribbon Communications in the fourth quarter valued at $59,000. Prudential Financial Inc. lifted its holdings in Ribbon Communications by 23.3% in the fourth quarter. Prudential Financial Inc. now owns 15,666 shares of the communications equipment provider’s stock valued at $76,000 after buying an additional 2,963 shares during the period. Citigroup Inc. lifted its holdings in Ribbon Communications by 17.5% in the fourth quarter. Citigroup Inc. now owns 17,753 shares of the communications equipment provider’s stock valued at $86,000 after buying an additional 2,642 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its holdings in Ribbon Communications by 387.7% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 17,943 shares of the communications equipment provider’s stock valued at $86,000 after buying an additional 14,264 shares during the period. 79.80% of the stock is currently owned by hedge funds and other institutional investors.
Ribbon Communications Company Profile
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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