Ribbon Communications Inc. (NASDAQ:RBBN) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Ribbon Communications has a “Moderate Buy” consensus rating from six analysts: four buys, one hold and one sell. The average 12-month price target is $3.30, although Rosenblatt Securities recently cut its target to $2.20 while maintaining a neutral rating.
• Institutional ownership stands at 70.92%, with BlackRock, Paradigm Capital Management and Connor Clark & Lunn among investors that established new positions during the second quarter.
• The company’s latest quarter showed mixed results: revenue of $192.34 million exceeded estimates, but adjusted EPS of negative $0.03 missed expectations and revenue fell 13% year over year. Shares opened at $1.72, near the lower end of their 52-week range.

Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $3.30.

A number of research analysts have recently issued reports on RBBN shares. Rosenblatt Securities reiterated a "neutral" rating and issued a $2.20 target price (down from $3.50) on shares of Ribbon Communications in a research note on Tuesday. Weiss Ratings restated a "sell (d)" rating on shares of Ribbon Communications in a research report on Friday, August 7th. B. Riley Financial raised Ribbon Communications from a "neutral" rating to a "buy" rating and set a $3.30 price target for the company in a report on Wednesday, July 29th. Finally, CL King set a $3.30 price objective on Ribbon Communications in a research report on Wednesday, July 29th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Ribbon Communications in the 2nd quarter worth approximately $16,723,000. Paradigm Capital Management Inc. NY bought a new position in Ribbon Communications in the 2nd quarter valued at $7,105,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Ribbon Communications in the 2nd quarter valued at $5,179,000. Bank of New York Mellon Corp acquired a new stake in shares of Ribbon Communications in the 2nd quarter valued at $889,000. Finally, Royce & Associates LP raised its position in shares of Ribbon Communications by 7.2% during the fourth quarter. Royce & Associates LP now owns 4,614,741 shares of the communications equipment provider's stock worth $13,290,000 after acquiring an additional 309,271 shares during the last quarter. 70.92% of the stock is owned by institutional investors.

Ribbon Communications Stock Up 3.0%

RBBN opened at $1.72 on Friday. The firm's 50-day simple moving average is $2.04 and its 200-day simple moving average is $2.34. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.31. Ribbon Communications has a twelve month low of $1.55 and a twelve month high of $4.09. The firm has a market cap of $307.57 million, a price-to-earnings ratio of 21.50 and a beta of 1.36.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The firm had revenue of $192.34 million for the quarter, compared to the consensus estimate of $189.99 million. Ribbon Communications had a net margin of 1.96% and a return on equity of 19.91%. The company's revenue for the quarter was down 13.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 earnings per share. Equities research analysts anticipate that Ribbon Communications will post -0.05 EPS for the current fiscal year.

About Ribbon Communications

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.