Ribbon Communications Inc. (NASDAQ:RBBN - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.92 and traded as high as $4.06. Ribbon Communications shares last traded at $4.03, with a volume of 307,405 shares.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on RBBN. Wall Street Zen downgraded shares of Ribbon Communications from a "buy" rating to a "hold" rating in a research note on Friday, May 2nd. B. Riley reduced their price objective on shares of Ribbon Communications from $7.50 to $6.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research report on Wednesday, April 30th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.88.
View Our Latest Stock Analysis on Ribbon Communications
Ribbon Communications Stock Performance
The company has a debt-to-equity ratio of 0.86, a current ratio of 1.39 and a quick ratio of 1.13. The stock has a market cap of $695.57 million, a price-to-earnings ratio of -13.59 and a beta of 1.36. The stock's 50-day moving average is $3.80 and its 200 day moving average is $3.92.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.01 by ($0.04). The firm had revenue of $181.28 million during the quarter, compared to analyst estimates of $191.66 million. Ribbon Communications had a negative net margin of 6.00% and a positive return on equity of 6.76%. Ribbon Communications's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.01) EPS. As a group, analysts predict that Ribbon Communications Inc. will post 0.18 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Ribbon Communications
Hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Ribbon Communications by 4.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 52,584 shares of the communications equipment provider's stock worth $219,000 after purchasing an additional 2,288 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Ribbon Communications by 2.7% in the 4th quarter. Ameriprise Financial Inc. now owns 136,621 shares of the communications equipment provider's stock valued at $568,000 after buying an additional 3,622 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Ribbon Communications by 8.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,604 shares of the communications equipment provider's stock valued at $261,000 after buying an additional 4,978 shares in the last quarter. Worth Venture Partners LLC lifted its stake in Ribbon Communications by 11.0% in the 1st quarter. Worth Venture Partners LLC now owns 50,564 shares of the communications equipment provider's stock valued at $198,000 after buying an additional 5,000 shares in the last quarter. Finally, ProShare Advisors LLC lifted its stake in Ribbon Communications by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider's stock valued at $107,000 after buying an additional 8,485 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors and hedge funds.
Ribbon Communications Company Profile
(
Get Free Report)
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.
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