Ribbon Communications' (RBBN) "Buy" Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN - Free Report) in a research report report published on Wednesday morning,Benzinga reports. The brokerage currently has a $5.50 target price on the communications equipment provider's stock.

Several other equities research analysts also recently issued reports on the company. JMP Securities restated a "market outperform" rating and set a $6.00 price objective on shares of Ribbon Communications in a report on Thursday, February 13th. StockNews.com lowered Ribbon Communications from a "strong-buy" rating to a "buy" rating in a research report on Monday, March 31st. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $5.88.

Ribbon Communications Price Performance

Shares of RBBN traded up $0.01 during mid-day trading on Wednesday, hitting $3.25. The company's stock had a trading volume of 274,498 shares, compared to its average volume of 406,504. The firm has a 50-day simple moving average of $3.82 and a 200 day simple moving average of $3.98. Ribbon Communications has a 1-year low of $2.75 and a 1-year high of $5.38. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $570.90 million, a P/E ratio of -10.14 and a beta of 1.37.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The communications equipment provider reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.04). Ribbon Communications had a negative net margin of 6.50% and a positive return on equity of 7.36%. The firm had revenue of $181.28 million for the quarter, compared to analysts' expectations of $191.66 million. During the same period in the previous year, the company posted ($0.01) EPS. The business's quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Ribbon Communications will post 0.18 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings 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 valued at $219,000 after buying an additional 2,288 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Ribbon Communications by 2.7% in the fourth quarter. Ameriprise Financial Inc. now owns 136,621 shares of the communications equipment provider's stock worth $568,000 after acquiring an additional 3,622 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Ribbon Communications by 8.6% during the fourth 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 during the last quarter. SG Americas Securities LLC raised its holdings in Ribbon Communications by 14.7% in the 4th quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider's stock valued at $166,000 after acquiring an additional 5,122 shares in the last quarter. Finally, ProShare Advisors LLC lifted its position in Ribbon Communications by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 25,782 shares of the communications equipment provider's stock worth $107,000 after purchasing an additional 8,485 shares during the period. 70.92% of the stock is currently owned by institutional investors and hedge funds.

About Ribbon Communications

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.