Analysts Set Ribbon Communications Inc (RBBN) PT at $8.75

Ribbon Communications Inc (NASDAQ:RBBN) has been given a consensus rating of “Hold” by the seven research firms that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $8.75.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, February 22nd. ValuEngine raised shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Friday, January 4th. BidaskClub raised shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Northland Securities reissued a “buy” rating and set a $9.00 target price on shares of Ribbon Communications in a report on Tuesday, February 26th.

Ribbon Communications stock traded down $0.02 during trading on Thursday, hitting $5.18. The stock had a trading volume of 193,581 shares, compared to its average volume of 313,599. Ribbon Communications has a 1 year low of $4.62 and a 1 year high of $7.89. The company has a current ratio of 0.96, a quick ratio of 0.88 and a debt-to-equity ratio of 0.04. The company has a market cap of $546.45 million, a price-to-earnings ratio of 10.79, a PEG ratio of 0.80 and a beta of 1.31.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, February 20th. The communications equipment provider reported $0.26 EPS for the quarter, beating the 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 business had revenue of $173.00 million for the quarter, compared to the consensus estimate of $171.81 million. During the same quarter in the prior year, the business earned $0.27 earnings per share. Ribbon Communications’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that Ribbon Communications will post 0.54 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the business. BlackRock Inc. increased its holdings in shares of Ribbon Communications by 13.4% in the fourth quarter. BlackRock Inc. now owns 4,045,401 shares of the communications equipment provider’s stock worth $19,498,000 after purchasing an additional 479,112 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Ribbon Communications by 6.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,805,922 shares of the communications equipment provider’s stock worth $18,346,000 after purchasing an additional 215,975 shares during the period. Vanguard Group Inc increased its holdings in shares of Ribbon Communications by 8.6% in the third quarter. Vanguard Group Inc now owns 3,647,288 shares of the communications equipment provider’s stock worth $24,911,000 after purchasing an additional 288,331 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ribbon Communications by 8.6% in the third quarter. Vanguard Group Inc. now owns 3,647,288 shares of the communications equipment provider’s stock worth $24,911,000 after purchasing an additional 288,331 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of Ribbon Communications by 2.9% in the fourth quarter. Royce & Associates LP now owns 1,962,092 shares of the communications equipment provider’s stock worth $9,457,000 after purchasing an additional 54,546 shares during the period. 79.80% of the stock is currently owned by institutional investors and hedge funds.

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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