Ribbon Communications (NASDAQ:RBBN – Get Free Report) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
Separately, B. Riley reduced their target price on Ribbon Communications from $7.00 to $6.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Ribbon Communications currently has an average rating of “Moderate Buy” and a consensus price target of $5.88.
Ribbon Communications Stock Up 2.1 %
RBBN opened at $2.90 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.20 and a debt-to-equity ratio of 0.47. The firm has a market cap of $498.02 million, a P/E ratio of -9.06 and a beta of 1.22. Ribbon Communications has a 52 week low of $1.78 and a 52 week high of $4.84. The business’s fifty day simple moving average is $2.50 and its 200 day simple moving average is $2.62.
Ribbon Communications (NASDAQ:RBBN – Get Free Report) last released its earnings results on Wednesday, October 25th. The communications equipment provider reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ribbon Communications had a positive return on equity of 2.07% and a negative net margin of 6.33%. The business had revenue of $203.16 million for the quarter, compared to analysts’ expectations of $219.24 million. As a group, equities research analysts anticipate that Ribbon Communications will post 0.11 EPS for the current fiscal year.
Hedge Funds Weigh In On Ribbon Communications
A number of large investors have recently modified their holdings of the company. Neuberger Berman Group LLC raised its holdings in shares of Ribbon Communications by 284.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 13,570,773 shares of the communications equipment provider’s stock worth $30,155,000 after purchasing an additional 10,039,284 shares during the period. Paradigm Capital Management Inc. NY raised its holdings in shares of Ribbon Communications by 6.8% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after purchasing an additional 477,047 shares during the period. BlackRock Inc. raised its holdings in shares of Ribbon Communications by 18.0% in the 2nd quarter. BlackRock Inc. now owns 7,208,048 shares of the communications equipment provider’s stock worth $20,110,000 after purchasing an additional 1,098,904 shares during the period. Vanguard Group Inc. raised its holdings in shares of Ribbon Communications by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 6,862,311 shares of the communications equipment provider’s stock worth $18,391,000 after purchasing an additional 35,132 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Ribbon Communications by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,552,971 shares of the communications equipment provider’s stock worth $12,702,000 after purchasing an additional 585,999 shares during the period. 70.89% of the stock is currently owned by hedge funds and other institutional investors.
Ribbon Communications Company Profile
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; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.