Ribbon Communications (NASDAQ:RBBN) Earns Buy Rating from Rosenblatt Securities

Rosenblatt Securities reissued their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a research report report published on Wednesday morning, Benzinga reports. The brokerage currently has a $5.00 target price on the communications equipment provider’s stock.

Ribbon Communications Stock Up 0.9 %

Shares of NASDAQ:RBBN opened at $3.26 on Wednesday. The stock has a market cap of $568.97 million, a P/E ratio of -9.31 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The firm has a fifty day moving average price of $3.17 and a 200 day moving average price of $3.13. Ribbon Communications has a 1-year low of $1.78 and a 1-year high of $3.95.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). The company had revenue of $192.62 million during the quarter, compared to analysts’ expectations of $203.05 million. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. During the same quarter in the prior year, the business earned $0.01 EPS. Sell-side analysts predict that Ribbon Communications will post 0.13 EPS for the current year.

Institutional Trading of Ribbon Communications

Several institutional investors and hedge funds have recently modified their holdings of the business. Paradigm Capital Management Inc. NY boosted its position in Ribbon Communications by 4.1% during the second quarter. Paradigm Capital Management Inc. NY now owns 10,546,400 shares of the communications equipment provider’s stock worth $34,698,000 after acquiring an additional 420,000 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Ribbon Communications by 4.9% in the second quarter. Dimensional Fund Advisors LP now owns 5,779,416 shares of the communications equipment provider’s stock valued at $19,012,000 after purchasing an additional 270,972 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Ribbon Communications by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock worth $1,429,000 after purchasing an additional 31,644 shares in the last quarter. GSA Capital Partners LLP lifted its position in shares of Ribbon Communications by 30.1% during the first quarter. GSA Capital Partners LLP now owns 245,543 shares of the communications equipment provider’s stock worth $786,000 after purchasing an additional 56,829 shares in the last quarter. Finally, Algert Global LLC boosted its holdings in Ribbon Communications by 9.5% in the second quarter. Algert Global LLC now owns 228,327 shares of the communications equipment provider’s stock valued at $751,000 after purchasing an additional 19,775 shares during the last quarter. Hedge funds and other institutional investors own 70.92% of the company’s stock.

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.