Ribbon Communications Inc (NASDAQ:RBBN) has earned an average rating of “Hold” from the seven brokerages that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $8.13.
A number of brokerages recently weighed in on RBBN. BidaskClub lowered shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, August 29th. National Securities began coverage on shares of Ribbon Communications in a research note on Monday, October 22nd. They issued a “buy” rating and a $8.50 price target on the stock. Zacks Investment Research lowered shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. ValuEngine raised shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Cowen raised shares of Ribbon Communications from an “underperform” rating to a “market perform” rating in a research note on Wednesday, August 1st.
A number of institutional investors have recently modified their holdings of the stock. Northern Trust Corp lifted its stake in Ribbon Communications by 4.3% in the 1st quarter. Northern Trust Corp now owns 558,679 shares of the communications equipment provider’s stock worth $2,848,000 after purchasing an additional 23,048 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ribbon Communications by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,193,905 shares of the communications equipment provider’s stock worth $16,289,000 after purchasing an additional 14,570 shares in the last quarter. Jane Street Group LLC purchased a new position in Ribbon Communications in the 1st quarter worth approximately $141,000. Millennium Management LLC lifted its stake in Ribbon Communications by 263.4% in the 1st quarter. Millennium Management LLC now owns 646,661 shares of the communications equipment provider’s stock worth $3,298,000 after purchasing an additional 468,732 shares in the last quarter. Finally, Horrell Capital Management Inc. lifted its stake in Ribbon Communications by 4.6% in the 2nd quarter. Horrell Capital Management Inc. now owns 534,300 shares of the communications equipment provider’s stock worth $3,804,000 after purchasing an additional 23,500 shares in the last quarter. 80.50% of the stock is currently owned by hedge funds and other institutional investors.
Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, October 30th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.06. The firm had revenue of $152.46 million for the quarter, compared to analyst estimates of $138.40 million. Ribbon Communications had a negative net margin of 16.28% and a positive return on equity of 6.72%. Ribbon Communications’s quarterly revenue was up 104.4% compared to the same quarter last year. During the same period last year, the company posted $0.14 EPS. Sell-side analysts expect that Ribbon Communications will post 0.44 earnings per share for the current fiscal year.
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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