Ribbon Communications’ (RBBN) “Buy” Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Ribbon Communications (NASDAQ:RBBN) in a report released on Wednesday morning, Benzinga reports. They currently have a $5.00 target price on the communications equipment provider’s stock.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $3.26 on Wednesday. The company’s fifty day moving average is $3.17 and its 200 day moving average is $3.13. The company has a quick ratio of 1.19, a current ratio of 1.48 and a debt-to-equity ratio of 0.82. Ribbon Communications has a 52 week low of $1.78 and a 52 week high of $3.95. The stock has a market cap of $568.97 million, a PE ratio of -9.31 and a beta of 1.09.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in Ribbon Communications in the second quarter valued at $132,000. Algert Global LLC lifted its position in shares of Ribbon Communications by 9.5% in the 2nd quarter. Algert Global LLC now owns 228,327 shares of the communications equipment provider’s stock worth $751,000 after purchasing an additional 19,775 shares during the period. Pacific Ridge Capital Partners LLC boosted its stake in shares of Ribbon Communications by 49.0% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 221,334 shares of the communications equipment provider’s stock valued at $728,000 after purchasing an additional 72,743 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of Ribbon Communications during the second quarter valued at about $137,000. Finally, Paradigm Capital Management Inc. NY raised its stake in Ribbon Communications by 4.1% in 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 buying an additional 420,000 shares in the last quarter. Institutional investors own 70.92% of the company’s stock.

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, solutions, and services for voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications, and unified communications and collaboration.