StockNews.com upgraded shares of Ribbon Communications (NASDAQ:RBBN - Free Report) from a buy rating to a strong-buy rating in a research note released on Friday morning.
A number of other equities analysts have also commented on RBBN. Northland Securities lifted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. JMP Securities reaffirmed a "market outperform" rating and issued a $6.00 price target on shares of Ribbon Communications in a research report on Thursday, February 13th. Finally, Rosenblatt Securities reissued a "buy" rating and issued a $5.50 price objective on shares of Ribbon Communications in a research report on Monday, December 30th. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $6.00.
View Our Latest Stock Analysis on RBBN
Ribbon Communications Stock Up 0.2 %
Shares of NASDAQ RBBN traded up $0.01 during mid-day trading on Friday, reaching $5.14. 1,088,006 shares of the company traded hands, compared to its average volume of 599,213. The stock has a market cap of $901.47 million, a PE ratio of -16.06 and a beta of 1.11. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The company's fifty day moving average is $4.14 and its two-hundred day moving average is $3.67. Ribbon Communications has a fifty-two week low of $2.46 and a fifty-two week high of $5.38.
Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.01. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. On average, analysts expect that Ribbon Communications will post 0.13 earnings per share for the current year.
Hedge Funds Weigh In On Ribbon Communications
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Ribbon Communications by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 7,402,073 shares of the communications equipment provider's stock worth $30,793,000 after purchasing an additional 295,524 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ribbon Communications by 5.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,314,669 shares of the communications equipment provider's stock worth $26,269,000 after purchasing an additional 302,039 shares during the period. Royce & Associates LP boosted its stake in Ribbon Communications by 10.5% during the fourth quarter. Royce & Associates LP now owns 2,802,858 shares of the communications equipment provider's stock worth $11,660,000 after buying an additional 266,580 shares in the last quarter. Geode Capital Management LLC increased its holdings in Ribbon Communications by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,101,366 shares of the communications equipment provider's stock valued at $6,830,000 after buying an additional 27,999 shares during the period. Finally, State Street Corp raised its stake in shares of Ribbon Communications by 0.4% in the 3rd quarter. State Street Corp now owns 1,898,714 shares of the communications equipment provider's stock valued at $6,171,000 after buying an additional 7,963 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.
Ribbon Communications Company Profile
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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.
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