Northland Securities Issues Positive Forecast for Ribbon Communications (NASDAQ:RBBN) Stock Price

Ribbon Communications (NASDAQ:RBBN) had its price objective hoisted by Northland Securities from $5.50 to $6.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the communications equipment provider’s stock.

Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 target price on shares of Ribbon Communications in a research note on Wednesday, September 25th. Four analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $5.88.

Ribbon Communications Stock Up 3.0 %

Shares of NASDAQ:RBBN opened at $4.17 on Thursday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. The company has a market cap of $731.35 million, a price-to-earnings ratio of -13.03 and a beta of 1.14. The firm has a fifty day moving average price of $3.83 and a two-hundred day moving average price of $3.42. Ribbon Communications has a one year low of $2.46 and a one year high of $4.31.

Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.01). Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. The company had revenue of $210.00 million for the quarter, compared to analysts’ expectations of $212.17 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. Analysts anticipate that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

A number of large investors have recently made changes to their positions in RBBN. Paradigm Capital Management Inc. NY raised its holdings in shares of 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 valued at $34,698,000 after acquiring an additional 420,000 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Ribbon Communications by 4.9% during the 2nd 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. Royce & Associates LP raised its holdings in Ribbon Communications by 18.0% in the 3rd quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock worth $8,243,000 after purchasing an additional 386,518 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of 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 worth $6,830,000 after purchasing an additional 27,999 shares during the period. Finally, State Street Corp boosted its stake in shares of Ribbon Communications by 0.4% during 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 purchasing an additional 7,963 shares in the last quarter. 70.92% of the stock is currently owned by institutional investors.

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.