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

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

Separately, Rosenblatt Securities reiterated a “buy” rating and issued a $5.00 price objective on shares of Ribbon Communications in a research report on Wednesday, September 25th. Four equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $5.88.

Ribbon Communications Price Performance

NASDAQ:RBBN traded up $0.11 during trading hours on Thursday, hitting $4.16. The stock had a trading volume of 220,381 shares, compared to its average volume of 368,179. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.42 and a quick ratio of 1.16. Ribbon Communications has a one year low of $2.46 and a one year high of $4.31. The firm has a market capitalization of $729.60 million, a price-to-earnings ratio of -13.00 and a beta of 1.14. The company has a 50 day simple moving average of $3.81 and a two-hundred day simple moving average of $3.41.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The business had revenue of $210.00 million during the quarter, compared to analysts’ expectations of $212.17 million. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%. Ribbon Communications’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same period last year, the company posted $0.03 EPS. Research analysts forecast that Ribbon Communications will post 0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Ribbon Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in shares of Ribbon Communications during the third quarter valued at approximately $34,000. MQS Management LLC purchased a new position in Ribbon Communications in the second quarter worth about $100,000. SG Americas Securities LLC boosted its holdings in Ribbon Communications by 81.3% in the 3rd quarter. SG Americas Securities LLC now owns 34,793 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 15,604 shares during the period. AQR Capital Management LLC purchased a new stake in Ribbon Communications in the 2nd quarter worth $137,000. Finally, Sanctuary Advisors LLC purchased a new position in shares of Ribbon Communications in the second quarter valued at about $132,000. 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.