Ribbon Communications’ (RBBN) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Ribbon Communications (NASDAQ:RBBN) in a report published on Thursday morning,Benzinga reports. They currently have a $6.00 price objective on the communications equipment provider’s stock.

A number of other equities research analysts have also weighed in on the stock. Northland Securities boosted their price objective on shares of Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Rosenblatt Securities restated a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Ribbon Communications Stock Performance

NASDAQ RBBN opened at $5.13 on Thursday. Ribbon Communications has a 52-week low of $2.46 and a 52-week high of $5.26. The company has a fifty day moving average of $4.12 and a 200-day moving average of $3.66. The company has a market capitalization of $899.70 million, a P/E ratio of -16.03 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.

Ribbon Communications (NASDAQ:RBBN) 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 analysts’ consensus estimates of $0.13 by $0.01. Ribbon Communications had a positive return on equity of 5.41% and a negative net margin of 6.62%. As a group, equities research analysts predict that Ribbon Communications will post 0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently modified their holdings of RBBN. Victory Capital Management Inc. grew its stake in shares of Ribbon Communications by 59.4% in the third quarter. Victory Capital Management Inc. now owns 504,503 shares of the communications equipment provider’s stock worth $1,640,000 after purchasing an additional 188,077 shares during the last quarter. Inspire Investing LLC bought a new stake in shares of Ribbon Communications in the 4th quarter worth approximately $844,000. Barclays PLC increased its stake in shares of Ribbon Communications by 153.4% during the third quarter. Barclays PLC now owns 170,110 shares of the communications equipment provider’s stock valued at $553,000 after buying an additional 102,969 shares during the period. Royce & Associates LP raised its holdings in shares of Ribbon Communications by 18.0% during the third quarter. Royce & Associates LP now owns 2,536,278 shares of the communications equipment provider’s stock valued at $8,243,000 after acquiring an additional 386,518 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Ribbon Communications by 14.7% in the fourth quarter. SG Americas Securities LLC now owns 39,915 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 5,122 shares in the last quarter. Hedge funds and other 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.