Ribbon Communications Inc. (NASDAQ:RBBN – Get Free Report) has earned an average rating of “Buy” from the four brokerages that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $6.13.
Several equities research analysts have commented on RBBN shares. TheStreet cut shares of Ribbon Communications from a “c-” rating to a “d” rating in a research report on Thursday, April 27th. Craig Hallum began coverage on Ribbon Communications in a report on Tuesday. They issued a “buy” rating and a $5.50 target price on the stock. StockNews.com cut shares of Ribbon Communications from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, JMP Securities started coverage on Ribbon Communications in a report on Monday, April 10th. They set an “outperform” rating and a $6.00 price target for the company.
Insider Activity at Ribbon Communications
In related news, CEO Bruce William Mcclelland purchased 10,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was purchased at an average cost of $2.60 per share, with a total value of $26,000.00. Following the completion of the purchase, the chief executive officer now owns 1,151,963 shares in the company, valued at approximately $2,995,103.80. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.91% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Ribbon Communications
Ribbon Communications Trading Down 0.9 %
Shares of RBBN stock opened at $3.36 on Tuesday. The firm’s 50 day moving average price is $2.82 and its two-hundred day moving average price is $3.19. The stock has a market cap of $571.97 million, a price-to-earnings ratio of -7.81 and a beta of 0.98. Ribbon Communications has a fifty-two week low of $2.19 and a fifty-two week high of $4.84. The company has a quick ratio of 1.03, a current ratio of 1.25 and a debt-to-equity ratio of 0.48.
Ribbon Communications (NASDAQ:RBBN – Get Free Report) last posted its quarterly earnings data on Wednesday, April 26th. The communications equipment provider reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.02. Ribbon Communications had a negative net margin of 7.98% and a positive return on equity of 1.58%. The firm had revenue of $186.16 million for the quarter, compared to the consensus estimate of $186.97 million. On average, analysts anticipate that Ribbon Communications will post 0.19 EPS for the current year.
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; and solutions and services for enabling voice over internet protocol communications, voice over long-term evolution, and voice over 5G communications and unified communications and collaboration.
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