Ribbon Communications (NASDAQ:RBBN) Shares Down 2.8% – What’s Next?

Ribbon Communications Inc. (NASDAQ:RBBN)’s share price traded down 2.8% on Thursday . The stock traded as low as $4.17 and last traded at $4.18. 11,305 shares changed hands during mid-day trading, a decline of 97% from the average session volume of 368,276 shares. The stock had previously closed at $4.30.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Rosenblatt Securities restated a “buy” rating and issued a $5.00 price target on shares of Ribbon Communications in a report on Wednesday, September 25th. Northland Securities boosted their price objective on Ribbon Communications from $5.50 to $6.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $5.88.

Ribbon Communications Trading Down 1.2 %

The stock has a 50-day simple moving average of $3.88 and a two-hundred day simple moving average of $3.45. The firm has a market cap of $745.38 million, a PE ratio of -13.28 and a beta of 1.14. 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 announced its earnings results on Wednesday, October 23rd. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01). The company had revenue of $210.00 million for 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 quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.03 earnings per share. As a group, sell-side analysts anticipate that Ribbon Communications Inc. will post 0.13 EPS for the current year.

Institutional Investors Weigh In On Ribbon Communications

Hedge funds and other institutional investors have recently modified their holdings of the business. Paradigm Capital Management Inc. NY increased its stake in Ribbon Communications by 4.1% during the 2nd 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 purchasing an additional 420,000 shares in the last quarter. Dimensional Fund Advisors LP lifted 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 worth $19,012,000 after acquiring an additional 270,972 shares during the period. Royce & Associates LP raised its stake in shares of Ribbon Communications by 18.0% in the third 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 during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Ribbon Communications by 1.4% during the third 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 position in Ribbon Communications by 0.4% in the third 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 during the last quarter. 70.92% of the stock is currently owned by hedge funds and other 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.