Ribbon Communications (NASDAQ:RBBN) Issues Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ribbon Communications (NASDAQ:RBBN) issued its quarterly earnings data on Wednesday. The communications equipment provider reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01, Zacks reports. Ribbon Communications had a negative net margin of 6.62% and a positive return on equity of 5.41%.

Ribbon Communications Stock Down 0.2 %

Shares of RBBN traded down $0.01 during trading hours on Wednesday, hitting $4.33. The company had a trading volume of 1,108,637 shares, compared to its average volume of 435,675. The stock has a market capitalization of $759.40 million, a price-to-earnings ratio of -13.53 and a beta of 1.11. The firm has a fifty day moving average price of $4.06 and a 200-day moving average price of $3.62. Ribbon Communications has a 52-week low of $2.46 and a 52-week high of $4.39. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42.

Analysts Set New Price Targets

RBBN has been the topic of several research analyst reports. Rosenblatt Securities reiterated a “buy” rating and set a $5.50 price target on shares of Ribbon Communications in a research report on Monday, December 30th. Northland Securities raised their target price on Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, Ribbon Communications presently has an average rating of “Buy” and an average price target of $6.00.

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.