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

Ribbon Communications (NASDAQ:RBBN) posted its quarterly earnings results 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 positive return on equity of 5.41% and a negative net margin of 6.62%.

Ribbon Communications Trading Down 0.4 %

NASDAQ RBBN traded down $0.02 during trading hours on Wednesday, hitting $4.32. 891,293 shares of the company’s stock were exchanged, compared to its average volume of 427,605. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.16 and a current ratio of 1.42. The firm has a market capitalization of $758.34 million, a P/E ratio of -13.51 and a beta of 1.11. The business’s 50 day moving average is $4.06 and its 200-day moving average is $3.62. Ribbon Communications has a 12-month low of $2.46 and a 12-month high of $4.39.

Analyst Upgrades and Downgrades

RBBN has been the topic of a number of research analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $5.50 price objective on shares of Ribbon Communications in a report on Monday, December 30th. Northland Securities raised their price objective on shares of 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, Based on data from MarketBeat, the company presently has a consensus 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.