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

Ribbon Communications (NASDAQ:RBBN) announced its earnings results on Wednesday. The communications equipment provider reported $0.14 EPS for the quarter, topping 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 Price Performance

NASDAQ RBBN traded down $0.01 on Wednesday, reaching $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 PE ratio of -13.53 and a beta of 1.11. Ribbon Communications has a 12 month low of $2.46 and a 12 month high of $4.39. The company has a quick ratio of 1.16, a current ratio of 1.42 and a debt-to-equity ratio of 0.84. The firm’s 50 day moving average price is $4.06 and its 200 day moving average price is $3.62.

Wall Street Analyst Weigh In

Several research analysts have recently commented on RBBN shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.50 price objective on shares of Ribbon Communications in a research note on Monday, December 30th. Northland Securities lifted their price target on shares of Ribbon Communications from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $6.00.

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.