Ribbon Communications (RBBN) Scheduled to Post Earnings on Wednesday

Ribbon Communications (NASDAQ:RBBNGet Rating) is set to release its earnings data after the market closes on Wednesday, April 27th. Analysts expect Ribbon Communications to post earnings of ($0.11) per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Ribbon Communications (NASDAQ:RBBNGet Rating) last issued its earnings results on Wednesday, February 16th. The communications equipment provider reported ($0.02) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.08). Ribbon Communications had a positive return on equity of 5.34% and a negative net margin of 20.97%. The business had revenue of $230.58 million during the quarter, compared to the consensus estimate of $230.70 million. During the same quarter in the previous year, the firm posted $0.81 earnings per share. On average, analysts expect Ribbon Communications to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Shares of Ribbon Communications stock opened at $3.22 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.24 and a current ratio of 1.40. Ribbon Communications has a 52 week low of $2.74 and a 52 week high of $8.31. The stock has a 50 day moving average price of $3.26 and a two-hundred day moving average price of $4.84. The stock has a market capitalization of $483.36 million, a PE ratio of -2.66 and a beta of 1.20.

In other Ribbon Communications news, CEO Bruce William Mcclelland bought 15,000 shares of Ribbon Communications stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average cost of $2.81 per share, for a total transaction of $42,150.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruns H. Grayson acquired 100,000 shares of the business’s stock in a transaction dated Monday, March 14th. The stock was purchased at an average price of $2.81 per share, with a total value of $281,000.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 118,000 shares of company stock worth $332,060. 1.31% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Ribbon Communications by 26,877.8% during the 2nd quarter. Royal Bank of Canada now owns 4,856 shares of the communications equipment provider’s stock valued at $37,000 after acquiring an additional 4,838 shares during the period. UBS Group AG raised its position in Ribbon Communications by 72,905.0% during the 3rd quarter. UBS Group AG now owns 14,601 shares of the communications equipment provider’s stock valued at $87,000 after purchasing an additional 14,581 shares during the last quarter. Squarepoint Ops LLC raised its position in Ribbon Communications by 20.9% during the 4th quarter. Squarepoint Ops LLC now owns 14,380 shares of the communications equipment provider’s stock valued at $87,000 after purchasing an additional 2,485 shares during the last quarter. Sei Investments Co. raised its position in Ribbon Communications by 18.1% during the 4th quarter. Sei Investments Co. now owns 18,920 shares of the communications equipment provider’s stock valued at $99,000 after purchasing an additional 2,895 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in Ribbon Communications by 137.8% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 24,417 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 14,148 shares during the last quarter. Institutional investors own 65.09% of the company’s stock.

RBBN has been the topic of several analyst reports. StockNews.com initiated coverage on Ribbon Communications in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet lowered Ribbon Communications from a “c” rating to a “d” rating in a report on Friday, February 18th. Zacks Investment Research lowered Ribbon Communications from a “hold” rating to a “sell” rating in a report on Tuesday, January 25th. Northland Securities dropped their price target on Ribbon Communications from $10.00 to $6.50 in a report on Thursday, February 17th. Finally, B. Riley lowered their target price on Ribbon Communications from $10.00 to $8.00 in a research note on Thursday, February 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $7.42.

About Ribbon Communications (Get Rating)

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.

See Also

Earnings History for Ribbon Communications (NASDAQ:RBBN)

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