Wall Street analysts forecast that Ribbon Communications Inc. (NASDAQ:RBBN – Get Rating) will report $206.02 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Ribbon Communications’ earnings, with the highest sales estimate coming in at $207.50 million and the lowest estimate coming in at $204.54 million. Ribbon Communications posted sales of $211.21 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.5%. The business is scheduled to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Ribbon Communications will report full year sales of $860.78 million for the current fiscal year, with estimates ranging from $850.85 million to $870.70 million. For the next financial year, analysts expect that the business will post sales of $0.00. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN – Get Rating) last released its earnings results on Wednesday, April 27th. The communications equipment provider reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Ribbon Communications had a negative net margin of 24.53% and a positive return on equity of 2.76%.
RBBN stock opened at $3.45 on Friday. Ribbon Communications has a 52-week low of $2.74 and a 52-week high of $8.31. The company’s 50 day simple moving average is $3.12 and its 200-day simple moving average is $4.68. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.40 and a quick ratio of 1.24. The firm has a market capitalization of $517.88 million, a P/E ratio of -2.52 and a beta of 1.20.
In other Ribbon Communications news, Director Bruns H. Grayson bought 100,000 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was bought at an average cost of $2.81 per share, with a total value of $281,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Bruce William Mcclelland bought 15,000 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was acquired at an average cost of $2.81 per share, with a total value of $42,150.00. The disclosure for this purchase can be found here. Insiders have purchased 118,000 shares of company stock worth $332,060 over the last ninety days. 1.77% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of RBBN. Royal Bank of Canada boosted its holdings in shares of 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 worth $37,000 after buying an additional 4,838 shares during the period. Macquarie Group Ltd. bought a new stake in shares of Ribbon Communications during the 3rd quarter worth $45,000. Allspring Global Investments Holdings LLC bought a new stake in shares of Ribbon Communications during the 4th quarter worth $62,000. Squarepoint Ops LLC bought a new stake in shares of Ribbon Communications during the 3rd quarter worth $71,000. Finally, Wedbush Securities Inc. boosted its holdings in shares of Ribbon Communications by 38.9% during the 1st quarter. Wedbush Securities Inc. now owns 23,609 shares of the communications equipment provider’s stock worth $73,000 after buying an additional 6,609 shares during the period. 65.09% of the stock is owned by institutional investors.
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.
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