Equities analysts predict that Ribbon Communications Inc. (NASDAQ:RBBN – Get Rating) will announce $206.02 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ribbon Communications’ earnings, with the lowest sales estimate coming in at $204.54 million and the highest estimate coming in at $207.50 million. Ribbon Communications reported sales of $211.21 million during the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The business is scheduled to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Ribbon Communications will report full year sales of $860.78 million for the current financial year, with estimates ranging from $850.85 million to $870.70 million. For the next fiscal year, analysts anticipate that the company will post sales of $0.00. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN – Get Rating) last announced its quarterly earnings results on Wednesday, April 27th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.11). Ribbon Communications had a positive return on equity of 2.92% and a negative net margin of 24.53%. The business had revenue of $173.20 million during the quarter, compared to the consensus estimate of $172.50 million.
In other news, Director Bruns H. Grayson purchased 100,000 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was purchased 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 SEC, which is available at the SEC website. Also, EVP Sam Bucci sold 15,000 shares of Ribbon Communications stock in a transaction dated Monday, May 2nd. The stock was sold at an average price of $3.49, for a total transaction of $52,350.00. Following the transaction, the executive vice president now directly owns 151,394 shares of the company’s stock, valued at $528,365.06. The disclosure for this sale can be found here. Insiders have bought a total of 118,000 shares of company stock worth $332,060 in the last quarter. Corporate insiders own 1.77% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its holdings in shares of Ribbon Communications by 1.2% in the 1st quarter. BlackRock Inc. now owns 6,649,989 shares of the communications equipment provider’s stock valued at $20,549,000 after acquiring an additional 80,750 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Ribbon Communications by 2.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,704,671 shares of the communications equipment provider’s stock valued at $11,448,000 after buying an additional 72,194 shares during the last quarter. First Trust Advisors LP raised its position in shares of Ribbon Communications by 60.5% in the first quarter. First Trust Advisors LP now owns 2,444,168 shares of the communications equipment provider’s stock valued at $7,552,000 after buying an additional 921,186 shares during the last quarter. State Street Corp increased its position in Ribbon Communications by 3.2% during the first quarter. State Street Corp now owns 1,730,887 shares of the communications equipment provider’s stock worth $5,348,000 after purchasing an additional 53,911 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Ribbon Communications by 1.2% during the fourth quarter. Geode Capital Management LLC now owns 1,726,048 shares of the communications equipment provider’s stock worth $10,442,000 after purchasing an additional 20,357 shares during the last quarter. Hedge funds and other institutional investors own 66.08% of the company’s stock.
Shares of NASDAQ:RBBN opened at $2.88 on Friday. The company has a market capitalization of $432.40 million, a PE ratio of -2.10 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.25 and a quick ratio of 1.07. The business has a fifty day moving average price of $3.16 and a two-hundred day moving average price of $4.39. Ribbon Communications has a 1 year low of $2.74 and a 1 year high of $8.31.
Ribbon Communications Company Profile (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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