Ribbon Communications (NASDAQ:RBBN – Get Free Report) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Ribbon Communications has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Investors that wish to listen to the company’s conference call can do so using this link.
Ribbon Communications (NASDAQ:RBBN – Get Free Report) last announced its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a positive return on equity of 3.53% and a negative net margin of 8.01%.
Ribbon Communications Stock Down 2.2 %
Shares of NASDAQ RBBN opened at $2.61 on Wednesday. The firm has a market cap of $448.22 million, a price-to-earnings ratio of -6.53 and a beta of 1.19. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 0.44. Ribbon Communications has a 52-week low of $1.78 and a 52-week high of $3.65. The business’s 50 day moving average is $3.05 and its two-hundred day moving average is $2.68.
Insider Transactions at Ribbon Communications
Institutional Investors Weigh In On Ribbon Communications
Several hedge funds have recently made changes to their positions in the business. Swiss National Bank boosted its position in Ribbon Communications by 8.0% during the first quarter. Swiss National Bank now owns 228,474 shares of the communications equipment provider’s stock worth $706,000 after acquiring an additional 16,900 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Ribbon Communications by 1.7% during the first quarter. Bank of New York Mellon Corp now owns 431,590 shares of the communications equipment provider’s stock worth $1,334,000 after acquiring an additional 7,168 shares during the last quarter. MetLife Investment Management LLC boosted its position in Ribbon Communications by 226.8% during the first quarter. MetLife Investment Management LLC now owns 38,902 shares of the communications equipment provider’s stock worth $120,000 after acquiring an additional 26,999 shares during the last quarter. BlackRock Inc. boosted its position in Ribbon Communications by 1.2% during the first quarter. BlackRock Inc. now owns 6,649,989 shares of the communications equipment provider’s stock worth $20,549,000 after acquiring an additional 80,750 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Ribbon Communications by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 3,704,671 shares of the communications equipment provider’s stock worth $11,448,000 after acquiring an additional 72,194 shares during the last quarter. Institutional investors and hedge funds own 70.92% of the company’s stock.
Wall Street Analyst Weigh In
Separately, StockNews.com raised Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.
Read Our Latest Analysis on RBBN
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.
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