B. Riley Comments on Ribbon Communications Inc.’s Q2 2024 Earnings (NASDAQ:RBBN)

Ribbon Communications Inc. (NASDAQ:RBBN) – Equities researchers at B. Riley dropped their Q2 2024 earnings per share (EPS) estimates for shares of Ribbon Communications in a research report issued to clients and investors on Thursday, April 25th. B. Riley analyst D. Kang now expects that the communications equipment provider will earn $0.01 per share for the quarter, down from their prior forecast of $0.03. B. Riley has a “Buy” rating and a $6.50 price objective on the stock. The consensus estimate for Ribbon Communications’ current full-year earnings is $0.18 per share. B. Riley also issued estimates for Ribbon Communications’ Q4 2024 earnings at $0.08 EPS, Q1 2025 earnings at ($0.03) EPS, Q2 2025 earnings at $0.02 EPS, Q3 2025 earnings at $0.05 EPS, Q4 2025 earnings at $0.10 EPS and FY2025 earnings at $0.13 EPS.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%. The firm had revenue of $226.40 million for the quarter, compared to the consensus estimate of $233.63 million.

Separately, StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a report on Saturday, March 9th.

Ribbon Communications Stock Down 3.4 %

RBBN stock opened at $3.13 on Monday. Ribbon Communications has a fifty-two week low of $1.78 and a fifty-two week high of $3.65. The business’s 50 day moving average price is $2.97 and its two-hundred day moving average price is $2.69. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.23. The company has a market capitalization of $537.52 million, a price-to-earnings ratio of -8.94 and a beta of 1.19.

Institutional Trading of Ribbon Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in Ribbon Communications by 19.9% during the 1st quarter. Assenagon Asset Management S.A. now owns 160,014 shares of the communications equipment provider’s stock valued at $512,000 after purchasing an additional 26,571 shares during the last quarter. SG Capital Management LLC boosted its stake in Ribbon Communications by 5.3% during the 4th quarter. SG Capital Management LLC now owns 88,110 shares of the communications equipment provider’s stock valued at $256,000 after purchasing an additional 4,449 shares during the last quarter. Brandes Investment Partners LP boosted its stake in Ribbon Communications by 43.4% during the 4th quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock valued at $1,859,000 after purchasing an additional 193,829 shares during the last quarter. Brown Advisory Inc. purchased a new stake in Ribbon Communications during the 4th quarter valued at $33,000. Finally, Panagora Asset Management Inc. purchased a new stake in Ribbon Communications during the 4th quarter valued at $296,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Dan Redington sold 34,452 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $3.10, for a total value of $106,801.20. Following the sale, the executive vice president now owns 66,839 shares in the company, valued at approximately $207,200.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Bruns H. Grayson purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the purchase, the director now directly owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Dan Redington sold 34,452 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $3.10, for a total value of $106,801.20. Following the completion of the sale, the executive vice president now owns 66,839 shares in the company, valued at approximately $207,200.90. The disclosure for this sale can be found here. In the last quarter, insiders have bought 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. Company insiders own 2.10% of the company’s stock.

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.