Wall Street brokerages predict that Ribbon Communications Inc. (NASDAQ:RBBN – Get Rating) will post $206.02 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made 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 posted sales of $211.21 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.5%. The business is expected to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that Ribbon Communications will report full year sales of $860.78 million for the current year, with estimates ranging from $850.85 million to $870.70 million. For the next fiscal year, analysts expect that the company will report sales of $0.00. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN – Get Rating) last released its quarterly earnings data on Wednesday, April 27th. The communications equipment provider reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $173.20 million for the quarter, compared to analysts’ expectations of $172.50 million. Ribbon Communications had a negative net margin of 24.53% and a positive return on equity of 2.92%.
In related news, Director Bruns H. Grayson bought 100,000 shares of the stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sam Bucci sold 15,000 shares of the business’s stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $3.49, for a total transaction of $52,350.00. Following the sale, 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 acquired 118,000 shares of company stock worth $332,060 in the last quarter. Company insiders own 1.77% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of RBBN. Mirabella Financial Services LLP purchased a new stake in shares of Ribbon Communications during the first quarter valued at $33,000. Royal Bank of Canada boosted its stake in shares of Ribbon Communications by 26,877.8% during the second quarter. Royal Bank of Canada now owns 4,856 shares of the communications equipment provider’s stock valued at $37,000 after purchasing an additional 4,838 shares during the period. Macquarie Group Ltd. purchased a new stake in shares of Ribbon Communications during the third quarter valued at $45,000. Sei Investments Co. boosted its stake in shares of Ribbon Communications by 21.9% during the first quarter. Sei Investments Co. now owns 23,058 shares of the communications equipment provider’s stock valued at $49,000 after purchasing an additional 4,138 shares during the period. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Ribbon Communications in the fourth quarter worth about $62,000. 66.08% of the stock is owned by hedge funds and other institutional investors.
Shares of Ribbon Communications stock traded up $0.09 on Friday, hitting $2.81. 195,270 shares of the company traded hands, compared to its average volume of 482,473. The stock has a market capitalization of $421.89 million, a P/E ratio of -2.05 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.07 and a current ratio of 1.25. Ribbon Communications has a 52 week low of $2.58 and a 52 week high of $8.31. The business has a 50-day simple moving average of $3.11 and a 200 day simple moving average of $4.27.
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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