B. Riley Analysts Decrease Earnings Estimates for Ribbon Communications Inc. (NASDAQ:RBBN)

Ribbon Communications Inc. (NASDAQ:RBBN) – Stock analysts at B. Riley cut their Q2 2024 earnings estimates for shares of Ribbon Communications in a research note issued to investors on Thursday, April 25th. B. Riley analyst D. Kang now expects that the communications equipment provider will post earnings per share of $0.01 for the quarter, down from their prior estimate 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 issued its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $226.40 million during the quarter, compared to the consensus estimate of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%.

A number of other equities analysts also recently commented on the stock. JMP Securities began coverage on shares of Ribbon Communications in a report on Monday. They issued a “mkt outperform” rating and a $6.00 target price for the company. StockNews.com upgraded shares of Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

Ribbon Communications Trading Up 0.3 %

Shares of NASDAQ RBBN opened at $3.17 on Monday. Ribbon Communications has a 1-year low of $1.78 and a 1-year high of $3.65. The business has a fifty day moving average price of $2.96 and a 200 day moving average price of $2.71. The stock has a market capitalization of $544.38 million, a P/E ratio of -9.06 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00.

Insider Buying and Selling

In other Ribbon Communications news, Director Bruns H. Grayson purchased 100,000 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was bought at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the purchase, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Dan Redington sold 34,452 shares of Ribbon Communications stock in a transaction that occurred on Monday, February 26th. The shares were 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 directly 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 can be accessed through the SEC website. Also, Director Bruns H. Grayson acquired 100,000 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were bought at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the acquisition, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Ribbon Communications

A number of large investors have recently bought and sold shares of RBBN. Brown Advisory Inc. purchased a new position in Ribbon Communications during the fourth quarter valued at approximately $33,000. Principal Financial Group Inc. purchased a new stake in Ribbon Communications in the 3rd quarter worth $35,000. NewEdge Wealth LLC acquired a new position in shares of Ribbon Communications during the 4th quarter worth about $40,000. Vestmark Advisory Solutions Inc. acquired a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $40,000. Finally, Caxton Associates LP acquired a new position in Ribbon Communications in the 3rd quarter valued at $41,000. Hedge funds and other institutional investors own 70.92% of the company’s stock.

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.