Ribbon Communications (NASDAQ:RBBN – Get Free Report) announced its quarterly earnings results on Wednesday. The communications equipment provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.01), Briefing.com reports. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The business had revenue of $210.00 million for the quarter, compared to analyst estimates of $212.17 million. During the same period in the prior year, the business earned $0.03 EPS. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. Ribbon Communications updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.
Ribbon Communications Stock Performance
Shares of NASDAQ RBBN opened at $3.71 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The firm has a market cap of $647.51 million, a price-to-earnings ratio of -11.59 and a beta of 1.09. The stock’s fifty day moving average price is $3.22 and its two-hundred day moving average price is $3.17. Ribbon Communications has a one year low of $1.78 and a one year high of $3.95.
Analysts Set New Price Targets
Separately, Rosenblatt Securities restated a “buy” rating and set a $5.00 target price on shares of Ribbon Communications in a research note on Wednesday, September 25th.
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.
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