Analysts expect Ribbon Communications Inc. (NASDAQ:RBBN) to post earnings per share of $0.02 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ribbon Communications’ earnings, with the highest EPS estimate coming in at $0.02 and the lowest estimate coming in at $0.01. Ribbon Communications posted earnings of $0.01 per share during the same quarter last year, which would indicate a positive year over year growth rate of 100%. The firm is scheduled to announce its next earnings report on Wednesday, May 5th.
According to Zacks, analysts expect that Ribbon Communications will report full-year earnings of $0.50 per share for the current financial year, with EPS estimates ranging from $0.49 to $0.52. For the next financial year, analysts expect that the business will report earnings of $0.57 per share, with EPS estimates ranging from $0.54 to $0.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last issued its earnings results on Tuesday, February 16th. The communications equipment provider reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.04. Ribbon Communications had a negative return on equity of 34.72% and a negative net margin of 24.39%. The firm had revenue of $244.20 million for the quarter, compared to the consensus estimate of $243.82 million.
In other Ribbon Communications news, EVP Sam Bucci sold 7,500 shares of the stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $8.83, for a total transaction of $66,225.00. Following the transaction, the executive vice president now owns 67,947 shares in the company, valued at $599,972.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.03% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Virtu Financial LLC acquired a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $67,000. JPMorgan Chase & Co. raised its holdings in shares of Ribbon Communications by 0.6% during the fourth quarter. JPMorgan Chase & Co. now owns 50,259,493 shares of the communications equipment provider’s stock valued at $329,703,000 after acquiring an additional 310,108 shares during the last quarter. Truist Financial Corp acquired a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $146,000. Squarepoint Ops LLC raised its holdings in shares of Ribbon Communications by 68.9% during the fourth quarter. Squarepoint Ops LLC now owns 62,931 shares of the communications equipment provider’s stock valued at $413,000 after acquiring an additional 25,664 shares during the last quarter. Finally, Mission Creek Capital Partners Inc. acquired a new position in shares of Ribbon Communications during the fourth quarter valued at approximately $165,000. Institutional investors own 65.29% of the company’s stock.
Shares of RBBN traded up $0.37 during mid-day trading on Friday, reaching $8.56. The company had a trading volume of 5,482 shares, compared to its average volume of 844,523. Ribbon Communications has a 52-week low of $2.71 and a 52-week high of $11.25. The company has a quick ratio of 1.10, a current ratio of 1.26 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $1.25 billion, a P/E ratio of -4.96 and a beta of 1.17. The stock has a 50 day moving average of $8.61 and a two-hundred day moving average of $6.63.
About Ribbon Communications
Ribbon Communications Inc provides networked software solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, managed intelligent edge, cloud communications as a service, and communications analytics and security solutions.
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