Q4 2024 Earnings Estimate for Ribbon Communications Inc. (NASDAQ:RBBN) Issued By Northland Capmk

Ribbon Communications Inc. (NASDAQ:RBBN) – Equities researchers at Northland Capmk decreased their Q4 2024 earnings estimates for Ribbon Communications in a report released on Thursday, July 25th. Northland Capmk analyst T. Savageaux now expects that the communications equipment provider will post earnings per share of $0.12 for the quarter, down from their previous forecast of $0.14. The consensus estimate for Ribbon Communications’ current full-year earnings is $0.14 per share.

RBBN has been the subject of a number of other research reports. Rosenblatt Securities reissued a “buy” rating and set a $5.00 price target on shares of Ribbon Communications in a research report on Thursday, July 25th. B. Riley raised their price target on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, JMP Securities started coverage on shares of Ribbon Communications in a research report on Monday, April 29th. They set a “mkt outperform” rating and a $6.00 price target for the company.

Ribbon Communications Stock Down 1.2 %

Shares of NASDAQ:RBBN opened at $3.23 on Monday. Ribbon Communications has a 52-week low of $1.78 and a 52-week high of $3.95. The company has a 50 day moving average of $3.26 and a two-hundred day moving average of $3.13. The company has a market capitalization of $561.73 million, a price-to-earnings ratio of -9.23 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.01). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.21%. The firm had revenue of $192.62 million during the quarter, compared to analyst estimates of $203.05 million. During the same period last year, the business earned $0.01 EPS.

Hedge Funds Weigh In On Ribbon Communications

Several large investors have recently added to or reduced their stakes in RBBN. Brandes Investment Partners LP lifted its stake in Ribbon Communications by 43.4% during the fourth quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock worth $1,859,000 after purchasing an additional 193,829 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Ribbon Communications during the fourth quarter worth $387,000. Panagora Asset Management Inc. bought a new position in Ribbon Communications during the fourth quarter worth $296,000. Bailard Inc. bought a new position in Ribbon Communications during the fourth quarter worth $257,000. Finally, Victory Capital Management Inc. lifted its stake in Ribbon Communications by 29.3% during the fourth quarter. Victory Capital Management Inc. now owns 295,103 shares of the communications equipment provider’s stock worth $856,000 after purchasing an additional 66,949 shares during the last quarter. 70.92% of the stock is currently owned by institutional investors.

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.