Ribbon Communications Inc. (NASDAQ:RBBN) Expected to Earn Q2 2024 Earnings of $0.01 Per Share

Ribbon Communications Inc. (NASDAQ:RBBN) – B. Riley dropped their Q2 2024 earnings per share estimates for shares of Ribbon Communications in a note issued to investors on Thursday, April 25th. B. Riley analyst D. Kang now anticipates that the communications equipment provider will post earnings of $0.01 per share for the quarter, down from their prior estimate of $0.03. B. Riley has a “Buy” rating and a $6.50 price target 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 posted its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%. The firm had revenue of $226.40 million for the quarter, compared to the consensus estimate of $233.63 million.

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

Ribbon Communications Stock Performance

Shares of RBBN opened at $3.16 on Monday. Ribbon Communications has a 52-week low of $1.78 and a 52-week high of $3.65. The stock’s 50-day simple moving average is $2.96 and its 200 day simple moving average is $2.70. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.23. The stock has a market capitalization of $542.67 million, a price-to-earnings ratio of -9.03 and a beta of 1.19.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Paradigm Capital Management Inc. NY lifted its holdings in Ribbon Communications by 6.8% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 7,495,400 shares of the communications equipment provider’s stock worth $20,088,000 after buying an additional 477,047 shares during the period. Silverberg Bernstein Capital Management LLC bought a new position in shares of Ribbon Communications in the fourth quarter worth approximately $1,176,000. Victory Capital Management Inc. increased its stake in Ribbon Communications by 1,411.5% in the 3rd quarter. Victory Capital Management Inc. now owns 228,154 shares of the communications equipment provider’s stock worth $611,000 after buying an additional 213,059 shares in the last quarter. Brandes Investment Partners LP raised its stake in Ribbon Communications by 43.4% during the 4th quarter. Brandes Investment Partners LP now owns 640,945 shares of the communications equipment provider’s stock valued at $1,859,000 after purchasing an additional 193,829 shares during the period. Finally, Assenagon Asset Management S.A. bought a new position in shares of Ribbon Communications during the fourth quarter worth $387,000. Institutional investors own 70.92% of the company’s stock.

Insider Buying and Selling at Ribbon Communications

In other Ribbon Communications 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 transaction 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 $207,200.90. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Bruns H. Grayson bought 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the transaction, the director now directly owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Dan Redington sold 34,452 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 of the company’s stock, valued at approximately $207,200.90. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 103,000 shares of company stock valued at $297,720 and have sold 66,000 shares valued at $205,119. Insiders own 2.10% of the company’s stock.

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.