Analysts predict that Ribbon Communications Inc (NASDAQ:RBBN) will post $0.02 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Ribbon Communications’ earnings. The lowest EPS estimate is $0.00 and the highest is $0.04. Ribbon Communications reported earnings per share of ($0.02) in the same quarter last year, which suggests a positive year-over-year growth rate of 200%. The business is expected to report its next quarterly earnings results on Thursday, August 2nd.
According to Zacks, analysts expect that Ribbon Communications will report full-year earnings of $0.39 per share for the current financial year, with EPS estimates ranging from $0.33 to $0.46. For the next fiscal year, analysts anticipate that the company will post earnings of $0.55 per share, with EPS estimates ranging from $0.49 to $0.69. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that follow Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Thursday, April 26th. The communications equipment provider reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $135.00 million during the quarter, compared to analysts’ expectations of $119.14 million. Ribbon Communications had a positive return on equity of 2.70% and a negative net margin of 17.48%. Ribbon Communications’s revenue for the quarter was up 152.8% compared to the same quarter last year.
RBBN has been the subject of a number of analyst reports. Zacks Investment Research upgraded Ribbon Communications from a “sell” rating to a “hold” rating in a research note on Saturday, April 28th. BidaskClub cut Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, May 17th. William Blair restated a “buy” rating on shares of Ribbon Communications in a research note on Monday, March 12th. Finally, TheStreet cut Ribbon Communications from a “c-” rating to a “d+” rating in a research note on Friday, March 16th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Ribbon Communications presently has an average rating of “Hold” and a consensus price target of $7.25.
Shares of Ribbon Communications traded up $0.09, reaching $7.27, during mid-day trading on Monday, according to MarketBeat.com. 315 shares of the company were exchanged, compared to its average volume of 286,328. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.13 and a quick ratio of 1.03. The stock has a market capitalization of $747.35 million, a P/E ratio of 104.00 and a beta of 1.62. Ribbon Communications has a 1 year low of $4.97 and a 1 year high of $9.05.
A number of large investors have recently made changes to their positions in RBBN. Schwab Charles Investment Management Inc. acquired a new position in Ribbon Communications during the 4th quarter valued at about $1,705,000. Teacher Retirement System of Texas acquired a new position in Ribbon Communications during the 4th quarter valued at about $110,000. California Public Employees Retirement System acquired a new stake in shares of Ribbon Communications in the fourth quarter valued at $1,267,000. Swiss National Bank purchased a new position in Ribbon Communications in the fourth quarter valued at $626,000. Finally, Wells Fargo & Company MN purchased a new position in Ribbon Communications in the fourth quarter valued at $194,000. 81.29% of the stock is currently owned by institutional investors.
About Ribbon Communications
Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.
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