Wall Street analysts expect that Ribbon Communications Inc (NASDAQ:RBBN) will announce $140.61 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Ribbon Communications’ earnings, with the lowest sales estimate coming in at $140.00 million and the highest estimate coming in at $141.21 million. Ribbon Communications posted sales of $74.63 million during the same quarter last year, which suggests a positive year-over-year growth rate of 88.4%. The firm is expected to report its next quarterly earnings results after the market closes on Tuesday, October 30th.
On average, analysts expect that Ribbon Communications will report full year sales of $580.63 million for the current fiscal year, with estimates ranging from $579.36 million to $581.90 million. For the next fiscal year, analysts expect that the company will post sales of $587.55 million, with estimates ranging from $583.10 million to $592.00 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings results on Tuesday, July 31st. The communications equipment provider reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.12. Ribbon Communications had a negative net margin of 16.08% and a positive return on equity of 5.69%. The business had revenue of $145.00 million during the quarter, compared to analyst estimates of $134.79 million. Ribbon Communications’s revenue for the quarter was up 158.9% compared to the same quarter last year.
Several research firms have recently commented on RBBN. BidaskClub raised shares of Ribbon Communications from a “buy” rating to a “strong-buy” rating in a report on Wednesday, June 27th. Zacks Investment Research raised shares of Ribbon Communications from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a report on Thursday, October 11th. William Blair reaffirmed a “buy” rating on shares of Ribbon Communications in a report on Monday, June 25th. ValuEngine lowered shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Monday, October 8th. Finally, Cowen raised shares of Ribbon Communications from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $7.00.
Shares of NASDAQ RBBN traded down $0.14 during midday trading on Monday, hitting $5.74. The company’s stock had a trading volume of 1,757 shares, compared to its average volume of 339,532. Ribbon Communications has a 1-year low of $4.97 and a 1-year high of $9.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.15. The firm has a market capitalization of $710.43 million, a PE ratio of 82.86, a price-to-earnings-growth ratio of 1.54 and a beta of 1.60.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its holdings in shares of Ribbon Communications by 11.6% in the 2nd quarter. BlackRock Inc. now owns 3,540,078 shares of the communications equipment provider’s stock valued at $25,206,000 after buying an additional 369,210 shares during the period. Dimensional Fund Advisors LP boosted its stake in Ribbon Communications by 4.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,349,652 shares of the communications equipment provider’s stock valued at $23,849,000 after purchasing an additional 155,747 shares during the period. Royce & Associates LP boosted its stake in Ribbon Communications by 25.6% during the 2nd quarter. Royce & Associates LP now owns 1,725,596 shares of the communications equipment provider’s stock valued at $12,286,000 after purchasing an additional 352,154 shares during the period. Russell Investments Group Ltd. boosted its stake in Ribbon Communications by 13.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,515,635 shares of the communications equipment provider’s stock valued at $10,789,000 after purchasing an additional 176,210 shares during the period. Finally, Paradigm Capital Management Inc. NY boosted its stake in Ribbon Communications by 1,177.4% during the 2nd quarter. Paradigm Capital Management Inc. NY now owns 1,085,820 shares of the communications equipment provider’s stock valued at $7,731,000 after purchasing an additional 1,000,820 shares during the period. 80.53% of the stock is owned by institutional investors and hedge funds.
Ribbon Communications Company Profile
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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