Equities research analysts expect Ribbon Communications Inc (NASDAQ:RBBN) to report sales of $171.35 million for the current quarter, Zacks reports. Two analysts have made estimates for Ribbon Communications’ earnings. The lowest sales estimate is $170.70 million and the highest is $172.00 million. Ribbon Communications reported sales of $146.21 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 17.2%. The business is expected to issue its next earnings results on Thursday, March 7th.
According to Zacks, analysts expect that Ribbon Communications will report full-year sales of $609.96 million for the current year, with estimates ranging from $609.32 million to $610.60 million. For the next fiscal year, analysts forecast that the company will report sales of $639.50 million, with estimates ranging from $632.00 million to $647.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings results on Tuesday, October 30th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06. The firm had revenue of $152.46 million for the quarter, compared to analysts’ expectations of $138.40 million. Ribbon Communications had a positive return on equity of 6.72% and a negative net margin of 16.28%. The firm’s revenue for the quarter was up 104.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS.
Several equities analysts have issued reports on RBBN shares. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research report on Thursday, October 11th. BidaskClub cut Ribbon Communications from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, August 8th. National Securities started coverage on Ribbon Communications in a research report on Monday, October 22nd. They set a “buy” rating and a $8.50 target price on the stock. Finally, ValuEngine upgraded Ribbon Communications from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Two analysts have rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $8.13.
RBBN stock traded down $0.19 during trading on Friday, hitting $5.19. The company had a trading volume of 355,334 shares, compared to its average volume of 509,531. The stock has a market capitalization of $568.81 million, a PE ratio of 74.14, a price-to-earnings-growth ratio of 1.03 and a beta of 1.49. Ribbon Communications has a 1-year low of $4.96 and a 1-year high of $8.36. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.04.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Ribbon Communications during the 3rd quarter worth about $202,000. Ramsey Quantitative Systems boosted its position in shares of Ribbon Communications by 397.2% during the 3rd quarter. Ramsey Quantitative Systems now owns 30,882 shares of the communications equipment provider’s stock valued at $211,000 after acquiring an additional 24,671 shares in the last quarter. MetLife Investment Advisors LLC acquired a new stake in shares of Ribbon Communications during the 3rd quarter valued at about $274,000. Rhumbline Advisers boosted its position in shares of Ribbon Communications by 17.0% during the 2nd quarter. Rhumbline Advisers now owns 54,434 shares of the communications equipment provider’s stock valued at $388,000 after acquiring an additional 7,912 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Ribbon Communications during the 2nd quarter valued at about $396,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.
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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