Wall Street brokerages expect Ribbon Communications Inc. (NASDAQ:RBBN) to announce $247.68 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ribbon Communications’ earnings, with the highest sales estimate coming in at $252.04 million and the lowest estimate coming in at $243.32 million. Ribbon Communications posted sales of $244.20 million in the same quarter last year, which suggests a positive year over year growth rate of 1.4%. The firm is expected to report its next quarterly earnings report on Wednesday, February 16th.
On average, analysts expect that Ribbon Communications will report full year sales of $862.06 million for the current financial year, with estimates ranging from $857.70 million to $866.42 million. For the next financial year, analysts expect that the business will report sales of $911.43 million, with estimates ranging from $899.82 million to $923.03 million. Zacks’ sales averages are an average based on a survey of analysts that cover Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, October 27th. The communications equipment provider reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.01). Ribbon Communications had a return on equity of 24.37% and a net margin of 4.99%. The firm had revenue of $210.40 million during the quarter, compared to the consensus estimate of $219.73 million. During the same period in the prior year, the firm posted $0.04 EPS.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its holdings in shares of Ribbon Communications by 26,877.8% during the second quarter. Royal Bank of Canada now owns 4,856 shares of the communications equipment provider’s stock valued at $37,000 after buying an additional 4,838 shares in the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Ribbon Communications during the second quarter valued at $45,000. Macquarie Group Ltd. purchased a new position in shares of Ribbon Communications during the third quarter valued at $45,000. Gotham Asset Management LLC purchased a new position in shares of Ribbon Communications during the third quarter valued at $1,188,000. Finally, Brinker Capital Investments LLC purchased a new position in shares of Ribbon Communications during the second quarter valued at $79,000. Institutional investors and hedge funds own 66.39% of the company’s stock.
Shares of RBBN traded up $0.09 during midday trading on Thursday, reaching $5.89. The stock had a trading volume of 105,231 shares, compared to its average volume of 515,026. Ribbon Communications has a 52 week low of $5.11 and a 52 week high of $11.25. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.47 and a quick ratio of 1.31. The firm’s 50 day moving average price is $6.01 and its 200-day moving average price is $6.76. The company has a market capitalization of $875.40 million, a P/E ratio of 23.56 and a beta of 0.94.
Ribbon Communications Company Profile
Ribbon Communications, Inc delivers communications software, IP and optical networking solutions to service providers, enterprises, and infrastructure sectors. It operates through the following segments: Cloud & Edge and IP Optical Networks. The Cloud and Edge segment provides secure and reliable software and hardware products, solutions, and services for enabling Voice over Internet Protocol (VoIP) communications, Voice over Long-Term Evolution (VoLTE) and Voice Over 5G (VoNR) communications, and Unified Communications and Collaboration (UC&C) within service provider and enterprise networks and from the cloud.
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