Q2 2024 EPS Estimates for Ribbon Communications Inc. (NASDAQ:RBBN) Reduced by Analyst

Ribbon Communications Inc. (NASDAQ:RBBN) – B. Riley cut their Q2 2024 earnings per share estimates for shares of Ribbon Communications in a research note issued to investors on Thursday, April 25th. B. Riley analyst D. Kang now expects that the communications equipment provider will post earnings of $0.01 per share for the quarter, down from their previous forecast of $0.03. B. Riley currently has a “Buy” rating and a $6.50 price objective 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 quarterly 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. The firm had revenue of $226.40 million for the quarter, compared to analyst estimates of $233.63 million. Ribbon Communications had a negative net margin of 7.11% and a positive return on equity of 4.26%.

A number of other analysts have also recently issued reports on RBBN. StockNews.com raised Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th. JMP Securities started coverage on Ribbon Communications in a report on Monday. They set a “mkt outperform” rating and a $6.00 price target for the company.

Ribbon Communications Trading Up 0.3 %

Shares of NASDAQ:RBBN opened at $3.17 on Monday. Ribbon Communications has a 52-week low of $1.78 and a 52-week high of $3.65. 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 company has a market capitalization of $544.38 million, a P/E ratio of -9.06 and a beta of 1.19. The company has a 50-day simple moving average of $2.96 and a 200 day simple moving average of $2.71.

Insider Buying and Selling at Ribbon Communications

In other news, Director Bruns H. Grayson purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was acquired at an average cost of $2.89 per share, with a total value of $289,000.00. Following the acquisition, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of Ribbon Communications stock in a transaction dated Monday, February 26th. The shares were 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 owns 66,839 shares in the company, valued at approximately $207,200.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruns H. Grayson purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was bought at an average price of $2.89 per share, with a total value of $289,000.00. Following the completion of the purchase, the director now owns 590,175 shares of the company’s stock, valued at approximately $1,705,605.75. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 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.

Institutional Trading of Ribbon Communications

Large investors have recently modified their holdings of the stock. Brown Advisory Inc. bought a new position in shares of Ribbon Communications in the fourth quarter worth about $33,000. Principal Financial Group Inc. acquired a new position in Ribbon Communications in the third quarter valued at approximately $35,000. NewEdge Wealth LLC acquired a new position in shares of Ribbon Communications during the 4th quarter valued at $40,000. Vestmark Advisory Solutions Inc. acquired a new position in shares of Ribbon Communications during the fourth quarter valued at about $40,000. Finally, Caxton Associates LP bought a new position in Ribbon Communications in the third quarter worth approximately $41,000. 70.92% of the stock is owned by institutional investors and hedge funds.

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.