Equities research analysts expect Ribbon Communications Inc. (NASDAQ:RBBN) to report $192.52 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Ribbon Communications’ earnings. The lowest sales estimate is $190.00 million and the highest is $195.04 million. Ribbon Communications posted sales of $157.98 million during the same quarter last year, which suggests a positive year over year growth rate of 21.9%. The firm is expected to report its next earnings results on Wednesday, May 5th.
On average, analysts expect that Ribbon Communications will report full-year sales of $927.70 million for the current fiscal year, with estimates ranging from $925.00 million to $930.41 million. For the next fiscal year, analysts forecast that the company will report sales of $976.77 million, with estimates ranging from $972.00 million to $981.54 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Tuesday, February 16th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.04. Ribbon Communications had a negative return on equity of 34.72% and a negative net margin of 24.39%. The firm had revenue of $244.20 million for the quarter, compared to the consensus estimate of $243.82 million.
Several analysts recently issued reports on the company. B. Riley increased their target price on Ribbon Communications from $12.00 to $14.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Wednesday, February 24th.
In other Ribbon Communications news, EVP Sam Bucci sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $8.83, for a total transaction of $66,225.00. Following the completion of the transaction, the executive vice president now owns 67,947 shares in the company, valued at approximately $599,972.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.03% of the company’s stock.
Several large investors have recently bought and sold shares of RBBN. Ropes Wealth Advisors LLC bought a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $27,000. Hershey Trust Co. bought a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $67,000. Virtu Financial LLC bought a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $67,000. Lazard Asset Management LLC bought a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $78,000. Finally, Strs Ohio bought a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $80,000. 65.29% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ RBBN traded up $0.37 during trading on Monday, hitting $8.56. The company had a trading volume of 5,482 shares, compared to its average volume of 844,523. The stock has a 50 day simple moving average of $8.61 and a 200 day simple moving average of $6.63. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.10 and a current ratio of 1.26. Ribbon Communications has a 12 month low of $2.71 and a 12 month high of $11.25. The firm has a market capitalization of $1.25 billion, a P/E ratio of -4.96 and a beta of 1.17.
About Ribbon Communications
Ribbon Communications Inc provides networked software solutions in the United States, Europe, the Middle East, Africa, Japan, other Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, managed intelligent edge, cloud communications as a service, and communications analytics and security solutions.
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