Ribbon Communications (RBBN) Scheduled to Post Earnings on Wednesday

Ribbon Communications (NASDAQ:RBBN) will post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Ribbon Communications to post earnings of ($0.01) per share for the quarter. Ribbon Communications has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Parties that wish to listen to the company’s conference call can do so using this link.

Ribbon Communications (NASDAQ:RBBN) last released its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Ribbon Communications had a positive return on equity of 3.53% and a negative net margin of 8.01%. The business had revenue of $226.40 million for the quarter, compared to analysts’ expectations of $233.63 million.

Ribbon Communications Stock Performance

Shares of NASDAQ:RBBN opened at $2.57 on Monday. The business’s fifty day moving average price is $3.00 and its two-hundred day moving average price is $2.68. Ribbon Communications has a fifty-two week low of $1.78 and a fifty-two week high of $3.65. The stock has a market capitalization of $441.35 million, a price-to-earnings ratio of -6.43 and a beta of 1.19. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.23 and a quick ratio of 1.00.

Insider Buying and Selling

In other Ribbon Communications news, EVP Dan Redington sold 34,452 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $3.10, for a total value of $106,801.20. Following the completion of the transaction, the executive vice president now directly owns 66,839 shares in the company, valued at $207,200.90. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Dan Redington sold 34,452 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 directly owns 66,839 shares of the company’s stock, valued at $207,200.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bruns H. Grayson purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average cost of $2.89 per share, with a total value of $289,000.00. Following the completion of the acquisition, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The disclosure for this purchase can be found here. Over the last three months, insiders bought 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. 1.91% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ribbon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of RBBN. Vanguard Group Inc. grew its holdings in shares of Ribbon Communications by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 6,983,212 shares of the communications equipment provider’s stock valued at $20,251,000 after acquiring an additional 120,901 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Ribbon Communications by 327.2% in the fourth quarter. GSA Capital Partners LLP now owns 188,714 shares of the communications equipment provider’s stock worth $547,000 after buying an additional 144,543 shares in the last quarter. Barclays PLC increased its stake in Ribbon Communications by 186.9% in the fourth quarter. Barclays PLC now owns 174,490 shares of the communications equipment provider’s stock valued at $505,000 after acquiring an additional 113,670 shares during the last quarter. Voya Investment Management LLC increased its stake in Ribbon Communications by 7.3% in the fourth quarter. Voya Investment Management LLC now owns 149,386 shares of the communications equipment provider’s stock valued at $433,000 after acquiring an additional 10,147 shares during the last quarter. Finally, Brevan Howard Capital Management LP bought a new position in shares of Ribbon Communications during the fourth quarter valued at about $46,000. Institutional investors own 70.92% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Ribbon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th.

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.