Equities analysts expect Ribbon Communications Inc (NASDAQ:RBBN) to announce $0.24 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ribbon Communications’ earnings. The lowest EPS estimate is $0.21 and the highest is $0.27. Ribbon Communications posted earnings per share of $0.27 during the same quarter last year, which suggests a negative year over year growth rate of 11.1%. The company is scheduled to issue its next earnings results after the market closes on Wednesday, February 20th.
On average, analysts expect that Ribbon Communications will report full-year earnings of $0.55 per share for the current fiscal year, with EPS estimates ranging from $0.52 to $0.59. For the next year, analysts anticipate that the firm will post earnings of $0.64 per share, with EPS estimates ranging from $0.63 to $0.65. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ribbon Communications.
Several analysts have issued reports on RBBN shares. Zacks Investment Research raised shares of Ribbon Communications from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research note on Thursday, October 11th. National Securities started coverage on shares of Ribbon Communications in a research note on Monday, October 22nd. They issued a “buy” rating and a $8.50 price objective for the company. ValuEngine raised shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a research note on Friday, January 4th. Finally, BidaskClub raised shares of Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $7.13.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in shares of Ribbon Communications by 0.7% during the 3rd quarter. BlackRock Inc. now owns 3,566,289 shares of the communications equipment provider’s stock worth $24,359,000 after purchasing an additional 26,211 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Ribbon Communications during the 3rd quarter worth about $202,000. GSA Capital Partners LLP acquired a new position in shares of Ribbon Communications during the 3rd quarter worth about $1,048,000. Pacific Ridge Capital Partners LLC grew its stake in Ribbon Communications by 11.6% during the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 215,530 shares of the communications equipment provider’s stock valued at $1,472,000 after acquiring an additional 22,430 shares in the last quarter. Finally, TIAA CREF Investment Management LLC grew its stake in Ribbon Communications by 12.1% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 359,009 shares of the communications equipment provider’s stock valued at $2,452,000 after acquiring an additional 38,833 shares in the last quarter. Hedge funds and other institutional investors own 79.23% of the company’s stock.
RBBN traded down $0.12 on Thursday, hitting $5.37. The company had a trading volume of 137,372 shares, compared to its average volume of 234,687. The firm has a market cap of $584.79 million, a P/E ratio of 76.71, a P/E/G ratio of 0.88 and a beta of 1.47. Ribbon Communications has a 12-month low of $4.62 and a 12-month high of $7.89. The company has a current ratio of 0.91, a quick ratio of 0.83 and a debt-to-equity ratio of 0.04.
Ribbon Communications Company Profile
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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