Ribbon Communications (RBBN) Posts Earnings Results, Beats Estimates By $0.01 EPS

Ribbon Communications (NASDAQ:RBBN) issued its quarterly earnings data on Wednesday. The communications equipment provider reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.01, Bloomberg Earnings reports. The business had revenue of $173.00 million for the quarter, compared to analyst estimates of $171.81 million. Ribbon Communications had a positive return on equity of 6.72% and a negative net margin of 16.28%. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.27 EPS.

NASDAQ:RBBN traded down $0.08 during mid-day trading on Wednesday, hitting $6.07. 354,600 shares of the company’s stock traded hands, compared to its average volume of 259,815. Ribbon Communications has a 12 month low of $4.62 and a 12 month high of $7.89. The company has a market cap of $655.10 million, a price-to-earnings ratio of 86.71, a PEG ratio of 0.93 and a beta of 1.47. The company has a quick ratio of 0.83, a current ratio of 0.91 and a debt-to-equity ratio of 0.04.

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A number of research analysts have recently commented on RBBN shares. ValuEngine raised Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research lowered Ribbon Communications from a “buy” rating to a “hold” rating in a report on Friday, November 2nd. Finally, BidaskClub raised Ribbon Communications from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 16th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Ribbon Communications has an average rating of “Hold” and an average target price of $7.13.

A number of large investors have recently made changes to their positions in RBBN. BlackRock Inc. boosted its stake in Ribbon Communications by 13.4% during the 4th quarter. BlackRock Inc. now owns 4,045,401 shares of the communications equipment provider’s stock valued at $19,498,000 after purchasing an additional 479,112 shares during the period. Intrinsic Edge Capital Management LLC bought a new stake in Ribbon Communications during the 4th quarter valued at approximately $1,467,000. Vanguard Group Inc boosted its stake in Ribbon Communications by 8.6% during the 3rd quarter. Vanguard Group Inc now owns 3,647,288 shares of the communications equipment provider’s stock valued at $24,911,000 after purchasing an additional 288,331 shares during the period. Vanguard Group Inc. boosted its stake in Ribbon Communications by 8.6% during the 3rd quarter. Vanguard Group Inc. now owns 3,647,288 shares of the communications equipment provider’s stock valued at $24,911,000 after purchasing an additional 288,331 shares during the period. Finally, First Trust Advisors LP bought a new stake in Ribbon Communications during the 3rd quarter valued at approximately $1,898,000. Hedge funds and other institutional investors own 79.15% of the company’s stock.

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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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Earnings History for Ribbon Communications (NASDAQ:RBBN)

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