B. Riley Comments on Ribbon Communications Inc.’s Q2 2024 Earnings (NASDAQ:RBBN)

Ribbon Communications Inc. (NASDAQ:RBBN) – B. Riley decreased their Q2 2024 earnings per share estimates for Ribbon Communications in a report released on Thursday, April 25th. B. Riley analyst D. Kang now forecasts that the communications equipment provider will post earnings per share of $0.01 for the quarter, down from their previous estimate of $0.03. B. Riley 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.

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

Ribbon Communications Price Performance

Ribbon Communications stock opened at $3.13 on Monday. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $537.52 million, a PE ratio of -8.94 and a beta of 1.19. Ribbon Communications has a 12 month low of $1.78 and a 12 month high of $3.65. The stock has a 50-day moving average price of $2.97 and a two-hundred day moving average price of $2.69.

Ribbon Communications (NASDAQ:RBBN) last posted its earnings results on Wednesday, February 14th. The communications equipment provider reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $226.40 million during the quarter, compared to the consensus estimate of $233.63 million. Ribbon Communications had a positive return on equity of 4.26% and a negative net margin of 7.11%.

Insider Transactions at Ribbon Communications

In related news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the transaction, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction dated Friday, March 15th. The stock was bought at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the transaction, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Dan Redington sold 34,452 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $3.10, for a total value of $106,801.20. Following the transaction, the executive vice president now owns 66,839 shares of the company’s stock, valued at $207,200.90. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. 2.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ribbon Communications

Large investors have recently added to or reduced their stakes in the business. Brown Advisory Inc. acquired a new stake in Ribbon Communications during the fourth quarter worth approximately $33,000. Principal Financial Group Inc. acquired a new stake in Ribbon Communications during the third quarter worth approximately $35,000. NewEdge Wealth LLC acquired a new stake in Ribbon Communications during the fourth quarter worth approximately $40,000. Vestmark Advisory Solutions Inc. acquired a new stake in Ribbon Communications during the fourth quarter worth approximately $40,000. Finally, Caxton Associates LP acquired a new stake in Ribbon Communications during the third quarter worth approximately $41,000. Institutional investors and hedge funds own 70.92% of the company’s stock.

About Ribbon Communications

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.