Ribbon Communications (RBBN) Scheduled to Post Quarterly Earnings on Wednesday

Ribbon Communications (NASDAQ:RBBN) is set to announce its earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce 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.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

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

Ribbon Communications Stock Performance

Ribbon Communications stock opened at $2.61 on Wednesday. The company’s 50-day moving average price is $3.05 and its 200-day moving average price is $2.68. Ribbon Communications has a twelve month low of $1.78 and a twelve month high of $3.65. The company has a quick ratio of 1.00, a current ratio of 1.23 and a debt-to-equity ratio of 0.44. The company has a market cap of $448.22 million, a PE ratio of -6.53 and a beta of 1.19.

Insider Activity at Ribbon Communications

In related news, EVP Dan Redington sold 23,964 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $3.09, for a total transaction of $74,048.76. Following the transaction, the executive vice president now directly owns 101,291 shares in the company, valued at approximately $312,989.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Bruns H. Grayson bought 100,000 shares of the company’s stock in a transaction on Friday, March 15th. The shares were acquired at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the purchase, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dan Redington sold 23,964 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $3.09, for a total transaction of $74,048.76. Following the completion of the transaction, the executive vice president now owns 101,291 shares in the company, valued at $312,989.19. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. 1.91% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ribbon Communications

A number of hedge funds have recently added to or reduced their stakes in RBBN. Neuberger Berman Group LLC grew its stake in Ribbon Communications by 284.3% in the 3rd quarter. Neuberger Berman Group LLC now owns 13,570,773 shares of the communications equipment provider’s stock worth $30,155,000 after acquiring an additional 10,039,284 shares in the last quarter. Federated Hermes Inc. lifted its position in shares of Ribbon Communications by 129,321,200.0% in the 1st quarter. Federated Hermes Inc. now owns 1,293,213 shares of the communications equipment provider’s stock worth $3,997,000 after purchasing an additional 1,293,212 shares during the period. BlackRock Inc. lifted its position in shares of Ribbon Communications by 18.0% in the 2nd quarter. BlackRock Inc. now owns 7,208,048 shares of the communications equipment provider’s stock worth $20,110,000 after purchasing an additional 1,098,904 shares during the period. First Trust Advisors LP lifted its position in shares of Ribbon Communications by 60.5% in the 1st quarter. First Trust Advisors LP now owns 2,444,168 shares of the communications equipment provider’s stock worth $7,552,000 after purchasing an additional 921,186 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Ribbon Communications by 14.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,552,971 shares of the communications equipment provider’s stock worth $12,702,000 after purchasing an additional 585,999 shares during the period. 70.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

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.