Q2 2024 Earnings Forecast for Ribbon Communications Inc. Issued By B. Riley (NASDAQ:RBBN)

Ribbon Communications Inc. (NASDAQ:RBBN - Free Report) - Investment analysts at B. Riley reduced their Q2 2024 earnings per share estimates for shares of Ribbon Communications in a note issued to investors on Thursday, April 25th. B. Riley analyst D. Kang now anticipates that the communications equipment provider will post earnings of $0.01 per share for the quarter, down from their prior 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.

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

A number of other research analysts also recently issued reports on the stock. JMP Securities initiated coverage on shares of Ribbon Communications in a research report on Monday. They set a "mkt outperform" rating and a $6.00 target price for the company. StockNews.com upgraded Ribbon Communications from a "hold" rating to a "buy" rating in a research note on Saturday, March 9th.

Ribbon Communications Stock Performance

Shares of RBBN stock traded up $0.03 during trading hours on Monday, hitting $3.16. The company's stock had a trading volume of 746,448 shares, compared to its average volume of 453,287. The stock has a market cap of $542.67 million, a PE ratio of -9.09 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 company has a 50 day moving average of $2.97 and a 200 day moving average of $2.69. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Brown Advisory Inc. purchased a new position in Ribbon Communications in the fourth quarter worth approximately $33,000. Principal Financial Group Inc. purchased a new position in Ribbon Communications during the third quarter worth about $35,000. NewEdge Wealth LLC acquired a new stake in shares of Ribbon Communications during the fourth quarter valued at about $40,000. Vestmark Advisory Solutions Inc. purchased a new stake in shares of Ribbon Communications in the 4th quarter valued at approximately $40,000. Finally, Caxton Associates LP acquired a new position in shares of Ribbon Communications in the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 70.92% of the company's stock.

Insider Buying and Selling

In other news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were bought at an average cost of $2.89 per share, for a total transaction of $289,000.00. Following the acquisition, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Dan Redington sold 34,452 shares of the company'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 in the company, valued at $207,200.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction on Friday, March 15th. The shares were bought 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 approximately $1,705,605.75. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 103,000 shares of company stock valued at $297,720 and sold 66,000 shares valued at $205,119. 2.10% of the stock is currently owned by insiders.

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.