Ribbon Communications (RBBN) Set to Announce Earnings on Wednesday

Ribbon Communications (NASDAQ:RBBN - Get Free Report) is set to issue its quarterly earnings data 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.Parties that are interested in participating in the company's conference call can do so using this link.

Ribbon Communications (NASDAQ:RBBN - Get Free Report) last posted its quarterly 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. The business had revenue of $226.40 million during the quarter, compared to the consensus estimate of $233.63 million. Ribbon Communications had a negative net margin of 8.01% and a positive return on equity of 3.53%.

Ribbon Communications Trading Down 1.5 %

Shares of RBBN traded down $0.04 on Wednesday, reaching $2.57. 329,102 shares of the company's stock were exchanged, compared to its average volume of 402,895. 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 stock has a market capitalization of $441.35 million, a P/E ratio of -6.53 and a beta of 1.19. The business has a 50 day moving average price of $3.05 and a two-hundred day moving average price of $2.68. Ribbon Communications has a 12 month low of $1.78 and a 12 month high of $3.65.

Insider Buying and Selling

In related news, EVP Dan Redington sold 34,452 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the transaction, the executive vice president now owns 66,839 shares in the company, valued at $207,200.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Dan Redington sold 34,452 shares of the business's stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $3.10, for a total transaction of $106,801.20. Following the completion of the transaction, the executive vice president now owns 66,839 shares in the company, valued at $207,200.90. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Bruns H. Grayson acquired 100,000 shares of the firm's stock in a transaction that occurred on Friday, March 15th. The shares were purchased at an average price of $2.89 per share, with a total value of $289,000.00. Following the acquisition, the director now 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. Over the last ninety days, insiders acquired 103,000 shares of company stock valued at $297,720 and sold 66,000 shares valued at $205,119. 1.91% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Prelude Capital Management LLC acquired a new position in shares of Ribbon Communications in the first quarter valued at approximately $73,000. Balyasny Asset Management L.P. acquired a new position in Ribbon Communications during the first quarter worth $63,000. Jane Street Group LLC boosted its holdings in Ribbon Communications by 36.5% during the fourth quarter. Jane Street Group LLC now owns 20,171 shares of the communications equipment provider's stock worth $56,000 after purchasing an additional 5,394 shares during the last quarter. Sei Investments Co. boosted its holdings in Ribbon Communications by 21.9% during the first quarter. Sei Investments Co. now owns 23,058 shares of the communications equipment provider's stock worth $49,000 after purchasing an additional 4,138 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Ribbon Communications during the fourth quarter worth $46,000. Institutional investors and hedge funds own 70.92% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Ribbon Communications from a "hold" rating to a "buy" rating in a research note 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.