Q4 2024 Earnings Estimate for Ribbon Communications Inc. (NASDAQ:RBBN) Issued By Northland Capmk

Ribbon Communications Inc. (NASDAQ:RBBN) – Analysts at Northland Capmk lowered their Q4 2024 EPS estimates for Ribbon Communications in a note issued to investors on Thursday, July 25th. Northland Capmk analyst T. Savageaux now anticipates that the communications equipment provider will earn $0.12 per share for the quarter, down from their prior estimate of $0.14. The consensus estimate for Ribbon Communications’ current full-year earnings is $0.14 per share.

RBBN has been the subject of a number of other research reports. Rosenblatt Securities reissued a “buy” rating and issued a $5.00 price objective on shares of Ribbon Communications in a report on Thursday, July 25th. B. Riley increased their target price on shares of Ribbon Communications from $6.00 to $6.50 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, JMP Securities began coverage on shares of Ribbon Communications in a research note on Monday, April 29th. They set a “mkt outperform” rating and a $6.00 target price for the company.

Ribbon Communications Trading Down 1.2 %

Shares of RBBN opened at $3.23 on Monday. Ribbon Communications has a 12-month low of $1.78 and a 12-month high of $3.95. The firm has a 50-day moving average price of $3.26 and a 200 day moving average price of $3.13. The firm has a market capitalization of $561.73 million, a P/E ratio of -9.23 and a beta of 1.08.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Wednesday, July 24th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.21%. The firm had revenue of $192.62 million during the quarter, compared to analysts’ expectations of $203.05 million. During the same period in the prior year, the company posted $0.01 EPS.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Panagora Asset Management Inc. boosted its stake in shares of Ribbon Communications by 2.4% in the second quarter. Panagora Asset Management Inc. now owns 195,509 shares of the communications equipment provider’s stock valued at $643,000 after purchasing an additional 4,553 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Ribbon Communications by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 434,204 shares of the communications equipment provider’s stock valued at $1,429,000 after purchasing an additional 31,644 shares during the period. Gladius Capital Management LP purchased a new position in shares of Ribbon Communications in the second quarter valued at approximately $34,000. Innealta Capital LLC purchased a new position in shares of Ribbon Communications in the first quarter valued at approximately $32,000. Finally, Pacific Ridge Capital Partners LLC boosted its stake in shares of Ribbon Communications by 7.1% in the first quarter. Pacific Ridge Capital Partners LLC now owns 148,591 shares of the communications equipment provider’s stock valued at $475,000 after purchasing an additional 9,822 shares during the period. Hedge funds and other institutional investors own 70.92% of the company’s stock.

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.