Ribbon Communications (RBBN) to Release Quarterly Earnings on Wednesday

Ribbon Communications (NASDAQ:RBBN) 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.Investors interested in participating in the company’s conference call can do so using this link.

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

Ribbon Communications Stock Performance

Shares of RBBN stock opened at $2.56 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.00 and a debt-to-equity ratio of 0.44. Ribbon Communications has a fifty-two week low of $1.78 and a fifty-two week high of $3.65. The stock has a 50 day moving average price of $2.99 and a two-hundred day moving average price of $2.68.

Analysts Set New Price Targets

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

Insider Transactions at Ribbon Communications

In related news, EVP Dan Redington sold 23,964 shares of the company’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, EVP Dan Redington sold 23,964 shares of the business’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 owns 101,291 shares in the company, valued at $312,989.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction on Friday, March 15th. The stock was bought at an average price of $2.89 per share, with a total value of $289,000.00. Following the completion of the acquisition, the director now directly owns 590,175 shares of the company’s stock, valued at $1,705,605.75. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 103,000 shares of company stock worth $297,720 and have sold 66,000 shares worth $205,119. Corporate insiders own 2.10% 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.