Ribbon Communications (RBBN) Posts Quarterly Earnings Results, Beats Expectations By $0.06 EPS

Ribbon Communications (NASDAQ:RBBN) announced its earnings results on Tuesday. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.06, MarketWatch Earnings reports. Ribbon Communications had a negative net margin of 16.08% and a positive return on equity of 5.69%. The business had revenue of $152.46 million for the quarter, compared to the consensus estimate of $138.40 million. During the same quarter in the prior year, the firm posted $0.14 earnings per share. The business’s revenue for the quarter was up 104.4% on a year-over-year basis.

Shares of NASDAQ RBBN traded up $1.21 during mid-day trading on Wednesday, reaching $6.86. The company had a trading volume of 28,781 shares, compared to its average volume of 186,039. The company has a current ratio of 1.15, a quick ratio of 1.05 and a debt-to-equity ratio of 0.04. The stock has a market cap of $575.21 million, a PE ratio of 99.00, a PEG ratio of 1.24 and a beta of 1.60. Ribbon Communications has a 52 week low of $4.97 and a 52 week high of $8.67.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Ribbon Communications from a “hold” rating to a “sell” rating in a research note on Thursday, July 26th. BidaskClub cut shares of Ribbon Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 17th. National Securities initiated coverage on shares of Ribbon Communications in a report on Monday, October 22nd. They issued a “buy” rating and a $8.50 price target on the stock. William Blair restated a “buy” rating on shares of Ribbon Communications in a report on Tuesday, July 31st. Finally, Cowen upgraded shares of Ribbon Communications from an “underperform” rating to a “market perform” rating in a report on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Ribbon Communications presently has a consensus rating of “Hold” and a consensus target price of $7.75.

About Ribbon Communications

Ribbon Communications Inc provides networked solutions in the United States, Europe, the Middle East, Africa, Japan, rest of the Asia Pacific, and internationally. The company offers service provider solutions, such as fixed network transformation, mobile network evolution, secure network interconnects, network functions virtualization, cloud communications, and communications security solutions that enables to modernize communications networks, as well as provides secure real-time communications software, hardware, and cloud-native solutions.

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Earnings History for Ribbon Communications (NASDAQ:RBBN)

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