Wall Street analysts forecast that Ribbon Communications Inc (NASDAQ:RBBN) will announce sales of $140.61 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Ribbon Communications’ earnings. The lowest sales estimate is $140.00 million and the highest is $141.21 million. Ribbon Communications posted sales of $74.63 million in the same quarter last year, which suggests a positive year-over-year growth rate of 88.4%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, October 30th.

On average, analysts expect that Ribbon Communications will report full year sales of $580.63 million for the current fiscal year, with estimates ranging from $579.36 million to $581.90 million. For the next year, analysts anticipate that the business will report sales of $587.55 million, with estimates ranging from $583.10 million to $592.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Ribbon Communications.

Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings data on Tuesday, July 31st. The communications equipment provider reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.12. Ribbon Communications had a positive return on equity of 5.69% and a negative net margin of 16.08%. The firm had revenue of $145.00 million for the quarter, compared to the consensus estimate of $134.79 million. The business’s revenue was up 158.9% on a year-over-year basis.

A number of equities analysts recently commented on the company. BidaskClub upgraded Ribbon Communications from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 27th. Zacks Investment Research upgraded Ribbon Communications from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research report on Thursday, October 11th. William Blair reiterated a “buy” rating on shares of Ribbon Communications in a research report on Monday, June 25th. Cowen upgraded Ribbon Communications from an “underperform” rating to a “market perform” rating in a research report on Wednesday, August 1st. Finally, ValuEngine downgraded Ribbon Communications from a “sell” rating to a “strong sell” rating in a research report on Monday, October 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Ribbon Communications stock traded down $0.07 during trading on Monday, reaching $5.65. 184,756 shares of the company were exchanged, compared to its average volume of 196,955. Ribbon Communications has a 52-week low of $4.97 and a 52-week high of $9.05. The company has a market cap of $594.97 million, a price-to-earnings ratio of 80.71, a PEG ratio of 1.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.05 and a current ratio of 1.15.

A number of hedge funds have recently bought and sold shares of RBBN. Paradigm Capital Management Inc. NY increased its stake in Ribbon Communications by 1,177.4% during the second quarter. Paradigm Capital Management Inc. NY now owns 1,085,820 shares of the communications equipment provider’s stock worth $7,731,000 after acquiring an additional 1,000,820 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Ribbon Communications by 104.0% during the first quarter. Russell Investments Group Ltd. now owns 1,339,425 shares of the communications equipment provider’s stock worth $6,830,000 after acquiring an additional 682,716 shares during the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Ribbon Communications during the first quarter worth $3,082,000. Millennium Management LLC increased its stake in Ribbon Communications by 263.4% during the first quarter. Millennium Management LLC now owns 646,661 shares of the communications equipment provider’s stock worth $3,298,000 after acquiring an additional 468,732 shares during the last quarter. Finally, BlackRock Inc. increased its stake in Ribbon Communications by 11.6% during the second quarter. BlackRock Inc. now owns 3,540,078 shares of the communications equipment provider’s stock worth $25,206,000 after acquiring an additional 369,210 shares during the last quarter. 80.49% of the stock is owned by institutional investors.

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 and Estimates for Ribbon Communications (NASDAQ:RBBN)

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