Zacks: Analysts Anticipate Ribbon Communications Inc. (RBBN) Will Post Quarterly Sales of $138.62 Million
Brokerages predict that Ribbon Communications Inc. (NASDAQ:RBBN) will report $138.62 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Ribbon Communications’ earnings, with estimates ranging from $137.50 million to $140.00 million. Ribbon Communications reported sales of $53.37 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 159.7%. The company is scheduled to issue its next earnings results on Wednesday, April 25th.
On average, analysts expect that Ribbon Communications will report full-year sales of $138.62 million for the current fiscal year, with estimates ranging from $617.00 million to $635.77 million. For the next fiscal year, analysts forecast that the company will post sales of $643.35 million per share, with estimates ranging from $638.30 million to $648.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Ribbon Communications.
Ribbon Communications (NASDAQ:RBBN) last issued its quarterly earnings data on Thursday, March 1st. The communications equipment provider reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02). Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 4.79%. The business had revenue of $169.50 million for the quarter, compared to analysts’ expectations of $150.25 million. During the same quarter in the prior year, the company posted $0.09 EPS. The business’s revenue for the quarter was up 150.7% on a year-over-year basis.
Shares of Ribbon Communications (NASDAQ:RBBN) opened at $5.86 on Monday. Ribbon Communications has a twelve month low of $5.77 and a twelve month high of $9.05. The company has a market capitalization of $601.09, a price-to-earnings ratio of -10.10, a PEG ratio of 1.25 and a beta of 1.66.
A number of hedge funds have recently modified their holdings of RBBN. Bank of Montreal Can purchased a new position in Ribbon Communications in the 4th quarter worth $152,000. Schwab Charles Investment Management Inc. purchased a new position in Ribbon Communications in the 4th quarter worth $1,705,000. Strs Ohio purchased a new position in Ribbon Communications in the 4th quarter worth $469,000. Horrell Capital Management Inc. acquired a new stake in Ribbon Communications during the 4th quarter worth about $2,441,000. Finally, Cowen Prime Services LLC acquired a new stake in Ribbon Communications during the 4th quarter worth about $4,398,000. Institutional investors own 82.09% of the company’s stock.
Ribbon Communications Company Profile
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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