Analysts forecast that Ribbon Communications Inc (NASDAQ:RBBN) will announce $125.29 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Ribbon Communications’ earnings, with the lowest sales estimate coming in at $125.00 million and the highest estimate coming in at $125.50 million. Ribbon Communications posted sales of $53.37 million in the same quarter last year, which would indicate a positive year over year growth rate of 134.8%. The firm is expected to issue its next earnings results on Wednesday, April 25th.

On average, analysts expect that Ribbon Communications will report full-year sales of $576.57 million for the current financial year, with estimates ranging from $570.00 million to $580.00 million. For the next financial year, analysts anticipate that the business will post sales of $591.90 million per share, with estimates ranging from $591.80 million to $592.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Ribbon Communications.

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Ribbon Communications (NASDAQ:RBBN) last announced its quarterly earnings results on Thursday, March 1st. The communications equipment provider reported $0.16 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.18 by ($0.02). The company had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $150.25 million. Ribbon Communications had a negative net margin of 10.68% and a positive return on equity of 3.22%. Ribbon Communications’s revenue for the quarter was up 150.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.09 earnings per share.

RBBN has been the subject of several recent research reports. William Blair reiterated a “buy” rating on shares of Ribbon Communications in a research report on Monday, March 12th. TheStreet cut Ribbon Communications from a “c-” rating to a “d+” rating in a research report on Friday, March 16th. BidaskClub cut Ribbon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research cut Ribbon Communications from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. Finally, ValuEngine cut Ribbon Communications from a “hold” rating to a “sell” rating in a research report on Monday, February 5th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $7.25.

Shares of NASDAQ RBBN traded up $0.08 during mid-day trading on Monday, hitting $5.35. The company had a trading volume of 218,333 shares, compared to its average volume of 500,356. The stock has a market cap of $537.16, a PE ratio of 76.43 and a beta of 1.77. Ribbon Communications has a 1 year low of $4.97 and a 1 year high of $9.05. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.07 and a current ratio of 1.16.

In other Ribbon Communications news, CEO Franklin W. Iv Hobbs acquired 75,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was bought at an average price of $5.66 per share, with a total value of $424,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael R. Swade sold 13,979 shares of Ribbon Communications stock in a transaction on Friday, March 16th. The shares were sold at an average price of $5.14, for a total value of $71,852.06. The disclosure for this sale can be found here. 7.68% of the stock is currently owned by insiders.

A number of large investors have recently bought and sold shares of RBBN. First Trust Advisors LP bought a new stake in Ribbon Communications during the fourth quarter valued at $31,591,000. BlackRock Inc. bought a new stake in Ribbon Communications during the fourth quarter valued at $24,599,000. Renaissance Technologies LLC bought a new stake in Ribbon Communications during the fourth quarter valued at $13,486,000. Central Securities Corp bought a new stake in Ribbon Communications during the fourth quarter valued at $9,396,000. Finally, Royce & Associates LP bought a new stake in Ribbon Communications during the fourth quarter valued at $5,290,000. 84.45% of the stock is owned by institutional investors.

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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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