Ribbon Communications (NASDAQ:RBBN) Issues Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Posted by Joseph McCarthy on Oct 24th, 2024

Ribbon Communications (NASDAQ:RBBN – Get Free Report) announced its quarterly earnings data on Wednesday. The communications equipment provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.01), Briefing.com reports. The company had revenue of $210.00 million for the quarter, compared to the consensus estimate of $212.17 million. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The company’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.03 EPS. Ribbon Communications updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Ribbon Communications Stock Performance

RBBN traded up $0.21 on Thursday, reaching $3.64. 129,406 shares of the stock were exchanged, compared to its average volume of 361,305. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.48 and a quick ratio of 1.19. The company’s 50-day moving average price is $3.21 and its 200 day moving average price is $3.17. The firm has a market capitalization of $635.29 million, a PE ratio of -11.44 and a beta of 1.09. Ribbon Communications has a fifty-two week low of $1.78 and a fifty-two week high of $3.95.

Analyst Upgrades and Downgrades

Separately, Rosenblatt Securities reiterated a “buy” rating and set a $5.00 price objective on shares of Ribbon Communications in a research note on Wednesday, September 25th.

Check Out Our Latest Stock Analysis on RBBN

Ribbon Communications Company Profile

(Get Free Report)

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.