Ribbon Communications (NASDAQ:RBBN – Get Free Report) announced its quarterly earnings data on Wednesday. The communications equipment provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01), Briefing.com reports. The firm 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 firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Ribbon Communications updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.
Ribbon Communications Trading Up 6.1 %
Shares of RBBN stock traded up $0.21 during trading hours 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 current ratio of 1.48, a quick ratio of 1.19 and a debt-to-equity ratio of 0.82. Ribbon Communications has a 12-month low of $1.78 and a 12-month high of $3.95. The firm has a market capitalization of $635.29 million, a price-to-earnings ratio of -11.44 and a beta of 1.09. The company’s 50-day moving average price is $3.21 and its 200-day moving average price is $3.17.
Analyst Upgrades and Downgrades
Separately, Rosenblatt Securities reaffirmed a “buy” rating and issued a $5.00 price target on shares of Ribbon Communications in a report on Wednesday, September 25th.
Ribbon Communications Company Profile
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.
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