Ribbon Communications (RBBN) Scheduled to Post Earnings on Wednesday

Ribbon Communications (NASDAQ:RBBN) will be posting its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter. Ribbon Communications has set its FY 2024 guidance at EPS and its Q1 2024 guidance at EPS.Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Ribbon Communications (NASDAQ:RBBN) last posted its quarterly earnings data on Wednesday, February 14th. The communications equipment provider reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $226.40 million during the quarter, compared to analysts’ expectations of $233.63 million. Ribbon Communications had a negative net margin of 8.01% and a positive return on equity of 3.53%.

Ribbon Communications Trading Down 0.4 %

RBBN stock opened at $2.56 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.00 and a current ratio of 1.23. The company’s fifty day simple moving average is $2.99 and its 200 day simple moving average is $2.68. Ribbon Communications has a 12-month low of $1.78 and a 12-month high of $3.65.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded Ribbon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, March 9th.

Insiders Place Their Bets

In other news, EVP Dan Redington sold 34,452 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $3.10, for a total transaction of $106,801.20. Following the transaction, the executive vice president now owns 66,839 shares of the company’s stock, valued at approximately $207,200.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Ribbon Communications news, Director Bruns H. Grayson acquired 100,000 shares of the stock in a transaction on Friday, March 15th. The shares were purchased at an average price of $2.89 per share, for a total transaction of $289,000.00. Following the completion of the acquisition, the director now owns 590,175 shares in the company, valued at approximately $1,705,605.75. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Dan Redington sold 34,452 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $3.10, for a total transaction of $106,801.20. Following the sale, the executive vice president now directly owns 66,839 shares of the company’s stock, valued at $207,200.90. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 103,000 shares of company stock worth $297,720 and sold 66,000 shares worth $205,119. Corporate insiders own 2.10% of the company’s stock.

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.