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

Posted by Karen Miller on Oct 24th, 2024

Ribbon Communications (NASDAQ:RBBN – Get Free Report) issued its earnings results on Wednesday. The communications equipment provider reported $0.05 earnings per share (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 during the quarter, compared to the consensus estimate of $212.17 million. Ribbon Communications had a positive return on equity of 5.32% and a negative net margin of 6.68%. The company’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. Ribbon Communications updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Ribbon Communications Stock Performance

Shares of RBBN stock traded up $0.24 during mid-day trading on Thursday, reaching $3.67. 99,956 shares of the company’s stock traded hands, compared to its average volume of 361,162. Ribbon Communications has a 12 month low of $1.78 and a 12 month high of $3.95. The firm has a 50 day moving average price of $3.21 and a two-hundred day moving average price of $3.17. The firm has a market capitalization of $640.53 million, a PE ratio of -11.44 and a beta of 1.09. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.48.

Wall Street Analyst Weigh In

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

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About Ribbon Communications

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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.