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

Ribbon Communications (NASDAQ:RBBN) released its quarterly earnings results 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. Ribbon Communications had a negative net margin of 6.68% and a positive return on equity of 5.32%. The firm had revenue of $210.00 million for the quarter, compared to the consensus estimate of $212.17 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Ribbon Communications updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Ribbon Communications Price Performance

Shares of NASDAQ:RBBN opened at $3.70 on Friday. The company has a market capitalization of $645.76 million, a P/E ratio of -11.56 and a beta of 1.09. The company’s 50-day moving average is $3.23 and its 200 day moving average is $3.17. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.19 and a current ratio of 1.48. 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 reissued a “buy” rating and set a $5.00 target price on shares of Ribbon Communications in a research report on Wednesday, September 25th.

About Ribbon Communications

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.