In today’s recent session, 1.53 million shares of the Ribbon Communications Inc (NASDAQ:RBBN) have been traded, and its beta is 1.23. Most recently the company’s share price was $3.29, and it changed around $0.72 or 28.02% from the last close, which brings the market valuation of the company to $567.39M. RBBN at last check was trading at a discount to its 52-week high of $3.65, offering almost -10.94% off that amount. The share price’s 52-week low was $1.78, which indicates that the recent value has risen by an impressive 45.9% since then. We note from Ribbon Communications Inc’s average daily trading volume that its 3-month average coming to 413.91K.
Ribbon Communications Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.40. If we narrow it down even further, the data shows that 1 out of 6 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended RBBN as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. Ribbon Communications Inc is expected to report earnings per share of $0 for the current quarter.
Ribbon Communications Inc (NASDAQ:RBBN) trade information
Instantly RBBN has been showing a green trend so far today with a performance of 28.02% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 13.45% year-to-date, but still up 28.02% over the last five days. On the other hand, Ribbon Communications Inc (NASDAQ:RBBN) is 5.45% up in the 30-day period.
Ribbon Communications Inc (RBBN) estimates and forecasts
Ribbon Communications Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 67.01 percent over the past six months and at a 23.81% annual growth rate that is well below the industry average of 38.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 100.00% in revenue this quarter, and will report an increase of 25.00% in the next quarter. The year-over-year growth rate is expected to be 3.30%, up from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $185.03 million in revenue for the current quarter. 4 analysts expect Ribbon Communications Inc to make $208.21 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $186.72 million and $210.62 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -0.90%. Forecasts for the next quarter put sales growth at -1.10%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 12.07%. Ribbon Communications Inc earnings are expected to increase by 29.76% in 2024, but the outlook is positive 20.00% per year for the next five years.
