Sonus Networks Inc. (NASDAQ:SONS) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.08-0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.09. The company issued revenue guidance of $63-65 million, compared to the consensus revenue estimate of $64.24 million.
Sonus Networks Inc. (NASDAQ:SONS) opened at 8.46 on Tuesday. Sonus Networks Inc. has a 12-month low of $5.15 and a 12-month high of $10.00. The firm’s 50-day moving average price is $8.64 and its 200-day moving average price is $8.42. The stock’s market cap is $417.86 million.
Sonus Networks (NASDAQ:SONS) last released its earnings results on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. Sonus Networks had a positive return on equity of 1.75% and a negative net margin of 1.80%. The firm had revenue of $60.90 million for the quarter, compared to analysts’ expectations of $59.67 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, equities analysts predict that Sonus Networks Inc. will post $0.38 EPS for the current fiscal year.
A number of equities research analysts have recently commented on SONS shares. William Blair reissued a hold rating on shares of Sonus Networks in a research note on Tuesday, June 14th. Zacks Investment Research cut Sonus Networks from a buy rating to a hold rating in a research report on Wednesday, June 29th. DA Davidson assumed coverage on Sonus Networks in a research report on Wednesday, July 20th. They set a buy rating and a $12.00 price objective on the stock. B. Riley cut Sonus Networks from a buy rating to a neutral rating and set a $10.25 price objective on the stock. in a research report on Tuesday, July 26th. Finally, TheStreet raised Sonus Networks from a sell rating to a hold rating in a research report on Wednesday, July 27th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $10.50.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in Sonus Networks during the second quarter worth $127,000. AQR Capital Management LLC increased its position in Sonus Networks by 192.8% in the second quarter. AQR Capital Management LLC now owns 138,701 shares of the company’s stock worth $1,206,000 after buying an additional 91,336 shares in the last quarter. Panagora Asset Management Inc. increased its position in Sonus Networks by 504.1% in the second quarter. Panagora Asset Management Inc. now owns 37,318 shares of the company’s stock worth $324,000 after buying an additional 31,141 shares in the last quarter. A.R.T. Advisors LLC increased its position in Sonus Networks by 13.5% in the second quarter. A.R.T. Advisors LLC now owns 122,035 shares of the company’s stock worth $1,060,000 after buying an additional 14,500 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in Sonus Networks during the second quarter worth $531,000. 68.22% of the stock is currently owned by institutional investors.
Sonus Networks Company Profile
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.
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