Sonus Networks Inc. (NASDAQ:SONS) – Research analysts at DA Davidson decreased their FY2016 earnings per share estimates for Sonus Networks in a research report issued on Wednesday. DA Davidson analyst M. Kelleher now anticipates that the firm will earn ($0.03) per share for the year, down from their prior estimate of ($0.01). DA Davidson currently has a “Buy” rating and a $12.00 target price on the stock. DA Davidson also issued estimates for Sonus Networks’ Q4 2016 earnings at $0.05 EPS.
Sonus Networks (NASDAQ:SONS) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.05. Sonus Networks had a negative net margin of 1.80% and a positive return on equity of 1.75%. The firm had revenue of $60.90 million for the quarter, compared to the consensus estimate of $59.67 million. During the same period in the previous year, the company earned ($0.10) earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis.
A number of other equities analysts have also recently issued reports on the company. Cowen and Company cut Sonus Networks from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $8.00 to $4.00 in a report on Thursday, September 29th. TheStreet upgraded Sonus Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a report on Wednesday, August 17th. William Blair reiterated a “hold” rating on shares of Sonus Networks in a report on Tuesday, June 14th. Finally, B. Riley cut Sonus Networks from a “buy” rating to a “neutral” rating and set a $10.25 target price on the stock. in a report on Thursday, July 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $9.20.
Sonus Networks (NASDAQ:SONS) opened at 7.70 on Monday. Sonus Networks has a 12-month low of $5.15 and a 12-month high of $10.00. The firm has a 50 day moving average of $8.53 and a 200 day moving average of $8.45. The firm’s market capitalization is $380.32 million.
Institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Sonus Networks by 161.6% in the second quarter. BlackRock Inc. now owns 11,889 shares of the company’s stock worth $103,000 after buying an additional 7,344 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Sonus Networks during the second quarter valued at $127,000. Springbok Capital Management LLC boosted its position in shares of Sonus Networks by 42.0% in the first quarter. Springbok Capital Management LLC now owns 23,125 shares of the company’s stock valued at $174,000 after buying an additional 6,841 shares during the period. First Midwest Bank Trust Division boosted its position in shares of Sonus Networks by 43.8% in the second quarter. First Midwest Bank Trust Division now owns 25,580 shares of the company’s stock valued at $222,000 after buying an additional 7,795 shares during the period. Finally, Nwam LLC bought a new position in shares of Sonus Networks during the second quarter valued at $224,000. Institutional investors own 68.22% of the company’s stock.
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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