Other equities analysts also recently issued reports about the company. B. Riley restated a buy rating and issued a $12.25 price objective on shares of Sonus Networks in a report on Thursday, July 28th. Zacks Investment Research downgraded Sonus Networks from a buy rating to a hold rating in a report on Tuesday, August 16th. DA Davidson began coverage on Sonus Networks in a report on Wednesday, July 20th. They set a buy rating and a $12.00 target price on the stock. Finally, TheStreet upgraded Sonus Networks from a sell rating to a hold rating in a report on Wednesday, July 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $9.20.
Shares of Sonus Networks (NASDAQ:SONS) opened at 7.78 on Wednesday. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00. The stock’s market cap is $384.27 million. The firm has a 50-day moving average price of $8.57 and a 200-day moving average price of $8.43.
Sonus Networks (NASDAQ:SONS) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.05. The company had revenue of $60.90 million for the quarter, compared to the consensus estimate of $59.67 million. Sonus Networks had a positive return on equity of 1.75% and a negative net margin of 1.80%. The company’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period last year, the business posted ($0.10) EPS. On average, analysts forecast that Sonus Networks will post $0.36 earnings per share for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. Sterling Capital Management LLC acquired a new stake in shares of Sonus Networks during the second quarter worth $639,000. Schwab Charles Investment Management Inc. raised its stake in shares of Sonus Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,850 shares of the company’s stock worth $1,424,000 after buying an additional 2,520 shares during the period. Numeric Investors LLC acquired a new stake in shares of Sonus Networks during the second quarter worth $3,004,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Sonus Networks during the second quarter worth $127,000. Finally, AQR Capital Management LLC raised its stake in shares of 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 during the period. Hedge funds and other 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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