Sonus Networks Inc. (NASDAQ:SONS) – Research analysts at William Blair cut their FY2016 earnings estimates for shares of Sonus Networks in a note issued to investors on Tuesday. William Blair analyst D. Netis now anticipates that the firm will post earnings of ($0.01) per share for the year, down from their previous estimate of $0.02. William Blair currently has a “Hold” rating on the stock. William Blair also issued estimates for Sonus Networks’ Q4 2016 earnings at $0.06 EPS, Q1 2017 earnings at ($0.08) EPS, Q2 2017 earnings at ($0.03) EPS and FY2017 earnings at ($0.01) EPS.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.05. The firm had revenue of $60.90 million for the quarter, compared to analysts’ expectations 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 quarter last year, the business earned ($0.10) EPS.
Other equities research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Wednesday, August 17th. B. Riley reiterated a “buy” rating and issued a $12.25 price objective on shares of Sonus Networks in a report on Thursday, July 28th. DA Davidson initiated coverage on Sonus Networks in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 price objective for the company. TheStreet upgraded Sonus Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. Finally, Cowen and Company cut Sonus Networks from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $8.00 to $4.00 in a report on Thursday. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $9.20.
Sonus Networks (NASDAQ:SONS) opened at 7.78 on Thursday. The company’s market cap is $384.27 million. Sonus Networks has a 52-week low of $5.15 and a 52-week high of $10.00. The firm’s 50-day moving average price is $8.57 and its 200 day moving average price is $8.43.
A number of hedge funds and other institutional investors have recently made changes to their positions in SONS. 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 during the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Sonus Networks during the second quarter worth about $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 worth $174,000 after buying an additional 6,841 shares during the last quarter. 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 worth $222,000 after buying an additional 7,795 shares during the last quarter. Finally, Nwam LLC bought a new position in shares of Sonus Networks during the second quarter worth about $224,000. Institutional investors and hedge funds 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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