Sonus Networks, Inc. (NASDAQ:SONS)‘s stock had its “sell” rating reaffirmed by equities researchers at Cowen and Company in a research note issued on Tuesday, October 17th.
Several other research analysts have also recently issued reports on the stock. Northland Securities set a $10.00 price objective on shares of Sonus Networks and gave the company a “buy” rating in a report on Tuesday, July 4th. William Blair reiterated a “buy” rating on shares of Sonus Networks in a report on Friday, October 13th. B. Riley reiterated a “neutral” rating and issued a $7.75 price objective on shares of Sonus Networks in a report on Sunday, July 2nd. Zacks Investment Research lowered shares of Sonus Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Finally, BidaskClub lowered shares of Sonus Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Three analysts have rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Sonus Networks currently has an average rating of “Hold” and an average target price of $8.64.
Sonus Networks (NASDAQ SONS) traded up $0.22 during mid-day trading on Tuesday, reaching $7.46. The company’s stock had a trading volume of 263,061 shares, compared to its average volume of 579,057. Sonus Networks has a 1-year low of $5.51 and a 1-year high of $9.05.
Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings data on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Sonus Networks had a negative net margin of 8.82% and a negative return on equity of 1.87%. The business had revenue of $74.60 million during the quarter, compared to the consensus estimate of $68.50 million. During the same quarter in the prior year, the firm earned $0.12 EPS. The company’s revenue for the quarter was up 14.8% compared to the same quarter last year. equities research analysts expect that Sonus Networks will post 0.09 earnings per share for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in SONS. JPMorgan Chase & Co. lifted its position in Sonus Networks by 2,607.2% in the 1st quarter. JPMorgan Chase & Co. now owns 1,018,573 shares of the communications equipment provider’s stock worth $6,713,000 after buying an additional 980,948 shares in the last quarter. Boston Partners purchased a new stake in Sonus Networks in the 2nd quarter worth approximately $4,581,000. First Trust Advisors LP lifted its position in Sonus Networks by 16.4% in the 2nd quarter. First Trust Advisors LP now owns 4,113,269 shares of the communications equipment provider’s stock worth $30,603,000 after buying an additional 580,597 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Sonus Networks by 16.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock worth $23,439,000 after buying an additional 444,006 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Sonus Networks by 19.4% during the 2nd quarter. Neuberger Berman Group LLC now owns 2,404,604 shares of the communications equipment provider’s stock worth $17,890,000 after purchasing an additional 390,614 shares during the last quarter. Institutional investors own 67.77% of the company’s stock.
Sonus Networks Company Profile
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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