Cowen and Company Reaffirms “Sell” Rating for Sonus Networks, Inc. (SONS)

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.

Analyst Recommendations for Sonus Networks (NASDAQ:SONS)

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