Sonus Networks’ (SONS) Hold Rating Reaffirmed at William Blair
Several other research firms also recently issued reports on SONS. B. Riley downgraded shares of Sonus Networks from a buy rating to a neutral rating and set a $10.25 price objective for the company. in a report on Tuesday, July 26th. DA Davidson began coverage on shares of Sonus Networks in a report on Wednesday, July 20th. They set a buy rating and a $12.00 price objective for the company. Zacks Investment Research downgraded shares of Sonus Networks from a buy rating to a hold rating in a report on Tuesday, August 16th. Finally, TheStreet raised shares of Sonus Networks from a sell rating to a hold rating in a report on Wednesday, July 27th. One equities 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. Sonus Networks currently has an average rating of Hold and an average target price of $10.50.
Shares of Sonus Networks (NASDAQ:SONS) traded down 8.269% during trading on Wednesday, reaching $7.898. 759,662 shares of the company’s stock were exchanged. The company has a 50 day moving average of $8.63 and a 200 day moving average of $8.43. The firm’s market capitalization is $390.10 million. Sonus Networks has a 52-week low of $5.15 and a 52-week high of $10.00.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.05. The business earned $60.90 million during the quarter, compared to the consensus estimate of $59.67 million. Sonus Networks had a negative net margin of 1.80% and a positive return on equity of 1.75%. Sonus Networks’s quarterly revenue was up 11.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.10) EPS. Equities analysts anticipate that Sonus Networks will post $0.37 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake 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 period. Cubist Systematic Strategies LLC purchased a new stake in shares of Sonus Networks during the second quarter worth about $127,000. Springbok Capital Management LLC boosted its stake 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 period. First Midwest Bank Trust Division boosted its stake 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 period. Finally, Nwam LLC purchased a new stake 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.
About Sonus Networks
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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