FY2016 EPS Estimates for Sonus Networks Inc. Reduced by Analyst (SONS)
Sonus Networks Inc. (NASDAQ:SONS) – Research analysts at William Blair reduced their FY2016 EPS estimates for Sonus Networks in a research note issued to investors on Tuesday. William Blair analyst D. Netis now forecasts that the brokerage will earn ($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 announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.05. Sonus Networks had a positive return on equity of 1.75% and a negative net margin of 1.80%. The firm had revenue of $60.90 million for the quarter, compared to analyst estimates of $59.67 million. During the same period last year, the firm posted ($0.10) earnings per share. The business’s revenue for the quarter was up 11.3% on a year-over-year basis.
Several other equities research analysts have also recently weighed in on SONS. Zacks Investment Research cut Sonus Networks from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. 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. B. Riley cut 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. 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 in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and three have issued 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) opened at 7.73 on Thursday. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00. The stock’s 50 day moving average price is $8.60 and its 200-day moving average price is $8.43. The firm’s market capitalization is $381.80 million.
Several hedge funds and other institutional investors have recently made changes to their positions in SONS. Algert Global LLC purchased a new position in shares of Sonus Networks during the first quarter valued at about $987,000. Menta Capital LLC raised its position in shares of Sonus Networks by 77.4% in the first quarter. Menta Capital LLC now owns 97,195 shares of the company’s stock valued at $732,000 after buying an additional 42,400 shares in the last quarter. Spark Investment Management LLC raised its position in shares of Sonus Networks by 337.6% in the first quarter. Spark Investment Management LLC now owns 365,400 shares of the company’s stock valued at $2,751,000 after buying an additional 281,900 shares in the last quarter. State Street Corp raised its position in shares of Sonus Networks by 12.9% in the first quarter. State Street Corp now owns 918,643 shares of the company’s stock valued at $6,917,000 after buying an additional 104,710 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Sonus Networks by 1.4% in the first quarter. Geode Capital Management LLC now owns 336,244 shares of the company’s stock valued at $2,531,000 after buying an additional 4,593 shares in the last quarter. 68.22% of the stock is owned by hedge funds and other institutional investors.
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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