DA Davidson Brokers Cut Earnings Estimates for Sonus Networks Inc. (SONS)
Sonus Networks Inc. (NASDAQ:SONS) – Research analysts at DA Davidson cut their Q4 2017 earnings per share estimates for Sonus Networks in a research report issued to clients and investors on Wednesday. DA Davidson analyst M. Kelleher now anticipates that the brokerage will post earnings per share of $0.09 for the quarter, down from their previous forecast of $0.10. DA Davidson currently has a “Buy” rating and a $12.00 target price on the stock.
Sonus Networks (NASDAQ:SONS) last released its earnings results on Wednesday, July 27th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) EPS.
Several other research analysts have also commented on SONS. B. Riley lowered 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. Zacks Investment Research lowered Sonus Networks from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. William Blair reissued a “hold” rating on shares of Sonus Networks in a report on Wednesday. Finally, TheStreet raised Sonus Networks from a “sell” rating to a “hold” rating in a report on Wednesday, July 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $9.20.
Shares of Sonus Networks (NASDAQ:SONS) opened at 7.78 on Friday. The stock’s 50 day moving average is $8.57 and its 200 day moving average is $8.43. The firm’s market cap is $384.27 million. Sonus Networks has a 12 month low of $5.15 and a 12 month high of $10.00.
A number of hedge funds have recently made changes to their positions in SONS. BlackRock Inc. increased 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 valued at $103,000 after buying an additional 7,344 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Sonus Networks during the second quarter valued at $127,000. Springbok Capital Management LLC increased 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 valued at $174,000 after buying an additional 6,841 shares during the last quarter. First Midwest Bank Trust Division increased 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 valued at $222,000 after buying an additional 7,795 shares during the last quarter. Finally, Nwam LLC bought a new stake in shares of Sonus Networks during the second quarter valued at $224,000. Hedge funds and other institutional investors 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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