Sonus Networks Inc. (SONS) to Post FY2016 Earnings of ($0.03) Per Share, DA Davidson Forecasts
Sonus Networks Inc. (NASDAQ:SONS) – Equities researchers at DA Davidson dropped their FY2016 earnings per share estimates for Sonus Networks in a research report issued to clients and investors on Wednesday. DA Davidson analyst M. Kelleher now forecasts that the firm will earn ($0.03) per share for the year, down from their prior estimate of ($0.01). DA Davidson has a “Buy” rating and a $12.00 price target on the stock. DA Davidson also issued estimates for Sonus Networks’ Q4 2016 earnings at $0.05 EPS.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.05. The firm earned $60.90 million during the quarter, compared to analysts’ expectations of $59.67 million. Sonus Networks had a positive return on equity of 1.75% and a negative net margin of 1.80%. The business’s quarterly revenue was up 11.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS.
Other research analysts have also recently issued reports about the company. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a research note on Wednesday, August 17th. B. Riley restated a “buy” rating and set a $12.25 price target on shares of Sonus Networks in a research note on Thursday, July 28th. TheStreet upgraded Sonus Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, William Blair restated a “hold” rating on shares of Sonus Networks in a research note on Wednesday, September 28th. 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. Sonus Networks has a consensus rating of “Hold” and an average price target of $9.20.
Shares of Sonus Networks (NASDAQ:SONS) opened at 7.70 on Monday. Sonus Networks has a 52-week low of $5.15 and a 52-week high of $10.00. The stock has a 50 day moving average price of $8.53 and a 200-day moving average price of $8.45. The firm’s market cap is $380.32 million.
Several hedge funds have recently bought and sold shares of SONS. Bogle Investment Management L P DE raised its stake in Sonus Networks by 11.8% in the first quarter. Bogle Investment Management L P DE now owns 286,694 shares of the company’s stock worth $2,158,000 after buying an additional 30,242 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in Sonus Networks by 46.4% in the first quarter. Jacobs Levy Equity Management Inc. now owns 442,510 shares of the company’s stock worth $3,332,000 after buying an additional 140,200 shares in the last quarter. Oxford Asset Management bought a new stake in Sonus Networks during the second quarter worth $1,548,000. Algert Global LLC bought a new stake in Sonus Networks during the first quarter worth $987,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new stake in Sonus Networks during the second quarter worth $320,000. 68.22% of the stock is currently owned by institutional investors and hedge funds.
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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