Sonus Networks Inc. (SONS) Given Outperform Rating at Oppenheimer Holdings Inc.
Several other brokerages also recently issued reports on SONS. Zacks Investment Research raised shares of Sonus Networks from a hold rating to a buy rating and set a $9.75 price objective for the company in a research report on Saturday, July 30th. B. Riley reaffirmed a neutral rating and issued a $7.00 price objective on shares of Sonus Networks in a research report on Tuesday, November 1st. TheStreet downgraded shares of Sonus Networks from a hold rating to a sell rating in a research report on Wednesday, November 9th. Finally, Cowen and Company cut Sonus Networks from a market perform rating to an underperform rating and reduced their target price for the company from $8.00 to $4.00 in a research note on Thursday, September 29th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $9.95.
Sonus Networks (NASDAQ:SONS) opened at 6.34 on Friday. The firm has a 50-day moving average of $6.55 and a 200 day moving average of $8.18. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00. The firm’s market capitalization is $313.42 million.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.03. Sonus Networks had a negative net margin of 2.52% and a positive return on equity of 1.51%. The company earned $65 million during the quarter, compared to the consensus estimate of $64.24 million. During the same quarter last year, the company earned $0.11 earnings per share. Sonus Networks’s revenue for the quarter was down 4.2% on a year-over-year basis. Analysts predict that Sonus Networks will post $0.30 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “Sonus Networks Inc. (SONS) Given Outperform Rating at Oppenheimer Holdings Inc.” was reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this piece on another website, it was copied illegally and reposted in violation of US and international copyright and trademark laws. The original version of this piece can be accessed at https://www.thecerbatgem.com/2016/11/28/sonus-networks-inc-sons-given-outperform-rating-at-oppenheimer-holdings-inc.html.
A number of large investors have recently modified their holdings of SONS. BlackRock Inc. raised 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 in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Sonus Networks during the second quarter valued at $127,000. Quantitative Investment Management LLC raised its stake in shares of Sonus Networks by 69.3% in the third quarter. Quantitative Investment Management LLC now owns 17,100 shares of the company’s stock valued at $133,000 after buying an additional 7,000 shares in the last quarter. First Midwest Bank Trust Division raised 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 in the last quarter. Finally, Nwam LLC bought a new stake in shares of Sonus Networks during the second quarter valued at $224,000. 68.64% of the stock is currently owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for Sonus Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sonus Networks Inc. and related stocks with our FREE daily email newsletter.