$54.00 Million in Sales Expected for Sonus Networks, Inc. (NASDAQ:SONS) This Quarter
Wall Street brokerages expect that Sonus Networks, Inc. (NASDAQ:SONS) will post $54.00 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Sonus Networks’ earnings, with the lowest sales estimate coming in at $53.90 million and the highest estimate coming in at $54.10 million. Sonus Networks posted sales of $60.86 million in the same quarter last year, which would indicate a negative year over year growth rate of 11.3%. The business is scheduled to report its next quarterly earnings report before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that Sonus Networks will report full year sales of $54.00 million for the current year, with estimates ranging from $251.40 million to $256.60 million. For the next year, analysts expect that the firm will post sales of $266.67 million per share, with estimates ranging from $265.00 million to $268.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sonus Networks.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.04. The business had revenue of $53.37 million during the quarter, compared to analysts’ expectations of $52.11 million. Sonus Networks had a negative return on equity of 3.80% and a negative net margin of 8.07%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.03 earnings per share.
Several brokerages recently weighed in on SONS. B. Riley restated a “neutral” rating and issued a $7.75 price target on shares of Sonus Networks in a research note on Tuesday, June 27th. Benchmark Co. started coverage on Sonus Networks in a research note on Wednesday, April 26th. They set a “buy” rating and a $4.00 price objective for the company. William Blair reiterated a “hold” rating on shares of Sonus Networks in a research note on Monday, May 1st. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Saturday, April 29th. Finally, Northland Securities set a $10.00 price objective on Sonus Networks and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $8.29.
Sonus Networks (NASDAQ SONS) traded down 2.07% during mid-day trading on Friday, hitting $7.58. The company had a trading volume of 62,665 shares. The firm’s market capitalization is $375.38 million. The company has a 50-day moving average price of $7.52 and a 200 day moving average price of $6.82. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $10.00.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SONS. Capital Investment Advisors LLC acquired a new position in Sonus Networks during the second quarter worth approximately $106,000. PEAK6 Investments L.P. boosted its position in Sonus Networks by 69.1% in the first quarter. PEAK6 Investments L.P. now owns 18,265 shares of the communications equipment provider’s stock worth $120,000 after buying an additional 7,465 shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in Sonus Networks during the fourth quarter worth approximately $154,000. Trexquant Investment LP acquired a new position in Sonus Networks during the first quarter worth approximately $161,000. Finally, American International Group Inc. boosted its position in Sonus Networks by 7.0% in the first quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 1,930 shares in the last quarter. Hedge funds and other institutional investors own 65.31% of the company’s stock.
Sonus Networks Company Profile
Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers and enterprises to help them secure and unify their real-time communications infrastructures. The Company helps communications service providers and enterprises hold the session initiation protocol (SIP) and fourth generation (4G)/long term evolution (LTE)-based solutions, including voice over Internet protocol (VoIP), voice over wireless fidelity (VoWiFi), video and unified communications (UC) by securing and enabling Internet Protocol (IP) networks.
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