Sonus Networks Inc. (SONS) Sets New 12-Month High at $9.52
Sonus Networks Inc. (NASDAQ:SONS) hit a new 52-week high during trading on Wednesday . The company traded as high as $9.52 and last traded at $9.33, with a volume of 270,761 shares changing hands. The stock had previously closed at $8.92.
A number of equities research analysts recently commented on SONS shares. B. Riley restated a “buy” rating and issued a $12.25 price objective on shares of Sonus Networks in a research report on Saturday, April 30th. DA Davidson started coverage on shares of Sonus Networks in a research report on Wednesday. They issued a “buy” rating for the company. Zacks Investment Research downgraded shares of Sonus Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Finally, William Blair restated a “hold” rating on shares of Sonus Networks in a research report on Tuesday, June 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Sonus Networks has an average rating of “Buy” and a consensus target price of $10.44.
The stock’s 50 day moving average price is $8.80 and its 200-day moving average price is $7.64. The company’s market capitalization is $466.65 million.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Wednesday, April 27th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The firm earned $59.20 million during the quarter, compared to analysts’ expectations of $58.38 million. During the same quarter last year, the company posted ($0.27) EPS. The firm’s revenue was up 18.2% compared to the same quarter last year. Analysts anticipate that Sonus Networks Inc. will post $0.32 earnings per share for the current year.
Other large investors have recently modified their holdings of the company. Cowen Prime Services LLC increased its stake in shares of Sonus Networks by 10.0% in the fourth quarter. Cowen Prime Services LLC now owns 149,131 shares of the company’s stock valued at $1,063,000 after buying an additional 13,500 shares during the period. Nationwide Fund Advisors raised its position in Sonus Networks by 226.2% in the fourth quarter. Nationwide Fund Advisors now owns 151,809 shares of the company’s stock valued at $1,082,000 after buying an additional 105,273 shares in the last quarter. Morgan Stanley raised its position in Sonus Networks by 606.6% in the fourth quarter. Morgan Stanley now owns 263,424 shares of the company’s stock valued at $1,879,000 after buying an additional 226,146 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Sonus Networks by 26.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,641,624 shares of the company’s stock valued at $11,705,000 after buying an additional 342,192 shares in the last quarter.
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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