Sonus Networks Inc. (SONS) Cut to “Sell” at Zacks Investment Research
According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “
Other research analysts have also issued reports about the company. B. Riley lowered Sonus Networks to a neutral rating and set a $10.25 target price on the stock. in a research report on Tuesday, August 2nd. DA Davidson initiated coverage on Sonus Networks in a research note on Wednesday, July 20th. They set a buy rating and a $12.00 price target on the stock. TheStreet upgraded Sonus Networks from a sell rating to a hold rating in a research note on Wednesday, July 27th. Cowen and Company downgraded Sonus Networks from a market perform rating to an underperform rating and dropped their price target for the company from $8.00 to $4.00 in a research note on Thursday, September 29th. Finally, William Blair reiterated a hold rating on shares of Sonus Networks in a research note on Wednesday, September 28th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $9.20.
Shares of Sonus Networks (NASDAQ:SONS) opened at 7.43 on Friday. The company’s 50-day moving average price is $8.19 and its 200 day moving average price is $8.46. The company’s market cap is $366.98 million. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00.
Sonus Networks (NASDAQ:SONS) last announced its earnings results on Wednesday, July 27th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.05. Sonus Networks had a positive return on equity of 1.75% and a negative net margin of 1.80%. The company had revenue of $60.90 million for the quarter, compared to analyst estimates of $59.67 million. During the same period in the prior year, the company posted ($0.10) EPS. The firm’s quarterly revenue was up 11.3% compared to the same quarter last year. Equities research analysts anticipate that Sonus Networks will post $0.36 earnings per share for the current fiscal year.
Several hedge funds have recently modified their holdings of SONS. Teachers Advisors Inc. increased its stake in shares of Sonus Networks by 0.7% in the second quarter. Teachers Advisors Inc. now owns 84,227 shares of the company’s stock worth $732,000 after buying an additional 603 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Sonus Networks by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 285,280 shares of the company’s stock worth $2,478,000 after buying an additional 1,807 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Sonus Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,850 shares of the company’s stock worth $1,424,000 after buying an additional 2,520 shares during the last quarter. 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 worth $174,000 after buying an additional 6,841 shares during the last quarter. Finally, 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 worth $103,000 after buying an additional 7,344 shares during the last quarter. Hedge funds and other institutional investors own 68.24% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.