Sonus Networks, Inc. (NASDAQ:SONS) announced its earnings results on Thursday. The communications equipment provider reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.07, Bloomberg Earnings reports. Sonus Networks had a negative return on equity of 3.80% and a negative net margin of 8.07%. The company had revenue of $55.70 million for the quarter, compared to the consensus estimate of $53.93 million. During the same period last year, the business posted $0.08 EPS. The company’s revenue was down 8.5% on a year-over-year basis. Sonus Networks updated its FY17 guidance to $0.26 EPS and its Q3 guidance to $0.17-0.20 EPS.

Sonus Networks (NASDAQ SONS) traded down 4.10% during mid-day trading on Friday, hitting $6.32. The stock had a trading volume of 176,517 shares. Sonus Networks has a 12-month low of $5.51 and a 12-month high of $9.05. The stock’s market cap is $312.98 million. The company has a 50-day moving average of $7.53 and a 200-day moving average of $6.98.

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A number of institutional investors have recently modified their holdings of SONS. Federated Investors Inc. PA raised its position in shares of Sonus Networks by 26.1% in the second quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock worth $149,000 after buying an additional 4,133 shares during the period. Marshall Wace North America L.P. acquired a new position in shares of Sonus Networks during the second quarter worth about $956,000. Bank of New York Mellon Corp raised its position in shares of Sonus Networks by 8.5% in the second quarter. Bank of New York Mellon Corp now owns 367,046 shares of the communications equipment provider’s stock worth $2,730,000 after buying an additional 28,832 shares during the period. First Trust Advisors LP raised its position in shares of Sonus Networks by 16.4% in the second quarter. First Trust Advisors LP now owns 4,113,269 shares of the communications equipment provider’s stock worth $30,603,000 after buying an additional 580,597 shares during the period. Finally, Boston Partners acquired a new position in shares of Sonus Networks during the second quarter worth about $4,581,000. 65.39% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. B. Riley reissued a “neutral” rating and issued a $7.75 price target on shares of Sonus Networks in a report on Sunday, July 2nd. William Blair raised Sonus Networks from a “market perform” rating to an “outperform” rating in a report on Thursday, June 1st. Benchmark Co. assumed coverage on Sonus Networks in a report on Wednesday, April 26th. They issued a “buy” rating and a $4.00 price target for the company. Zacks Investment Research raised Sonus Networks from a “hold” rating to a “buy” rating and set a $8.75 price target for the company in a report on Saturday, April 29th. Finally, BidaskClub cut Sonus Networks from a “hold” rating to a “sell” rating in a report on Tuesday, July 25th. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $8.29.

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.

Earnings History for Sonus Networks (NASDAQ:SONS)

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