Wall Street brokerages forecast that Sonus Networks, Inc. (NASDAQ:SONS) will report sales of $70.68 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Sonus Networks’ earnings, with the lowest sales estimate coming in at $70.03 million and the highest estimate coming in at $71.00 million. Sonus Networks reported sales of $65.01 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The company is expected to announce its next quarterly earnings results on Wednesday, October 25th.

According to Zacks, analysts expect that Sonus Networks will report full-year sales of $70.68 million for the current fiscal year, with estimates ranging from $248.10 million to $250.10 million. For the next fiscal year, analysts expect that the firm will report sales of $261.00 million per share, with estimates ranging from $255.00 million to $267.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Sonus Networks.

Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. Sonus Networks had a negative return on equity of 6.18% and a negative net margin of 12.15%. The business had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same quarter last year, the business posted $0.08 earnings per share. The business’s revenue for the quarter was down 8.5% on a year-over-year basis.

SONS has been the topic of a number of research reports. DA Davidson raised Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price objective on the stock in a research note on Monday, August 7th. B. Riley reissued a “neutral” rating and issued a $7.75 price objective on shares of Sonus Networks in a research note on Sunday, July 2nd. William Blair raised Sonus Networks from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 1st. Cowen and Company reissued a “sell” rating and issued a $5.00 price objective on shares of Sonus Networks in a research note on Friday, August 4th. Finally, BidaskClub downgraded Sonus Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Four investment analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the stock. Sonus Networks has a consensus rating of “Hold” and a consensus price target of $8.57.

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Several institutional investors have recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Sonus Networks by 16.4% during 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 purchasing an additional 580,597 shares during the period. Vanguard Group Inc. raised its position in shares of Sonus Networks by 10.8% during the second quarter. Vanguard Group Inc. now owns 3,176,565 shares of the communications equipment provider’s stock worth $23,635,000 after purchasing an additional 309,553 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Sonus Networks by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock worth $23,439,000 after purchasing an additional 444,006 shares during the period. Neuberger Berman Group LLC raised its position in shares of Sonus Networks by 19.4% during the second quarter. Neuberger Berman Group LLC now owns 2,404,604 shares of the communications equipment provider’s stock worth $17,890,000 after purchasing an additional 390,614 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Sonus Networks by 60.8% during the second quarter. JPMorgan Chase & Co. now owns 1,637,933 shares of the communications equipment provider’s stock worth $12,186,000 after purchasing an additional 619,360 shares during the period. 68.66% of the stock is currently owned by institutional investors.

Shares of Sonus Networks (SONS) traded up 0.29% on Thursday, hitting $6.89. The stock had a trading volume of 98,636 shares. The firm’s market cap is $342.34 million. The company’s 50-day moving average price is $6.91 and its 200 day moving average price is $7.06. Sonus Networks has a 12-month low of $5.51 and a 12-month high of $8.85.

About Sonus Networks

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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Earnings History and Estimates for Sonus Networks (NASDAQ:SONS)

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