Sonus Networks, Inc. (NASDAQ:SONS)‘s stock had its “sell” rating restated by investment analysts at Cowen and Company in a note issued to investors on Tuesday.

A number of other brokerages also recently issued reports on SONS. Northland Securities set a $10.00 price target on shares of Sonus Networks and gave the stock a “buy” rating in a report on Tuesday, July 4th. B. Riley reiterated a “neutral” rating and issued a $7.75 target price on shares of Sonus Networks in a report on Sunday, July 2nd. BidaskClub cut shares of Sonus Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. DA Davidson raised shares of Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 price target for the company in a research report on Monday, August 7th. Finally, Zacks Investment Research cut shares of Sonus Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Four equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Sonus Networks has an average rating of “Hold” and an average target price of $8.64.

Sonus Networks (NASDAQ SONS) opened at 7.37 on Tuesday. The company has a 50 day moving average price of $7.38 and a 200-day moving average price of $7.31. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $8.64. The company’s market cap is $366.19 million.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.07. The business had revenue of $55.70 million for the quarter, compared to the consensus estimate of $53.93 million. Sonus Networks had a negative return on equity of 6.18% and a negative net margin of 12.15%. The business’s quarterly revenue was down 8.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.08 earnings per share. Equities analysts predict that Sonus Networks will post $0.25 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company increased its position in Sonus Networks by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 39,957 shares of the communications equipment provider’s stock worth $298,000 after acquiring an additional 1,692 shares during the period. American International Group Inc. increased its position in Sonus Networks by 7.0% during the first quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after acquiring an additional 1,930 shares during the period. KBC Group NV increased its position in Sonus Networks by 3.2% during the first quarter. KBC Group NV now owns 67,142 shares of the communications equipment provider’s stock worth $442,000 after acquiring an additional 2,085 shares during the period. Voya Investment Management LLC increased its position in Sonus Networks by 18.9% during the second quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock worth $189,000 after acquiring an additional 4,033 shares during the period. Finally, Federated Investors Inc. PA increased its position in Sonus Networks by 26.1% during the second quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock worth $149,000 after acquiring an additional 4,133 shares during the period. 68.64% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for Sonus Networks (NASDAQ:SONS)

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