Sonus Networks (SONS) Releases Quarterly Earnings Results
Sonus Networks (NASDAQ:SONS) released its earnings data on Tuesday. The company reported $0.01 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.01, Analyst Ratings Net reports. The company had revenue of $68.10 million for the quarter, compared to the consensus estimate of $69.37 million. During the same quarter last year, the company posted ($0.02) earnings per share. Sonus Networks’s revenue was up 19.5% compared to the same quarter last year. Sonus Networks updated its Q4 guidance to $0.02 EPS.
Sonus Networks (NASDAQ:SONS) traded up 1.68% on Tuesday, hitting $3.33. The stock had a trading volume of 1,749,319 shares. Sonus Networks has a one year low of $1.36 and a one year high of $3.82. The stock has a 50-day moving average of $3.47 and a 200-day moving average of $2.90. The company’s market cap is $941.8 million.
On the ratings front, analysts at Zacks upgraded shares of Sonus Networks from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, August 1st. They now have a $3.70 price target on the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Sonus Networks presently has an average rating of “Buy” and a consensus target price of $4.21.
Sonus Networks, Inc (NASDAQ:SONS) is a provider of networked solutions for communications service providers e.