Barrington Research Initiates Coverage on Sonus Networks (SONS)
Stock analysts at Barrington Research began coverage on shares of Sonus Networks (NASDAQ:SONS) in a report issued on Friday, TheFlyOnTheWall.com reports. The firm set a “market perform” rating on the stock.
Sonus Networks (NASDAQ:SONS) traded up 0.70% during mid-day trading on Friday, hitting $3.585. 345,517 shares of the company’s stock traded hands. Sonus Networks has a 1-year low of $2.68 and a 1-year high of $3.98. The stock’s 50-day moving average is $3.50 and its 200-day moving average is $3.30. The company’s market cap is $888.3 million.
Sonus Networks (NASDAQ:SONS) last posted its quarterly earnings results on Thursday, April 24th. The company reported $0.01 earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.01) by $0.02. The company had revenue of $70.74 million for the quarter, compared to the consensus estimate of $70.08 million. During the same quarter last year, the company posted ($0.02) earnings per share. Sonus Networks’s revenue was up 11.8% compared to the same quarter last year. On average, analysts predict that Sonus Networks will post $0.06 earnings per share for the current fiscal year.
Separately, analysts at William Blair initiated coverage on shares of Sonus Networks in a research note on Tuesday, April 29th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $4.21.
Sonus Networks, Inc (NASDAQ:SONS) is a provider of networked solutions for communications service providers e.
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