Sonus Networks, Inc. (SONS) Receives Average Rating of “Hold” from Analysts
Shares of Sonus Networks, Inc. (NASDAQ:SONS) have been given a consensus rating of “Hold” by the ten research firms that are covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $8.29.
A number of equities analysts recently weighed in on the stock. B. Riley restated a “neutral” rating and set a $7.75 target price on shares of Sonus Networks in a report on Tuesday, June 27th. Northland Securities set a $10.00 target price on shares of Sonus Networks and gave the stock a “buy” rating in a report on Tuesday, July 4th. ValuEngine downgraded shares of Sonus Networks from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. William Blair upgraded shares of Sonus Networks from a “market perform” rating to an “outperform” rating in a report on Thursday, June 1st. Finally, Benchmark Co. assumed coverage on shares of Sonus Networks in a report on Wednesday, April 26th. They set a “buy” rating and a $4.00 target price on the stock.
A number of institutional investors have recently added to or reduced their stakes in SONS. Capital Investment Advisors LLC bought a new position in Sonus Networks during the second quarter worth approximately $106,000. PEAK6 Investments L.P. boosted its position in Sonus Networks by 69.1% in the first quarter. PEAK6 Investments L.P. now owns 18,265 shares of the communications equipment provider’s stock worth $120,000 after buying an additional 7,465 shares during the period. Trexquant Investment LP bought a new position in Sonus Networks during the first quarter worth approximately $161,000. Tudor Investment Corp Et Al bought a new position in Sonus Networks during the fourth quarter worth approximately $154,000. Finally, American International Group Inc. boosted its position in Sonus Networks by 7.0% in the first quarter. American International Group Inc. now owns 29,368 shares of the communications equipment provider’s stock worth $194,000 after buying an additional 1,930 shares during the period. 65.35% of the stock is owned by hedge funds and other institutional investors.
Sonus Networks (NASDAQ:SONS) traded down 1.03% during mid-day trading on Monday, reaching $7.70. 171,018 shares of the company traded hands. Sonus Networks has a one year low of $5.51 and a one year high of $10.00. The firm’s market cap is $381.32 million. The stock’s 50-day moving average price is $7.52 and its 200-day moving average price is $6.82.
Sonus Networks (NASDAQ:SONS) last issued its earnings results on Wednesday, April 26th. The communications equipment provider reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.04. The business had revenue of $53.37 million for the quarter, compared to the consensus estimate of $52.11 million. Sonus Networks had a negative net margin of 8.07% and a negative return on equity of 3.80%. The firm’s revenue for the quarter was down 9.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. Analysts forecast that Sonus Networks will post $0.23 earnings per share for the current fiscal year.
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.
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