Zacks: Analysts Expect Sonus Networks, Inc. (SONS) Will Announce Quarterly Sales of $70.93 Million
Equities analysts forecast that Sonus Networks, Inc. (NASDAQ:SONS) will post sales of $70.93 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Sonus Networks’ earnings, with the highest sales estimate coming in at $71.70 million and the lowest estimate coming in at $70.03 million. Sonus Networks reported sales of $65.01 million during the same quarter last year, which indicates a positive year over year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 25th.
According to Zacks, analysts expect that Sonus Networks will report full-year sales of $70.93 million for the current year, with estimates ranging from $248.10 million to $251.80 million. For the next year, analysts forecast that the company will post sales of $261.10 million per share, with estimates ranging from $255.00 million to $267.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.07. The company had revenue of $55.70 million for the quarter, compared to the consensus estimate of $53.93 million. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. Sonus Networks’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS.
SONS has been the topic of several recent analyst reports. William Blair reaffirmed a “hold” rating on shares of Sonus Networks in a report on Monday, May 1st. Zacks Investment Research raised shares of Sonus Networks from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a report on Saturday, April 29th. Benchmark Co. initiated coverage on shares of Sonus Networks in a report on Wednesday, April 26th. They set a “buy” rating and a $4.00 price objective on the stock. Northland Securities set a $10.00 price objective on shares of Sonus Networks and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, ValuEngine downgraded shares of Sonus Networks from a “hold” rating to a “sell” rating in a report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Sonus Networks presently has an average rating of “Hold” and an average target price of $8.57.
Several large investors have recently modified their holdings of the stock. Neuberger Berman Group LLC boosted its stake in shares of Sonus Networks by 3.4% in the first quarter. Neuberger Berman Group LLC now owns 2,013,990 shares of the communications equipment provider’s stock worth $13,272,000 after buying an additional 66,816 shares during the period. American International Group Inc. boosted its stake in shares of 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. KBC Group NV boosted its stake in shares of Sonus Networks by 3.2% in the first quarter. KBC Group NV now owns 67,142 shares of the communications equipment provider’s stock worth $442,000 after buying an additional 2,085 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Sonus Networks by 2,607.2% in the first quarter. JPMorgan Chase & Co. now owns 1,018,573 shares of the communications equipment provider’s stock worth $6,713,000 after buying an additional 980,948 shares during the period. Finally, Alambic Investment Management L.P. boosted its stake in shares of Sonus Networks by 61.1% in the first quarter. Alambic Investment Management L.P. now owns 130,800 shares of the communications equipment provider’s stock worth $862,000 after buying an additional 49,600 shares during the period. Institutional investors and hedge funds own 71.19% of the company’s stock.
Shares of Sonus Networks (SONS) opened at 6.84 on Friday. The company’s market capitalization is $339.85 million. Sonus Networks has a one year low of $5.51 and a one year high of $8.86. The firm has a 50-day moving average of $7.21 and a 200-day moving average of $7.01.
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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