Sonus Networks, Inc. (NASDAQ:SONS) – Analysts at DA Davidson increased their Q3 2017 earnings per share estimates for Sonus Networks in a research report issued to clients and investors on Monday. DA Davidson analyst M. Kelleher now expects that the communications equipment provider will post earnings per share of $0.16 for the quarter, up from their previous estimate of $0.09. DA Davidson currently has a “Buy” rating and a $8.50 price objective on the stock. DA Davidson also issued estimates for Sonus Networks’ FY2017 earnings at ($0.05) EPS.

Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.07. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. The company had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same quarter in the previous year, the company earned $0.08 EPS. Sonus Networks’s revenue was down 8.5% on a year-over-year basis.

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Several other research firms also recently issued reports on SONS. Zacks Investment Research raised Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price objective for the company in a research note on Wednesday, August 9th. BidaskClub downgraded Sonus Networks from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 3rd. Northland Securities set a $10.00 price objective on Sonus Networks and gave the company a “buy” rating in a research note on Tuesday, July 4th. Cowen and Company reaffirmed a “sell” rating on shares of Sonus Networks in a research note on Tuesday, October 17th. Finally, TheStreet raised Sonus Networks from a “d+” rating to a “c” rating in a research note on Monday. Three research analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Sonus Networks presently has an average rating of “Hold” and an average target price of $8.64.

Shares of Sonus Networks (NASDAQ SONS) opened at 8.12 on Wednesday. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $8.64. The stock’s 50 day moving average is $7.47 and its 200 day moving average is $7.35. The firm’s market cap is $403.45 million.

A number of large investors have recently added to or reduced their stakes in the business. Strs Ohio increased its position in Sonus Networks by 3,900.0% during the 3rd quarter. Strs Ohio now owns 40,000 shares of the communications equipment provider’s stock valued at $306,000 after purchasing an additional 39,000 shares during the period. The Manufacturers Life Insurance Company increased its position in Sonus Networks by 4.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,957 shares of the communications equipment provider’s stock valued at $298,000 after purchasing an additional 1,692 shares during the period. Engine Capital Management LLC increased its position in Sonus Networks by 2,521.9% during the 2nd quarter. Engine Capital Management LLC now owns 262,194 shares of the communications equipment provider’s stock valued at $1,951,000 after purchasing an additional 252,194 shares during the period. State Street Corp increased its position in Sonus Networks by 4.0% during the 2nd quarter. State Street Corp now owns 915,014 shares of the communications equipment provider’s stock valued at $6,807,000 after purchasing an additional 34,842 shares during the period. Finally, Voya Investment Management LLC increased its position in Sonus Networks by 18.9% during the 2nd quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock valued at $189,000 after purchasing an additional 4,033 shares during the period. 68.59% of the stock is owned by institutional investors and hedge funds.

About Sonus Networks

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.

Earnings History and Estimates for Sonus Networks (NASDAQ:SONS)

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