Sonus Networks, Inc. Expected to Earn Q1 2019 Earnings of $0.07 Per Share (SONS)
Sonus Networks, Inc. (NASDAQ:SONS) – Stock analysts at DA Davidson issued their Q1 2019 earnings per share (EPS) estimates for Sonus Networks in a research report issued to clients and investors on Monday. DA Davidson analyst M. Kelleher expects that the communications equipment provider will post earnings per share of $0.07 for the quarter. DA Davidson currently has a “Buy” rating and a $8.50 target price on the stock. DA Davidson also issued estimates for Sonus Networks’ Q2 2019 earnings at $0.08 EPS, Q3 2019 earnings at $0.19 EPS and FY2019 earnings at $0.56 EPS.
Sonus Networks (NASDAQ:SONS) last announced its quarterly earnings results on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.08. The company had revenue of $74.60 million for the quarter, compared to analysts’ expectations of $68.50 million. Sonus Networks had a negative net margin of 8.82% and a negative return on equity of 1.87%. Sonus Networks’s revenue was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS.
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Other equities research analysts also recently issued research reports about the company. Zacks Investment Research raised Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price objective on the stock in a research report on Wednesday, August 9th. Cowen and Company reissued a “sell” rating and issued a $5.00 price target on shares of Sonus Networks in a report on Friday, August 4th. BidaskClub downgraded Sonus Networks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. TheStreet raised Sonus Networks from a “d+” rating to a “c” rating in a report on Monday, October 23rd. Finally, William Blair reissued a “buy” rating on shares of Sonus Networks in a report on Monday. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Sonus Networks has an average rating of “Hold” and an average price target of $8.64.
Institutional investors have recently bought and sold shares of the company. Capital Investment Advisors LLC purchased a new stake in shares of Sonus Networks in the second quarter valued at approximately $106,000. Prudential Financial Inc. purchased a new stake in shares of Sonus Networks in the third quarter valued at approximately $131,000. Federated Investors Inc. PA increased its position in shares of Sonus Networks by 26.1% in the second quarter. Federated Investors Inc. PA now owns 19,960 shares of the communications equipment provider’s stock valued at $149,000 after buying an additional 4,133 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Sonus Networks by 18.9% in the second quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock valued at $189,000 after buying an additional 4,033 shares in the last quarter. Finally, American International Group Inc. increased its position 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 valued at $194,000 after buying an additional 1,930 shares in the last quarter. Institutional investors and hedge funds own 68.27% of the company’s stock.
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.
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