Zacks: Brokerages Expect Sonus Networks, Inc. (SONS) Will Announce Quarterly Sales of $145.49 Million
Wall Street analysts expect Sonus Networks, Inc. (NASDAQ:SONS) to report $145.49 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Sonus Networks’ earnings, with the lowest sales estimate coming in at $140.97 million and the highest estimate coming in at $150.00 million. Sonus Networks posted sales of $67.57 million in the same quarter last year, which would indicate a positive year over year growth rate of 115.3%. The business is scheduled to report its next quarterly earnings report on Wednesday, February 21st.
According to Zacks, analysts expect that Sonus Networks will report full year sales of $145.49 million for the current fiscal year, with estimates ranging from $252.10 million to $333.70 million. For the next financial year, analysts anticipate that the business will report sales of $502.59 million per share, with estimates ranging from $255.00 million to $635.77 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Sonus Networks.
Sonus Networks (NASDAQ:SONS) last issued its quarterly earnings data on Monday, October 30th. The communications equipment provider reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. Sonus Networks had a negative net margin of 8.82% and a negative return on equity of 1.87%. The firm had revenue of $74.60 million for the quarter, compared to the consensus estimate of $68.50 million. During the same quarter in the previous year, the firm earned $0.12 EPS. The company’s quarterly revenue was up 14.8% compared to the same quarter last year.
A number of equities analysts have issued reports on SONS shares. BidaskClub lowered Sonus Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, July 25th. Cowen and Company reaffirmed a “sell” rating and issued a $5.00 target price on shares of Sonus Networks in a research report on Friday, August 4th. DA Davidson raised Sonus Networks from a “neutral” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Monday, August 7th. Zacks Investment Research upgraded Sonus Networks from a “hold” rating to a “buy” rating and set a $7.75 price target for the company in a report on Wednesday, August 9th. Finally, William Blair reiterated a “buy” rating on shares of Sonus Networks in a report on Friday, October 13th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $8.64.
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Several hedge funds and other institutional investors have recently made changes to their positions in SONS. JPMorgan Chase & Co. lifted its holdings in shares of Sonus Networks by 60.8% during the second quarter. JPMorgan Chase & Co. now owns 1,637,933 shares of the communications equipment provider’s stock valued at $12,186,000 after purchasing an additional 619,360 shares during the last quarter. Boston Partners purchased a new stake in shares of Sonus Networks during the second quarter valued at $4,581,000. First Trust Advisors LP lifted its holdings in shares of Sonus Networks by 16.4% during the second quarter. First Trust Advisors LP now owns 4,113,269 shares of the communications equipment provider’s stock valued at $30,603,000 after purchasing an additional 580,597 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Sonus Networks by 16.4% during the second quarter. Dimensional Fund Advisors LP now owns 3,150,356 shares of the communications equipment provider’s stock valued at $23,439,000 after purchasing an additional 444,006 shares during the last quarter. Finally, Neuberger Berman Group LLC lifted its holdings in shares of Sonus Networks by 19.4% during the second quarter. Neuberger Berman Group LLC now owns 2,404,604 shares of the communications equipment provider’s stock valued at $17,890,000 after purchasing an additional 390,614 shares during the last quarter. 68.27% of the stock is owned by institutional investors and hedge funds.
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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