Equities research analysts expect that Sonus Networks, Inc. (NASDAQ:SONS) will post $54.00 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Sonus Networks’ earnings. The lowest sales estimate is $53.90 million and the highest is $54.10 million. Sonus Networks reported sales of $60.86 million in the same quarter last year, which indicates a negative year over year growth rate of 11.3%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Thursday, August 3rd.
According to Zacks, analysts expect that Sonus Networks will report full year sales of $54.00 million for the current financial year, with estimates ranging from $251.40 million to $256.60 million. For the next fiscal year, analysts expect that the business will report sales of $266.67 million per share, with estimates ranging from $265.00 million to $268.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Sonus Networks.
Several equities research analysts have issued reports on SONS shares. BidaskClub cut Sonus Networks from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. William Blair reissued a “hold” rating on shares of Sonus Networks in a research note on Monday, May 1st. Benchmark Co. started coverage on Sonus Networks in a research note on Wednesday, April 26th. They set a “buy” rating and a $4.00 target price for the company. ValuEngine cut Sonus Networks from a “hold” rating to a “sell” rating in a research note on Friday, June 2nd. Finally, Northland Securities set a $10.00 target price on Sonus Networks and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Four equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $8.29.
Several large investors have recently modified their holdings of the stock. 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 last quarter. First Trust Advisors LP boosted its stake in shares of Sonus Networks by 20.8% in the first quarter. First Trust Advisors LP now owns 3,532,672 shares of the communications equipment provider’s stock worth $23,280,000 after buying an additional 607,662 shares during the last quarter. Central Securities Corp boosted its stake in shares of Sonus Networks by 60.4% in the first quarter. Central Securities Corp now owns 750,000 shares of the communications equipment provider’s stock worth $4,943,000 after buying an additional 282,388 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Sonus Networks by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,706,350 shares of the communications equipment provider’s stock worth $17,835,000 after buying an additional 251,934 shares during the last quarter. Finally, Russell Investments Group Ltd. purchased a new stake in shares of Sonus Networks during the fourth quarter worth $889,000. 65.39% of the stock is owned by institutional investors and hedge funds.
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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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