$145.49 Million in Sales Expected for Sonus Networks, Inc. (SONS) This Quarter
Analysts forecast that Sonus Networks, Inc. (NASDAQ:SONS) will report sales of $145.49 million for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Sonus Networks’ earnings. The highest sales estimate is $150.00 million and the lowest is $140.97 million. Sonus Networks reported sales of $67.57 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 115.3%. The business is scheduled to report its next earnings report on Wednesday, February 21st.
On average, analysts expect that Sonus Networks will report full-year sales of $145.49 million for the current year, with estimates ranging from $324.70 million to $333.70 million. For the next financial year, analysts anticipate that the firm will report sales of $625.99 million per share, with estimates ranging from $617.00 million to $635.77 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Sonus Networks.
Sonus Networks (NASDAQ:SONS) last released its quarterly earnings data on Monday, October 30th. The communications equipment provider reported $0.26 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.08. Sonus Networks had a negative return on equity of 1.87% and a negative net margin of 8.82%. The firm had revenue of $74.60 million for the quarter, compared to analysts’ expectations of $68.50 million. During the same period in the prior year, the firm posted $0.12 earnings per share. The firm’s quarterly revenue was up 14.8% on a year-over-year basis.
A number of research analysts recently commented on the company. William Blair reiterated a “buy” rating on shares of Sonus Networks in a report on Monday, October 30th. TheStreet upgraded Sonus Networks from a “d+” rating to a “c” rating in a report on Monday, October 23rd. Zacks Investment Research cut Sonus Networks from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Cowen and Company reiterated a “sell” rating on shares of Sonus Networks in a report on Tuesday, October 17th. Finally, BidaskClub cut Sonus Networks from a “sell” rating to a “strong sell” rating in a report on Thursday, August 3rd. Three analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $8.64.
A number of hedge funds and other institutional investors have recently made changes to their positions in SONS. JPMorgan Chase & Co. raised its position in Sonus Networks by 60.8% in 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 period. Boston Partners purchased a new stake in Sonus Networks in the second quarter valued at approximately $4,581,000. First Trust Advisors LP raised its position in Sonus Networks by 16.4% in 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 period. Dimensional Fund Advisors LP raised its position in Sonus Networks by 16.4% in 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 period. Finally, Neuberger Berman Group LLC raised its position in Sonus Networks by 19.4% in 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 period. 69.39% of the stock is currently owned by institutional investors.
Sonus Networks (NASDAQ:SONS) traded up $0.18 on Thursday, reaching $7.68. The company had a trading volume of 233,700 shares, compared to its average volume of 380,537. Sonus Networks has a 12-month low of $5.72 and a 12-month high of $9.05.
About Sonus Networks
Sonus Networks, Inc, formerly Solstice Sapphire Investments, Inc, 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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