Trading Report: The Zacks Investment Research Lowers Sonus Networks Inc. (SONS) to Sell

The Zacks Investment Research Lowers Sonus Networks Inc. (SONS) to Sell

Sonus Networks Inc. (NASDAQ:SONS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Friday.

According to Zacks, “Sonus Networks, Inc. is a leading provider of voice infrastructure products for the new public network. Sonus’ solutions enable service providers to deploy an integrated network capable of carrying both voice and data traffic, and to deliver a range of innovative, new services. The Sonus Open Services Architecture and award-winning Packet Telephony suite cut the time-to-market for competitive new service products, allowing carriers and third-party developers to expand marketshare and build important new revenue streams.(Press Release) “

Several other research analysts also recently issued reports on the company. Cowen and Company downgraded Sonus Networks from a “market perform” rating to an “underperform” rating and cut their price target for the stock from $8.00 to $4.00 in a research note on Thursday, September 29th. William Blair reaffirmed a “hold” rating on shares of Sonus Networks in a research note on Wednesday, September 28th. B. Riley downgraded Sonus Networks to a “neutral” rating and set a $10.25 price target for the company. in a research note on Tuesday, August 2nd. TheStreet raised Sonus Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, July 27th. Finally, DA Davidson assumed coverage on Sonus Networks in a research note on Wednesday, July 20th. They set a “buy” rating and a $12.00 price target for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $9.20.

Sonus Networks (NASDAQ:SONS) opened at 7.36 on Friday. The stock’s market cap is $363.53 million. Sonus Networks has a 52 week low of $5.15 and a 52 week high of $10.00. The firm’s 50-day moving average is $8.29 and its 200 day moving average is $8.44.

Sonus Networks (NASDAQ:SONS) last issued its earnings results on Wednesday, July 27th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.03 by $0.05. The company had revenue of $60.90 million for the quarter, compared to analyst estimates of $59.67 million. Sonus Networks had a negative net margin of 1.80% and a positive return on equity of 1.75%. The business’s revenue was up 11.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.10) EPS. On average, equities research analysts expect that Sonus Networks will post $0.36 EPS for the current year.

Large investors have recently modified their holdings of the company. Teachers Advisors Inc. raised its stake in shares of Sonus Networks by 0.7% in the second quarter. Teachers Advisors Inc. now owns 84,227 shares of the company’s stock valued at $732,000 after buying an additional 603 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Sonus Networks by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 285,280 shares of the company’s stock valued at $2,478,000 after buying an additional 1,807 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in Sonus Networks by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 163,850 shares of the company’s stock valued at $1,424,000 after buying an additional 2,520 shares during the last quarter. Springbok Capital Management LLC boosted its position in Sonus Networks by 42.0% in the first quarter. Springbok Capital Management LLC now owns 23,125 shares of the company’s stock valued at $174,000 after buying an additional 6,841 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Sonus Networks by 161.6% in the second quarter. BlackRock Inc. now owns 11,889 shares of the company’s stock valued at $103,000 after buying an additional 7,344 shares during the last quarter. 68.22% of the stock is currently owned by hedge funds and other institutional investors.

Sonus Networks Company Profile

Sonus Networks, Inc (Sonus) is a provider of networked solutions for communications service providers (telecommunications, wireless and cable service providers) and enterprises. The Company’s products include session border controllers (SBCs), diameter signaling controllers (DSCs), policy/routing servers, network intelligence applications (VellOS), which is designed to network-wide security and other cloud network exchange services, media and signaling gateways and network analytics tools.

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