Sonus Networks, Inc. (SONS) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Sonus Networks, Inc. (NASDAQ:SONS) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

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) “

A number of other equities analysts have also recently commented on the stock. Northland Securities set a $10.00 price objective on shares of Sonus Networks and gave the stock a buy rating in a research report on Tuesday, July 4th. B. Riley reaffirmed a neutral rating and set a $7.75 price objective on shares of Sonus Networks in a research report on Sunday, July 2nd. BidaskClub cut shares of Sonus Networks from a hold rating to a sell rating in a research report on Tuesday, July 25th. DA Davidson raised shares of Sonus Networks from a neutral rating to a buy rating and set a $8.50 price objective for the company in a research report on Monday, August 7th. Finally, Cowen and Company reaffirmed a sell rating and set a $5.00 price objective on shares of Sonus Networks in a research report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Sonus Networks currently has an average rating of Hold and an average price target of $8.57.

Sonus Networks (SONS) traded down 0.37% during trading on Tuesday, reaching $7.98. 16,598 shares of the company traded hands. The company’s 50-day moving average is $7.28 and its 200 day moving average is $7.27. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $8.64. The company’s market cap is $396.49 million.

Sonus Networks (NASDAQ:SONS) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. The firm had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same period in the previous year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts anticipate that Sonus Networks will post $0.25 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Sonus Networks, Inc. (SONS) Lowered to “Hold” at Zacks Investment Research” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/11/sonus-networks-inc-sons-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Sonus Networks by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 39,957 shares of the communications equipment provider’s stock worth $298,000 after buying an additional 1,692 shares in the last quarter. Engine Capital Management LLC lifted its holdings in shares of Sonus Networks by 2,521.9% during the second quarter. Engine Capital Management LLC now owns 262,194 shares of the communications equipment provider’s stock worth $1,951,000 after buying an additional 252,194 shares in the last quarter. State Street Corp lifted its holdings in shares of Sonus Networks by 4.0% during the second quarter. State Street Corp now owns 915,014 shares of the communications equipment provider’s stock worth $6,807,000 after buying an additional 34,842 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Sonus Networks by 18.9% during the second quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock worth $189,000 after buying an additional 4,033 shares in the last quarter. Finally, 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 worth $23,439,000 after buying an additional 444,006 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

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 c

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) “

A number of other equities analysts have also recently commented on the stock. Northland Securities set a $10.00 price objective on shares of Sonus Networks and gave the stock a buy rating in a research report on Tuesday, July 4th. B. Riley reaffirmed a neutral rating and set a $7.75 price objective on shares of Sonus Networks in a research report on Sunday, July 2nd. BidaskClub cut shares of Sonus Networks from a hold rating to a sell rating in a research report on Tuesday, July 25th. DA Davidson raised shares of Sonus Networks from a neutral rating to a buy rating and set a $8.50 price objective for the company in a research report on Monday, August 7th. Finally, Cowen and Company reaffirmed a sell rating and set a $5.00 price objective on shares of Sonus Networks in a research report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. Sonus Networks currently has an average rating of Hold and an average price target of $8.57.

Sonus Networks (SONS) traded down 0.37% during trading on Tuesday, reaching $7.98. 16,598 shares of the company traded hands. The company’s 50-day moving average is $7.28 and its 200 day moving average is $7.27. Sonus Networks has a 12 month low of $5.51 and a 12 month high of $8.64. The company’s market cap is $396.49 million.

Sonus Networks (NASDAQ:SONS) last released its quarterly earnings data on Thursday, August 3rd. The communications equipment provider reported ($0.02) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.07. Sonus Networks had a negative net margin of 12.15% and a negative return on equity of 6.18%. The firm had revenue of $55.70 million during the quarter, compared to analysts’ expectations of $53.93 million. During the same period in the previous year, the business posted $0.08 earnings per share. The company’s revenue for the quarter was down 8.5% compared to the same quarter last year. On average, analysts anticipate that Sonus Networks will post $0.25 earnings per share for the current year.

TRADEMARK VIOLATION WARNING: “Sonus Networks, Inc. (SONS) Lowered to “Hold” at Zacks Investment Research” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece can be viewed at https://ledgergazette.com/2017/10/11/sonus-networks-inc-sons-lowered-to-hold-at-zacks-investment-research.html.

Several institutional investors and hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Sonus Networks by 4.4% during the second quarter. The Manufacturers Life Insurance Company now owns 39,957 shares of the communications equipment provider’s stock worth $298,000 after buying an additional 1,692 shares in the last quarter. Engine Capital Management LLC lifted its holdings in shares of Sonus Networks by 2,521.9% during the second quarter. Engine Capital Management LLC now owns 262,194 shares of the communications equipment provider’s stock worth $1,951,000 after buying an additional 252,194 shares in the last quarter. State Street Corp lifted its holdings in shares of Sonus Networks by 4.0% during the second quarter. State Street Corp now owns 915,014 shares of the communications equipment provider’s stock worth $6,807,000 after buying an additional 34,842 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Sonus Networks by 18.9% during the second quarter. Voya Investment Management LLC now owns 25,370 shares of the communications equipment provider’s stock worth $189,000 after buying an additional 4,033 shares in the last quarter. Finally, 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 worth $23,439,000 after buying an additional 444,006 shares in the last quarter. 68.64% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Sonus Networks (NASDAQ:SONS)

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