Sonus Networks Inc. (NASDAQ:SONS) posted its quarterly earnings results on Wednesday. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.03. Sonus Networks had a negative net margin of 1.80% and a positive return on equity of 1.75%. The company earned $65 million during the quarter, compared to the consensus estimate of $64.24 million. During the same period last year, the firm earned $0.11 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis.

Shares of Sonus Networks (NASDAQ:SONS) traded down 3.46% on Thursday, hitting $6.14. 329,521 shares of the stock were exchanged. The firm’s 50-day moving average is $7.97 and its 200-day moving average is $8.45. Sonus Networks has a one year low of $5.15 and a one year high of $10.00. The company’s market cap is $303.27 million.

Earnings History for Sonus Networks (NASDAQ:SONS)

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Sonus Networks by 3.7% in the second quarter. Vanguard Group Inc. now owns 3,342,484 shares of the company’s stock valued at $29,047,000 after buying an additional 119,028 shares during the period. Dimensional Fund Advisors LP boosted its position in Sonus Networks by 7.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,039,499 shares of the company’s stock valued at $17,723,000 after buying an additional 138,116 shares during the period. Neuberger Berman Group LLC boosted its position in Sonus Networks by 2.6% in the second quarter. Neuberger Berman Group LLC now owns 1,995,878 shares of the company’s stock valued at $17,344,000 after buying an additional 50,465 shares during the period. Renaissance Technologies LLC boosted its position in Sonus Networks by 122.3% in the first quarter. Renaissance Technologies LLC now owns 1,901,965 shares of the company’s stock valued at $14,322,000 after buying an additional 1,046,476 shares during the period. Finally, State Street Corp boosted its position in Sonus Networks by 10.1% in the second quarter. State Street Corp now owns 1,011,285 shares of the company’s stock valued at $8,786,000 after buying an additional 92,642 shares during the period. Hedge funds and other institutional investors own 68.24% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. B. Riley reiterated a “neutral” rating and set a $7.00 price target on shares of Sonus Networks in a research report on Thursday. Zacks Investment Research downgraded shares of Sonus Networks from a “hold” rating to a “sell” rating in a research report on Friday, October 14th. Cowen and Company downgraded shares of Sonus Networks from a “market perform” rating to an “underperform” rating and reduced their price target for the company from $8.00 to $4.00 in a research report on Thursday, September 29th. William Blair reiterated a “hold” rating on shares of Sonus Networks in a research report on Wednesday, September 28th. Finally, TheStreet upgraded shares of Sonus Networks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. Sonus Networks presently has a consensus rating of “Hold” and a consensus price target of $8.55.

About Sonus Networks

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.

5 Day Chart for NASDAQ:SONS

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