Juniper Networks Inc. (JNPR) Lifted to Hold at Zacks Investment Research
According to Zacks, “Juniper is a leading provider of networking solutions and communication devices. Although the company reported better-than-expected results for the second quarter of 2016, we have turned increasingly cautious about the stock’s near-term performance following its statement related to full-year operating margins. The company had revealed during its second-quarter conference call that while it will continue to control operating expenses, 2016 margins are expected to contract slightly. Furthermore, an uncertain global macro environment and the anticipation of potentially weak investment patterns among customers are major headwinds. Moreover, stiff competition and ongoing consolidation in the telecom market remain concerns.”
Several other analysts have also recently weighed in on the stock. Drexel Hamilton reissued a buy rating and issued a $36.00 price target on shares of Juniper Networks in a research note on Wednesday, August 3rd. Robert W. Baird restated a neutral rating and issued a $26.00 price objective on shares of Juniper Networks in a report on Thursday, July 28th. Barclays PLC restated a hold rating on shares of Juniper Networks in a report on Thursday, July 28th. Oppenheimer Holdings Inc. restated a hold rating on shares of Juniper Networks in a report on Wednesday, July 27th. Finally, Citigroup Inc. upped their price objective on shares of Juniper Networks from $24.00 to $27.00 and gave the stock a neutral rating in a report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. Juniper Networks presently has a consensus rating of Hold and an average price target of $27.33.
Juniper Networks (NYSE:JNPR) opened at 24.06 on Tuesday. The stock has a market capitalization of $9.21 billion, a price-to-earnings ratio of 14.95 and a beta of 1.76. The firm has a 50-day moving average of $23.33 and a 200 day moving average of $23.43. Juniper Networks has a 12-month low of $21.18 and a 12-month high of $32.39.
Juniper Networks (NYSE:JNPR) last posted its quarterly earnings results on Tuesday, July 26th. The network equipment provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.03. Juniper Networks had a net margin of 12.83% and a return on equity of 13.84%. The business earned $1.22 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same quarter in the prior year, the company posted $0.53 EPS. The business’s revenue for the quarter was down .1% on a year-over-year basis. On average, analysts predict that Juniper Networks will post $1.98 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, September 1st were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date was Tuesday, August 30th. Juniper Networks’s payout ratio is currently 24.84%.
In other news, Director Kevin A. Denuccio sold 10,000 shares of Juniper Networks stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $23.43, for a total transaction of $234,300.00. Following the completion of the sale, the director now directly owns 11,074 shares in the company, valued at $259,463.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Scott Kriens sold 750,000 shares of Juniper Networks stock in a transaction dated Tuesday, August 23rd. The stock was sold at an average price of $23.46, for a total transaction of $17,595,000.00. Following the sale, the director now owns 130,122 shares of the company’s stock, valued at $3,052,662.12. The disclosure for this sale can be found here. Company insiders own 3.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Capital World Investors increased its stake in shares of Juniper Networks by 69.8% in the second quarter. Capital World Investors now owns 19,514,045 shares of the network equipment provider’s stock worth $438,871,000 after buying an additional 8,024,069 shares during the period. Bank of Montreal Can purchased a new stake in shares of Juniper Networks during the second quarter worth approximately $71,147,000. Capital Research Global Investors increased its stake in shares of Juniper Networks by 8.4% in the second quarter. Capital Research Global Investors now owns 35,782,914 shares of the network equipment provider’s stock worth $804,758,000 after buying an additional 2,779,852 shares during the period. State Street Corp increased its stake in shares of Juniper Networks by 4.7% in the second quarter. State Street Corp now owns 15,796,017 shares of the network equipment provider’s stock worth $355,247,000 after buying an additional 712,344 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Juniper Networks by 2.2% in the second quarter. Vanguard Group Inc. now owns 32,518,037 shares of the network equipment provider’s stock worth $731,330,000 after buying an additional 695,938 shares during the period. Institutional investors and hedge funds own 85.22% of the company’s stock.
About Juniper Networks
Juniper Networks, Inc designs, develops and sells products and services for high-performance networks to enable customers to build networks for their businesses. The Company sells its products in over 100 countries in three geographic regions: Americas; Europe, Middle East, and Africa (EMEA), and Asia Pacific (APAC).
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