Juniper Networks, Inc. (JNPR) Price Target Lowered to $30.00 at Bank of America Corporation
Juniper Networks, Inc. (NYSE:JNPR) had its target price cut by Bank of America Corporation from $31.00 to $30.00 in a research note released on Wednesday morning. They currently have a neutral rating on the network equipment provider’s stock.
Several other analysts have also recently weighed in on JNPR. TheStreet cut shares of Juniper Networks from a b rating to a c+ rating in a report on Thursday, June 29th. Instinet reiterated a buy rating and issued a $33.00 price target on shares of Juniper Networks in a report on Tuesday, July 4th. BMO Capital Markets upgraded shares of Juniper Networks from a market perform rating to an outperform rating and lifted their price target for the company from $31.00 to $34.00 in a report on Monday, July 10th. Drexel Hamilton reiterated a buy rating and issued a $37.00 price target on shares of Juniper Networks in a report on Thursday, July 20th. Finally, Raymond James Financial, Inc. upgraded shares of Juniper Networks from a market perform rating to an outperform rating and set a $34.00 price target on the stock in a report on Friday, July 21st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $30.35.
Shares of Juniper Networks (JNPR) traded up 0.81% on Wednesday, hitting $26.03. 3,499,046 shares of the stock were exchanged. The company has a market cap of $9.90 billion, a price-to-earnings ratio of 15.59 and a beta of 1.09. Juniper Networks has a 52-week low of $22.46 and a 52-week high of $30.96. The company has a 50 day moving average of $27.34 and a 200 day moving average of $28.38.
Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, July 25th. The network equipment provider reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.03. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.29 billion. Juniper Networks had a net margin of 12.66% and a return on equity of 14.13%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.50 earnings per share. Equities research analysts forecast that Juniper Networks will post $2.17 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 1st were paid a dividend of $0.10 per share. The ex-dividend date was Wednesday, August 30th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.54%. Juniper Networks’s dividend payout ratio is currently 23.39%.
In related news, VP Terrance F. Spidell sold 3,313 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $27.69, for a total transaction of $91,736.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vincent Molinaro sold 5,031 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $30.00, for a total value of $150,930.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,044 shares of company stock valued at $974,774. Corporate insiders own 2.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Juniper Networks by 6.4% during the 2nd quarter. Vanguard Group Inc. now owns 38,434,820 shares of the network equipment provider’s stock valued at $1,071,564,000 after acquiring an additional 2,314,683 shares during the period. Dodge & Cox grew its stake in shares of Juniper Networks by 0.4% during the 2nd quarter. Dodge & Cox now owns 17,690,957 shares of the network equipment provider’s stock valued at $493,224,000 after acquiring an additional 74,877 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Juniper Networks by 12.2% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 12,764,160 shares of the network equipment provider’s stock valued at $355,227,000 after acquiring an additional 1,386,036 shares during the period. First Trust Advisors LP grew its stake in shares of Juniper Networks by 22.4% during the 2nd quarter. First Trust Advisors LP now owns 7,124,028 shares of the network equipment provider’s stock valued at $198,618,000 after acquiring an additional 1,302,277 shares during the period. Finally, Renaissance Technologies LLC grew its stake in shares of Juniper Networks by 197.7% during the 2nd quarter. Renaissance Technologies LLC now owns 5,427,091 shares of the network equipment provider’s stock valued at $151,307,000 after acquiring an additional 3,604,200 shares during the period. Institutional investors own 90.14% of the company’s stock.
Juniper Networks Company Profile
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, the Middle East and Africa, and Asia Pacific.
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