Jefferies Group Research Analysts Decrease Earnings Estimates for Juniper Networks, Inc. (JNPR)
Juniper Networks, Inc. (NYSE:JNPR) – Investment analysts at Jefferies Group dropped their Q1 2018 earnings per share estimates for Juniper Networks in a research report issued to clients and investors on Wednesday. Jefferies Group analyst G. Notter now forecasts that the network equipment provider will earn $0.18 per share for the quarter, down from their prior forecast of $0.32. Jefferies Group also issued estimates for Juniper Networks’ Q2 2018 earnings at $0.30 EPS, FY2018 earnings at $1.36 EPS and FY2019 earnings at $1.66 EPS.
JNPR has been the topic of several other reports. BidaskClub cut Juniper Networks from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. UBS Group lowered their target price on Juniper Networks from $28.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 25th. Robert W. Baird restated a “hold” rating and set a $26.00 target price on shares of Juniper Networks in a report on Thursday, November 30th. William Blair restated a “hold” rating on shares of Juniper Networks in a report on Wednesday, October 25th. Finally, Loop Capital initiated coverage on Juniper Networks in a report on Monday, January 29th. They set a “hold” rating and a $30.00 target price on the stock. Five equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.08.
Juniper Networks (NYSE:JNPR) last issued its earnings results on Tuesday, January 30th. The network equipment provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The business had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Juniper Networks had a return on equity of 13.34% and a net margin of 6.26%. The business’s revenue for the quarter was down 10.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.66 EPS.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Shareholders of record on Thursday, March 1st will be given a $0.18 dividend. This is a positive change from Juniper Networks’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, February 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.74%. Juniper Networks’s payout ratio is presently 49.38%.
Juniper Networks declared that its Board of Directors has approved a share repurchase program on Tuesday, January 30th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the network equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other Juniper Networks news, Director Rahul N. Merchant purchased 2,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $24.48 per share, for a total transaction of $48,960.00. Following the completion of the purchase, the director now directly owns 22,543 shares in the company, valued at approximately $551,852.64. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CEO Rami Rahim sold 16,100 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $26.24, for a total transaction of $422,464.00. Following the completion of the transaction, the chief executive officer now owns 469,607 shares of the company’s stock, valued at approximately $12,322,487.68. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of JNPR. Fuller & Thaler Asset Management Inc. acquired a new position in shares of Juniper Networks during the third quarter worth $111,000. Cerebellum GP LLC acquired a new position in shares of Juniper Networks during the fourth quarter worth $128,000. Exane Derivatives grew its stake in shares of Juniper Networks by 278.1% during the fourth quarter. Exane Derivatives now owns 5,633 shares of the network equipment provider’s stock worth $161,000 after purchasing an additional 4,143 shares in the last quarter. Stevens First Principles Investment Advisors grew its stake in shares of Juniper Networks by 40.9% during the third quarter. Stevens First Principles Investment Advisors now owns 7,045 shares of the network equipment provider’s stock worth $196,000 after purchasing an additional 2,045 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of Juniper Networks during the fourth quarter worth $220,000. Institutional investors and hedge funds own 90.65% of the company’s stock.
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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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