Juniper Networks Rating Lowered to Underperform at Zacks (JNPR)
Juniper Networks (NYSE:JNPR) was downgraded by Zacks from an “outperform” rating to an “underperform” rating in a research note issued to investors on Friday. They currently have a $22.00 target price on the stock. Zacks‘s price target indicates a potential downside of 8.30% from the stock’s previous close.
Zacks’ analyst wrote, “We downgrade our recommendation on Juniper to an Underperform as it provided tepid third-quarter revenue guidance despite posting year-over-year gains in the second quarter. Delays in large projects from service providers such as AT&T and Verizon are expected to impact revenues in the second half of 2014. Moreover, increasing competition, uncertain economic conditions and constricted federal spending remain the headwinds. Also, the charges related to Juniper’s restructuring initiatives are expected to impact near-term profitability. However, company’s product launches, cost reduction initiatives and improving execution are the positives. Juniper’s expansion into the software defined network segment is expected to strengthen its position in the networking space.”
Several other analysts have also recently commented on the stock. Analysts at Bernstein upgraded shares of Juniper Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $30.00 price target on the stock. Separately, analysts at Sanford C. Bernstein upgraded shares of Juniper Networks from a “market perform” rating to an “outperform” rating in a research note on Monday, July 28th. They now have a $30.00 price target on the stock. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Juniper Networks in a research note on Wednesday, July 23rd. They now have a $29.50 price target on the stock, down previously from $32.00. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $27.08.
Shares of Juniper Networks (NYSE:JNPR) traded up 0.50% during mid-day trading on Friday, hitting $24.11. The stock had a trading volume of 2,951,763 shares. Juniper Networks has a 1-year low of $18.36 and a 1-year high of $28.75. The stock’s 50-day moving average is $23.70 and its 200-day moving average is $25.03. The company has a market cap of $10.878 billion and a price-to-earnings ratio of 20.57.
Juniper Networks (NYSE:JNPR) last released its earnings data on Tuesday, July 22nd. The company reported $0.40 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.38 by $0.02. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter last year, the company posted $0.29 earnings per share. Juniper Networks’s revenue was up 6.9% compared to the same quarter last year. On average, analysts predict that Juniper Networks will post $1.51 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, September 23rd. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, August 28th.
In other Juniper Networks news, Director Scott Kriens sold 877,037 shares of the company’s stock on the open market in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $23.80, for a total value of $20,873,480.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Juniper Networks, Inc (NYSE:JNPR) designs, develops, and sells products and services that together provide its customers with network infrastructure.
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