Juniper Networks’ (NYSE:JNPR) Buy Rating Reiterated at Drexel Hamilton
Juniper Networks, Inc. (NYSE:JNPR)‘s stock had its “buy” rating reaffirmed by Drexel Hamilton in a note issued to investors on Thursday. They currently have a $37.00 price objective on the network equipment provider’s stock. Drexel Hamilton’s target price points to a potential upside of 25.98% from the company’s previous close.
The analysts wrote, “We believe Juniper will meet our 2Q:2017 revenue estimate of $1.294 billion (Street is at $1.284 billion) and slightly beat our EPS projection of $0.55 (Street is at $0.54). Our 2Q:2017 sales forecast represents a 6% QoQ increase and weaker than the five-year average rise of 9%.””
Other equities research analysts also recently issued reports about the company. Pacific Crest assumed coverage on Juniper Networks in a research note on Monday, June 5th. They set a “sector weight” rating and a $31.00 price target for the company. Robert W. Baird reaffirmed a “neutral” rating and set a $30.00 price objective (up from $27.00) on shares of Juniper Networks in a research report on Saturday, April 29th. Cowen and Company lifted their price objective on Juniper Networks from $30.00 to $32.00 and gave the company a “market perform” rating in a research report on Wednesday, April 26th. Barclays PLC reaffirmed an “equal weight” rating on shares of Juniper Networks in a research report on Saturday, April 22nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and set a $27.00 price objective on shares of Juniper Networks in a research report on Tuesday, April 18th. Four analysts have rated the stock with a sell rating, thirteen have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.01.
Shares of Juniper Networks (NYSE:JNPR) opened at 29.37 on Thursday. The stock has a market capitalization of $11.22 billion, a P/E ratio of 18.58 and a beta of 1.08. The firm’s 50-day moving average is $28.85 and its 200 day moving average is $28.51. Juniper Networks has a 12-month low of $22.12 and a 12-month high of $30.96.
Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, April 25th. The network equipment provider reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.03. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.20 billion. Juniper Networks had a return on equity of 13.59% and a net margin of 12.10%. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, equities research analysts forecast that Juniper Networks will post $2.23 EPS for the current fiscal year.
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In other news, CEO Rami Rahim sold 10,700 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $30.64, for a total transaction of $327,848.00. Following the transaction, the chief executive officer now owns 469,607 shares of the company’s stock, valued at approximately $14,388,758.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Vincent Molinaro sold 13,792 shares of the stock in a transaction on Tuesday, April 25th. The stock was sold at an average price of $28.36, for a total value of $391,141.12. Following the transaction, the executive vice president now directly owns 4,597 shares in the company, valued at approximately $130,370.92. The disclosure for this sale can be found here. Insiders sold a total of 188,892 shares of company stock worth $5,728,423 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of JNPR. BlackRock Inc. increased its position in Juniper Networks by 2,310.0% in the first quarter. BlackRock Inc. now owns 25,175,402 shares of the network equipment provider’s stock worth $700,629,000 after buying an additional 24,130,800 shares during the last quarter. Morgan Stanley boosted its stake in shares of Juniper Networks by 119.2% in the first quarter. Morgan Stanley now owns 2,550,103 shares of the network equipment provider’s stock worth $70,970,000 after buying an additional 1,386,626 shares during the period. Vanguard Group Inc. boosted its stake in shares of Juniper Networks by 3.6% in the first quarter. Vanguard Group Inc. now owns 36,120,137 shares of the network equipment provider’s stock worth $1,005,224,000 after buying an additional 1,246,424 shares during the period. LSV Asset Management boosted its stake in shares of Juniper Networks by 42.4% in the first quarter. LSV Asset Management now owns 4,118,318 shares of the network equipment provider’s stock worth $114,612,000 after buying an additional 1,227,063 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Juniper Networks by 35.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,445,011 shares of the network equipment provider’s stock worth $123,698,000 after buying an additional 1,151,391 shares during the period. 89.49% of the stock is currently owned by institutional investors and hedge funds.
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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