Juniper Networks, Inc. (JNPR) Sees Significant Increase in Short Interest
Juniper Networks, Inc. (NYSE:JNPR) saw a significant increase in short interest in the month of October. As of October 13th, there was short interest totalling 24,614,943 shares, an increase of 22.1% from the September 29th total of 20,158,436 shares. Based on an average daily trading volume, of 6,965,565 shares, the days-to-cover ratio is currently 3.5 days. Approximately 6.6% of the shares of the company are short sold.
In related news, CEO Rami Rahim sold 5,400 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $27.34, for a total transaction of $147,636.00. Following the sale, the chief executive officer now owns 469,607 shares in the company, valued at $12,839,055.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Terrance F. Spidell sold 3,313 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $27.69, for a total transaction of $91,736.97. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,013 shares of company stock worth $823,844. 2.60% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the company. Creative Planning lifted its holdings in shares of Juniper Networks by 0.4% during the 2nd quarter. Creative Planning now owns 4,696 shares of the network equipment provider’s stock worth $131,000 after acquiring an additional 21 shares during the period. Acrospire Investment Management LLC lifted its holdings in shares of Juniper Networks by 4.3% during the 2nd quarter. Acrospire Investment Management LLC now owns 4,890 shares of the network equipment provider’s stock worth $136,000 after acquiring an additional 201 shares during the period. Petrus Trust Company LTA purchased a new position in shares of Juniper Networks during the 2nd quarter worth about $204,000. Menta Capital LLC purchased a new position in shares of Juniper Networks during the 1st quarter worth about $205,000. Finally, River Wealth Advisors LLC purchased a new position in shares of Juniper Networks during the 2nd quarter worth about $206,000. Institutional investors and hedge funds own 90.19% of the company’s stock.
Several analysts recently commented on the stock. Barclays PLC dropped their price target on shares of Juniper Networks from $32.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Wednesday. BMO Capital Markets dropped their price target on shares of Juniper Networks from $31.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday. Robert W. Baird restated a “hold” rating and set a $26.00 price target (down previously from $28.00) on shares of Juniper Networks in a research report on Wednesday. UBS AG dropped their target price on shares of Juniper Networks from $28.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Nomura dropped their target price on shares of Juniper Networks from $27.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $29.54.
Shares of Juniper Networks (NYSE:JNPR) opened at 25.20 on Friday. Juniper Networks has a 1-year low of $23.87 and a 1-year high of $30.96. The stock has a 50 day moving average of $27.06 and a 200-day moving average of $28.29. The stock has a market capitalization of $9.58 billion, a P/E ratio of 15.08 and a beta of 1.09.
Juniper Networks (NYSE:JNPR) last announced its quarterly earnings data on Tuesday, October 24th. The network equipment provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.58 by ($0.03). The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.26 billion. Juniper Networks had a return on equity of 13.80% and a net margin of 12.77%. The company’s revenue was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.58 earnings per share. Equities research analysts predict that Juniper Networks will post $2.10 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 22nd. Stockholders of record on Friday, December 1st will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, November 30th. This represents a $0.40 annualized dividend and a dividend yield of 1.59%. Juniper Networks’s payout ratio is currently 23.26%.
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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, the Middle East and Africa, and Asia Pacific.
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