Goldman Sachs cut shares of Juniper Networks (NYSE:JNPR) from a neutral rating to a sell rating in a report issued on Wednesday morning, Marketbeat reports. Goldman Sachs currently has $21.00 price target on the network equipment provider’s stock, down from their previous price target of $26.00.
JNPR has been the topic of a number of other research reports. Loop Capital assumed coverage on shares of Juniper Networks in a research report on Monday, January 29th. They issued a hold rating and a $30.00 price target on the stock. Barclays downgraded shares of Juniper Networks from an equal weight rating to an underweight rating and lowered their price objective for the stock from $28.00 to $25.00 in a research note on Wednesday, January 17th. CIBC upgraded shares of Juniper Networks from a market perform rating to an outperform rating in a research note on Monday, January 22nd. Oppenheimer upgraded shares of Juniper Networks from a market perform rating to an outperform rating and set a $33.00 price objective on the stock in a research note on Monday, January 22nd. Finally, Robert W. Baird restated a hold rating and issued a $26.00 price objective on shares of Juniper Networks in a research note on Tuesday, January 23rd. Four investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $28.41.
NYSE:JNPR opened at $24.35 on Wednesday. Juniper Networks has a 12 month low of $23.61 and a 12 month high of $30.96. The company has a market capitalization of $8,401.41, a PE ratio of 13.97, a PEG ratio of 2.85 and a beta of 0.96. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.41 and a current ratio of 2.41.
Juniper Networks (NYSE:JNPR) last released its quarterly earnings results on Tuesday, January 30th. The network equipment provider reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.52 by $0.01. Juniper Networks had a net margin of 6.26% and a return on equity of 13.34%. The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter last year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was down 10.5% compared to the same quarter last year. analysts predict that Juniper Networks will post 1.34 earnings per share for the current fiscal year.
Juniper Networks announced that its board has authorized a share buyback program on Tuesday, January 30th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Thursday, March 1st were paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.72 dividend on an annualized basis and a yield of 2.96%. This is an increase from Juniper Networks’s previous quarterly dividend of $0.10. Juniper Networks’s payout ratio is currently 41.62%.
In other Juniper Networks news, Director William Stensrud sold 10,000 shares of Juniper Networks stock in a transaction on Monday, February 26th. The shares were sold at an average price of $26.17, for a total transaction of $261,700.00. Following the sale, the director now owns 5,531 shares in the company, valued at $144,746.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Terrance F. Spidell sold 8,409 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $26.47, for a total transaction of $222,586.23. Following the completion of the sale, the vice president now owns 3,944 shares in the company, valued at approximately $104,397.68. The disclosure for this sale can be found here. Insiders have sold 42,813 shares of company stock worth $1,124,709 in the last quarter. Corporate insiders own 2.60% of the company’s stock.
Several large investors have recently modified their holdings of the company. First Trust Advisors LP boosted its stake in shares of Juniper Networks by 24.6% in the 4th quarter. First Trust Advisors LP now owns 8,988,140 shares of the network equipment provider’s stock valued at $256,162,000 after purchasing an additional 1,772,303 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Juniper Networks by 7.7% in the 4th quarter. Bank of New York Mellon Corp now owns 7,304,607 shares of the network equipment provider’s stock valued at $208,182,000 after purchasing an additional 520,449 shares in the last quarter. LSV Asset Management boosted its stake in shares of Juniper Networks by 3.7% in the 4th quarter. LSV Asset Management now owns 6,804,243 shares of the network equipment provider’s stock valued at $193,920,000 after purchasing an additional 242,600 shares in the last quarter. Fairpointe Capital LLC boosted its stake in shares of Juniper Networks by 3.6% in the 4th quarter. Fairpointe Capital LLC now owns 6,264,209 shares of the network equipment provider’s stock valued at $178,530,000 after purchasing an additional 216,254 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Juniper Networks by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 5,214,972 shares of the network equipment provider’s stock valued at $148,391,000 after purchasing an additional 203,465 shares in the last quarter. Institutional investors own 95.49% of the company’s stock.
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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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