Networking equipment maker Juniper Networks Inc ( JNPR ) on Thursday reported second-quarter net earnings of $158 million or $0.40 per share compared with $221 million or $0.46 per share a year ago. On the bottom line, adjusted earnings rose 33% to $0.53 per share while the Street would have settled for flat growth at $0.40 per share. This assumes a share count of 390 million and a non-GAAP tax rate flat from the second quarter, and assumes no renewal of the R&D tax credit for 2015. The company now has a consensus rating of Hold and an average target price of $27.07.
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Juniper Networks reported net revenues of United States dollars 1.222 billion for the second quarter, down 1 percent year-over-year and an increase of 15 percent sequentially.
Nomura initiated their coverage on the stock with Neutral rating on June 3, and fixed their price target at $28. During the second quarter, Juniper also completed its Dollars 1 billion share buyback programme, and the board approved another Dollars 500 million in share repurchases. The 1-year stock price history is in the range of $18.41 – $28.26. Based in Sunnyvale, California, Juniper’s products include routers, switches, and network security and management software. Analysts at Cantor Fitzgerald raised their price target on shares of Juniper Networks from $31.00 to $36.00 and gave the company a “buy” rating in a research note on Friday. Analysts were modeling non-GAAP earnings of 56 cents a share on revenue of $1.22 billion. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. On the low end, one analyst sees the stock at $22. Additionally, the company’s recent expansion into the software defined network (SDN) will help establish it as a player in the cloud-based market. Finally, analysts at Zacks downgraded shares of Juniper Networks from a buy rating to a hold rating in a research note on Wednesday, June 24th. This represents a $0.40 annualized dividend and a dividend yield of 1.51%.
In other Juniper Networks news, Director Robert Calderoni sold 16,000 shares of the stock in a transaction dated Tuesday, May 26th. 1 analyst has also rated it as a strong sell. The shares were sold at an average price of $27.63, for a total transaction of $276,300.00.
Juniper Networks, Inc. (Juniper Networks) designs, develops, and sells products and services that together provide its customers with network infrastructure. The Company sells its products in more than 100 countries in three geographic regions: Americas; Europe, Middle East, and Africa (EMEA), and Asia Pacific (APAC).
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Juniper Networks manufactures and sells products for routing, switching and security, and offers services, such as training and technical support. Infrastructure products include its Internet protocol (IP) routing, carrier Ethernet routing portfolio, and Ethernet switching portfolio.
