Juniper Networks (NASDAQ:JNPR)‘s stock had its “underperform” rating restated by FBR Capital Markets in a research note issued on Monday, American Banking News.com reports.
The analysts wrote, “Juniper is scheduled to report 3Q13 earnings Tuesday, Oct. 22 after the close, and to hold its earnings call at 5 p.m. EDT (877-407-8033). We expect the JNPR story to remain challenged, despite what we believe will be a strong quarter report. There does appear to be a substantial core routing upgrade developing in the service provider (SP) vertical. However, we expect competitive pressure from ALU could continue to rise, particularly in the core. Additionally, we expect current core upgrades will be more muted and less routing intensive than past cycles. Longer term, we believe Juniper could be challenged to transition away from its legacy core routing and switching business and toward a more optical and software-based revenue stream. While our 12-month view on the stock remains cautious, we raise our 3Q13 EPS estimate to $0.34, above the $0.31 consensus estimate. We are lowering our 4Q revenue estimates nearly 3% below consensus, driving our EPS estimate down to $0.34 for 4Q13. We continue to encourage investors to use any strength in shares to reduce exposure to JNPR.”
Other equities research analysts have also recently issued reports about the stock. Analysts at MKM Partners upgraded shares of Juniper Networks from a “neutral” rating to a “buy” rating in a research note to investors on Wednesday, October 16th. They now have a $26.00 price target on the stock, up previously from $24.00. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of Juniper Networks in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $26.00 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Juniper Networks in a research note to investors on Wednesday, September 18th. They set a “neutral” rating and a $20.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $21.26.
Juniper Networks (NASDAQ:JNPR) traded down 0.12% on Monday, hitting $20.795. The stock had a trading volume of 1,706,752 shares. Juniper Networks has a one year low of $15.62 and a one year high of $22.98. The stock’s 50-day moving average is $20.54 and its 200-day moving average is $19.33. The company has a market cap of $10.540 billion and a P/E ratio of 35.90.
Juniper Networks (NASDAQ:JNPR) last released its earnings data on Tuesday, July 23rd. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.04. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. On average, analysts predict that Juniper Networks will post $1.20 earnings per share for the current fiscal year.
Juniper Networks, Inc (NASDAQ:JNPR) designs, develops, and sells products and services that together provide its customers with network infrastructure.
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