JDS Uniphase (NASDAQ: JDSU) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report issued on Wednesday. They currently have a $16.00 target price on the stock.
Zacks‘ analyst wrote, “We downgrade our recommendation on JDS Uniphase to Neutral based on its high level of current valuation, which moved up nearly 80.5% in the last year. At this stage, the stock is unlikely to provide above market gain. Meanwhile, JDS Uniphase’s newly launched products, which are gaining solid market traction coupled with the recent acquisition of Arieso become long-term positives for the company. In the second quarter of fiscal 2013, the newly launched differentiated products accounted for 54% of its total revenue in the core network market. Management provided an optimistic outlook for the rest of fiscal 2013. We believe carrier expenditures for high-speed broadband network buildout, mobility and 100 Gbps Ethernet network will increase in 2013, aiding JDS Uniphase’s prospects over the long haul. Going forward, the company is expected to improve its gross and operating margins, adjusted EBITDA and cash flow. “
JDS Uniphase traded down 1.51% on Wednesday, hitting $15.05. JDS Uniphase has a 52-week low of $8.47 and a 52-week high of $15.63. The stock’s 50-day moving average is currently $14.52. The company’s market cap is $3.539 billion.
JDS Uniphase last released its earnings data on Wednesday, January 30th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $429.40 million for the quarter, compared to the consensus estimate of $424.19 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that JDS Uniphase will post $0.63 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on JDSU. Analysts at RBC Capital reiterated an “outperform” rating on shares of JDS Uniphase in a research note to investors on Tuesday. They now have a $18.00 price target on the stock. Separately, analysts at Needham & Company raised their price target on shares of JDS Uniphase from $18.00 to $20.00 in a research note to investors on Tuesday, February 19th. They now have a “buy” rating on the stock. Finally, analysts at MKM Partners raised their price target on shares of JDS Uniphase from $17.00 to $18.00 in a research note to investors on Friday, February 15th. They now have a “buy” rating on the stock.
JDS Uniphase Corporation (JDSU) is a provider of communications test and measurement solutions and optical products for telecommunications service providers, wireless operators, cable operators, and network equipment manufacturers.
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