() updated its second-quarter 2023 earnings guidance Thursday. The company gave a guidance for earnings per share (EPS), which ranged from $0.49 to $0.59, as opposed to the consensus estimate $0.53. The company provided revenue guidance between $1.36 billion and $1.46 billion, which is lower than the consensus estimate of $1.40billion.
Juniper Networks Trading Up 1.9 %
The stock rose $0.57 to $30.15 during Friday's trading at midday. The stock changed hands 4,320,062 times, as compared to the average of 3,673,400 shares. The stock's market capitalization is $9.69 billion. It has a P/E of 19.71, PEG of 2.41, and beta of 0.95. The debt-to equity ratio for the company is 0.36. It has a quick ratio 1.44, and a current rate of 1.76. The company's fifty-day moving average is $32.03 while its 200-day moving average is $31.46. The last time ) released quarterly earnings was on January 31st. The network equipment supplier reported $0.65 in earnings per share for the third quarter, which was in line with analysts' expectations of $0.65. The company had a revenue of $1.45billion for the quarter compared with analysts' expectations of $1.4billion. Juniper Networks' net margin was 9.10%, and its return on equity was 11.82%. Revenue for the quarter increased by 11.5% over the same period last year. In the same quarter last year, the company had $0.41 in earnings per share. Research analysts expect Juniper Networks to post an average of 1.67 earnings per share for the current fiscal year.
Juniper Networks Announces Dividend
A quarterly dividend was also declared by the firm, and will be paid out on Thursday, 22nd June. Dividends will be paid to shareholders who were in the record books on Thursday, June 1. On an annualized base, this represents a dividend of $0.88 and a yield 2.92%. The ex-dividend day is May 31st. The payout ratio of Juniper Networks is 57.52%.
Wall Street analysts weigh in
Recently, a number of equity research analysts have weighed in about the company. KeyCorp raised their Juniper Networks price target from $36.00 up to $40.00 in a report published on Wednesday, January 18. The stock was given an overweight rating. Rosenblatt Securities raised their price target on Juniper Networks shares from $33.00 up to $34.00 in a research note on Wednesday, January 18th. The company was given a neutral rating. Barclays increased their target price for shares of Juniper Networks to $40.00 in a research note on Wednesday, 2nd February. Goldman Sachs Group began covering Juniper Networks shares in a research report on Monday, 6th March. The stock was given a buy recommendation. Citigroup raised their price target for Juniper Networks shares from $30 to $35 and gave it a neutral rating on Wednesday, 1st February. Three analysts have given the stock a sell recommendation, five have given it a hold recommendation, eight have given the stock a buy recommendation and one has issued a strong purchase rating. MarketBeat.com data shows that the stock currently has a consensus of Hold with a consensus price target of $34.87.
Insider transactions at Juniper Networks
On Wednesday, 1st February, 900 shares were sold in the company's stock. The stock was bought at an average of $30.64 for a value of $27 576.00. After the sale, the director owns directly 27,536 shares worth $843,703,04 of the company stock. In a deal dated February 1, 900 shares were sold. The shares were purchased at a price of $30.64 on average, for a transaction total of $27.576.0. After the sale was completed, the director owns directly 27,536 shares of the company valued at $843,703,04. The stock was sold in an 8th March transaction for 6,250 shares. The shares were sold for $195,500.00 at a price of $31.28 per share. The chief executive now owns approximately 29.312,143.92 dollars worth of shares, after the sale. Insiders sold 61 878 shares valued at $1920 541 in the past 90 days. Corporate insiders own 1.30%.
Inflows of Institutional Capital and Outflows
A number of institutional investors and hedge funds have recently changed their positions in the company. Lazard Asset Management LLC increased its Juniper Networks position by 717.8% in the fourth quarter. Lazard Asset Management LLC owns 3,034 of the network equipment providers stock, valued at $96,000. This is after buying an additional 2,663 during the period. Steward Partners Investment Advisory LLC increased its holdings in Juniper Networks shares by 90.0% during the fourth quarter. Steward Partners Investment Advisory LLC owns now 5,868 of the network equipment supplier's stock valued at $188,000, after purchasing an additional 2,780 during the last quarter. Syntax Advisors LLC acquired a new position of Juniper Networks shares in the fourth quarter valued at $202,000. Cetera Advisor Networks LLC acquired a new position in Juniper Networks for $208,000 during the fourth quarter. Captrust Financial Advisors increased its Juniper Networks holdings by 17.3% during the second quarter. Captrust Financial Advisors owns 7,386 of the network equipment supplier's stock, valued at $211,000, after adding 1,088 additional shares. Institutional investors own 89.22%.
Juniper Networks, Inc is a company that designs, develops, and sells products and services to help customers build high-performance networks. This allows them to achieve agility and increased operating efficiency by automating their networks. The company also provides routing, Wi-Fi and network security. It is also a leader in artificial intelligence-powered enterprise networking operations.
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