Juniper Networks Inc. (JNPR) Upgraded to Conviction-Buy at Goldman Sachs Group Inc.
Goldman Sachs Group Inc. upgraded shares of Juniper Networks Inc. (NYSE:JNPR) from a buy rating to a conviction-buy rating in a research report released on Wednesday morning. They currently have $31.00 target price on the network equipment provider’s stock.
A number of other equities analysts also recently issued reports on the company. Morgan Stanley downgraded Juniper Networks from an equal weight rating to an underweight rating and lowered their price objective for the stock from $24.00 to $20.00 in a research report on Tuesday, November 1st. Zacks Investment Research upgraded Juniper Networks from a hold rating to a buy rating and set a $29.00 price objective for the company in a research report on Monday, October 31st. FBN Securities restated a sector perform rating and set a $28.00 price objective (up from $25.00) on shares of Juniper Networks in a research report on Saturday, October 29th. BMO Capital Markets restated a market perform rating and set a $26.00 price objective (up from $24.00) on shares of Juniper Networks in a research report on Thursday, October 27th. Finally, JPMorgan Chase & Co. restated an overweight rating on shares of Juniper Networks in a research report on Wednesday, October 26th. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company’s stock. Juniper Networks currently has a consensus rating of Hold and an average price target of $27.44.
Shares of Juniper Networks (NYSE:JNPR) traded down 0.57% during mid-day trading on Wednesday, reaching $26.09. The company’s stock had a trading volume of 2,091,879 shares. Juniper Networks has a 12 month low of $21.17 and a 12 month high of $30.80. The company has a 50-day moving average of $24.57 and a 200-day moving average of $23.42. The firm has a market cap of $9922.63 billion, a PE ratio of 16.94 and a beta of 1.24.
Juniper Networks (NYSE:JNPR) last posted its earnings results on Tuesday, October 25th. The network equipment provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.52 by $0.06. The firm earned $1.29 billion during the quarter, compared to the consensus estimate of $626.94 million. Juniper Networks had a return on equity of 13.47% and a net margin of 12.22%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. On average, analysts predict that Juniper Networks will post $2.07 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be given a $0.10 dividend. The ex-dividend date of this dividend is Tuesday, November 29th. This represents a $0.40 annualized dividend and a yield of 1.52%. Juniper Networks’s dividend payout ratio is currently 25.81%.
In other Juniper Networks news, EVP Jonathan Davidson sold 54,870 shares of the business’s stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $23.34, for a total transaction of $1,280,665.80. Following the completion of the transaction, the executive vice president now owns 60,050 shares in the company, valued at $1,401,567. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Pradeep Sindhu sold 76,900 shares of the business’s stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $25.29, for a total value of $1,944,801.00. Following the transaction, the executive vice president now owns 20,798 shares of the company’s stock, valued at approximately $525,981.42. The disclosure for this sale can be found here. 3.40% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. raised its position in shares of Juniper Networks by 61.1% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 278,716 shares of the network equipment provider’s stock valued at $6,705,000 after buying an additional 105,666 shares during the period. Credit Suisse AG raised its position in shares of Juniper Networks by 10.0% in the third quarter. Credit Suisse AG now owns 722,096 shares of the network equipment provider’s stock valued at $17,375,000 after buying an additional 65,506 shares during the period. Verition Fund Management LLC acquired a new position in shares of Juniper Networks during the third quarter valued at about $293,000. Candriam Luxembourg S.C.A. raised its position in shares of Juniper Networks by 605.5% in the third quarter. Candriam Luxembourg S.C.A. now owns 1,158,464 shares of the network equipment provider’s stock valued at $27,873,000 after buying an additional 994,260 shares during the period. Finally, Eaton Vance Management raised its position in shares of Juniper Networks by 16.5% in the third quarter. Eaton Vance Management now owns 341,669 shares of the network equipment provider’s stock valued at $8,221,000 after buying an additional 48,300 shares during the period. Institutional investors and hedge funds own 84.48% of the company’s stock.
Juniper Networks Company Profile
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, Middle East, and Africa (EMEA), and Asia Pacific (APAC).
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