Shares of Juniper Networks, Inc. (NYSE:JNPR) are down big today after the company announced that their CFO, Robyn Denholm will be resigning after the company files their 2015 annual report. Denholm will be replaced by the company’s current senior vice president of finance, Ken Miller. This isn’t the only reason why the company’s stock has taken such a large hit today though. Most of that has to do with their less than spectacular earnings forecast for this current quarter.
Juniper Networks, Inc. (NYSE:JNPR) expects earnings per share ot come in at just $0.42 to $0.46, which falls short of analysts’ estimates of $0.47. While this isn’t all that horrific, it is more uncertainty about the future of the company that has shareholders a bit bearish today. Afterall they did report an adjusted earnings per share of $0.63 for the previous quarter, and this beat the Street’s expecations by $0.04.
The stock is down 16.79% or $4.46 following the news, hitting $22.08 per share. About 17.70 million shares traded hands or 195.49% up from the average. JNPR has declined 2.39% since June 23, 2015 and is downtrending. It has outperformed the S&P500 by 8.63%.
From a total of 13 analysts covering Juniper Networks Inc. (NYSE:JNPR) stock, 8 rate it a “Buy”, 0 a “Sell”, and 5 a “Hold”. This means that 62% of the ratings are positive. The highest target price is $36 while the lowest target price is $28. The mean of all analyst targets is $32.50 which is 47.19% above today’s ($22.08) stock price. Juniper Networks Inc. was the topic of 23 analyst reports since July 24, 2015 according to the firm StockzIntelligence Inc. RBC Capital Markets maintained shares on January 20 with a “Outperform” rating. Barclays Capital initiated shares with a”Equalweight” rating and a $32 target share price in their report from an October 14. Deutsche Bank upgraded JNPR stock in a recent report from January 5 to a “Buy” rating. Finally, Oppenheimer downgraded the stock to a “Perform” rating in a report they issued on a January 5.
The institutional sentiment increased to 1.03 in Q2 2015. It’s up 0.19, from 0.84 in 2015Q2. The ratio is positive, as 49 funds sold all their Juniper Networks, Inc. shares they owned while 167 reduced their positions. 65 funds bought stakes while 158 increased their total positions. Institutions now own 326.26 million shares which is 9.08% more than the previous share count of 299.10 million in 2015Q2.
Sls Management Llc holds 6.97% of its total portfolio in Juniper Networks, Inc., equating to 354,766 shares. Fairpointe Capital Llc owns 8.05 million shares representing 3.53% of their total US portfolio. Moreover, Ascend Capital Llc has 2.46% of their total portfolio invested in the company, equating to 2.44 million shares. The New York-based Ao Asset Management Llc has a total of 2.21% of their portfolio invested in the stock. Kensico Capital Management Corp, a Connecticut-based fund reported 3.95 million shares owned.
Since April 28, 2015, the stock had 0 insider buys, and 4 insider sales for a total of $2.36 million in net activity. Molinaro Vincent sold 1,722 shares worth $46,804. Spidell Terrance F sold 348 shares worth $9,848. Stensrud William sold 10,000 shares worth $275,000. Davidson Jonathan sold 2,957 shares worth $80,677. The insider Denholm Robyn M sold 52,003 shares worth $1.42M.
Juniper Networks, Inc. designs, develops, and sells services and products for high-performance networks to enable clients to build networks for their businesses. The company has a market cap of $9.87 billion. The Firm sells its products in more than 100 countries in three geographic regions: Americas; Europe, Middle East, and Africa , and Asia Pacific (APAC). It currently has negative earnings. The Firm sells its network products and service offerings across routing, switching and security.