/Juniper%20Networks%20Inc%20logo%20on%20phone-by%20dennizn%20via%20Shutterstock.jpg)
Juniper Networks, Inc. (JNPR), headquartered in Sunnyvale, California, is a leading networking solution provider that drives high-performance networks for businesses, service providers, and government agencies worldwide with a market cap of $12.62 billion. Juniper Networks is set to announce its Q3 earnings on Thursday, Oct. 24.
Ahead of the event, analysts expect JNPR to report a profit of $0.32 per share, down 22% from $0.41 in the year-ago quarter. The company has missed Wall Street's bottom-line estimates in three of the last four quarters while surpassing on another occasion.
Its adjusted earnings of $0.16 per share for the last quarter missed the consensus estimate by 33.3%. Juniper Networks' quarterly earnings miss was mainly due to a decline in revenue driven by weaker demand and increased competition in the wireless equipment segment.
For fiscal 2024, analysts expect JNPR to report EPS of $0.97, down 38.2% from $1.57 in fiscal 2023.
JNPR stock is up 31.7% on a YTD basis, outperforming the broader S&P 500 Index's ($SPX) 20.6% gains and the Technology Select Sector SPDR Fund's (XLK) 17.1% returns over the same time frame.
On Jul. 25, JNPR reported its Q2 results. Revenue was $1.19 billion, missing analysts' expectations of $1.24 billion. The stock gained 2% on the day it released earnings.
The consensus opinion on JNPR stock is cautious, with an overall “Hold” rating. Of 13 analysts covering the stock, one advises “Strong Buy,” 11 suggest a “Hold,” and one suggests “Moderate Sell.” JNPR's average analyst price target is $39, indicating a marginal upside from the current levels.
On the date of publication, Rashmi Kumari did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
