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Sunnyvale, California-based Juniper Networks, Inc. (JNPR) designs, develops, and sells network products and services worldwide. Valued at $12 billion by market cap, the company is a leader in secure and AI-Networking and offers network infrastructure solutions that include IP routing, ethernet switching, security, and application acceleration. The leading network equipment maker is expected to announce its fiscal second-quarter earnings for 2024 after the market closes on Thursday, July 25.
Ahead of the event, analysts expect JNPR to report a profit of $0.24 per share on a diluted basis, down 42.9% from $0.42 per share in the year-ago quarter. The company beat the consensus estimates in two of the last four quarters while missing on two other occasions. In the previous quarter, JNPR lagged the consensus estimates owing to softness in cloud, enterprise and service provider verticals.
For the full year, analysts expect JNPR to report EPS of $1.08, down 31.2% from $1.57 in fiscal 2023.
JNPR stock has outperformed the S&P 500’s ($SPX) 17.3% gains on a YTD basis, with shares up 25.2% during this period. Similarly, it outshined the S&P 500 Technology Sector SPDR’s (XLK) 22.4% gains over the same time frame.
On Jan. 9, JNPR shares rose more than 23% in pre-market trading after Hewlett Packard Enterprise Company (HPE) announced an agreement to acquire JNPR for $14 billion.
On Apr. 25, JNPR reported its Q1 results. Its revenue of $1.15 billion missed the Wall Street forecasts of $1.23 billion. The company’s adjusted EPS of $0.29, lagged the Wall Street expectations of $0.39. JNPR shares closed down more than 1% on the day the results were released.
Analysts’ consensus opinion on JNPR stock is cautious, with a “Hold” rating overall. Out of 15 analysts covering the stock, three advise a “Strong Buy” rating, 11 give a “Hold” rating, and one recommends a “Moderate Sell.” The average analyst price target for JNPR is $36.57, indicating a marginal potential downside from the current levels.
On the date of publication, Dipanjan Banchur 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.
