Boston, MA 10/28/2013 (wallstreetpr) – Juniper Networks, Inc. (NYSE:JNPR) issued an updated Q4 earnings guidance of $0.35 – 0.37. Thomson Reuters has a consensus estimate for the Q4 of $0.36. The network infrastructure provider has its eyes on $1.2 – 1.23 billion in revenue for the next quarter. However, Wall Street has a consensus revenue estimate of $1.23 billion.
JNPR issued its Q3.13 earnings report on Tuesday, October 22, where it reported per share earnings and revenue in excess of Wall Street estimates. In the per share earnings, the network solutions company reported $0.33 compared to analysts’ consensus of $0.31. In the revenue figures, the company reported earning $1.19 billion in revenue compared to analysts’ estimate of $1.17 billion. In the comparable quarter of the prior year, JNPR realized revenue upside of 6.1% while per share earnings increased by $0.09. Wall Street now wants the network infrastructure provider to earn 41.20 in full-year per share this fiscal calendar. The company currently has a consensus rating of hold and a consensus target price of $21.26. This follows sentiments from seven analysts issuing a buy rating, 17 issuing hold and three issuing sell rating on the stock.
JNPR designs, develops and markets products and services which are geared towards offering high-end networking infrastructure solutions. The company has validated its ability to put massive profits into the hands of investors with its increasing earnings and revenue growth. It also has good quick ratio which means it’s out of the short-term cash crunch. The company’s cost cutting strategies are also indicative of its positive future. The company’s stock closed on the positive end of things gaining 0.59% to settle at $18.70. It appears the update of the company’ earnings and revenue guidance for the next quarter resonated well with investors, thus this positive activity for the better part of the previous week since the release of the better-than-the Street results. JNPR now has a market cap of $9.45 billion.
