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January 24, 2013
13:20 EDTJNPREarnings Preview: Juniper Networks shares higher ahead Q4 earnings
Juniper Networks (JNPR) is set to report its Q4 earnings after the market close on Thursday, January 24, with a conference call scheduled for 5:00 pm ET. Juniper Networks is a designer and seller of products and services that provide customers with network infrastructure... EXPECTATIONS: Analysts are looking for EPS of 22c on revenue of $1.13B, according to First Call. The consensus range for EPS is 20c-26c on revenue of $1.11B-$1.17B... LAST QUARTER: Juniper reported Q3 EPS of 22c against estimates for 17c on revenue of $1.12B against estimates for $1.06B. During its Q3 earnings call, Juniper said it sees Q4 EPS 19c-22c against estimates for 22c, on revenue of $1.1B-$1.13B against estimates for $1.15B. At the Raymond James IT Supply Chain conference in December, Juniper said that it has $650M remaining on a June 2012 $1B share repurchase authorization, saying it sees an opportunity for more aggressive share repurchases in the current environment. At the same conference, the company said it has no plans to be a dividend payer in the near-term. On December 12, Juniper announced it acquired Contrail Networks for $176M in cash and stock... STREET RESEARCH: Street research has been generally positive since its Q3 earnings report, and shares were most recently upgraded last week to Overweight from Neutral at JPMogran with a $25 price target. The stock received its lone downgrade, to Sector Perform from Outperform, at Pacific Crest in November, but shares were mentioned positively at Morgan Stanley and Cantor upgraded shares to Buy from Hold in November... PRICE ACTION: Shares of Juniper have gained more than $3.75, or more than 22.5% since the first day of trading following its Q3 report. Ahead of its Q4 report, shares of Juniper are up about 0.4% in afternoon trading.
News For JNPR From The Last 14 Days
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November 24, 2015
11:33 EDTJNPRBrocade sinks to 52-week low after Q1 outlook trails estimates
Shares of Brocade (BRCD), a supplier of networking equipment, are sinking after the company's outlook for the first quarter trailed analysts' consensus estimates. WHAT'S NEW: Last night, Brocade reported fourth quarter adjusted earnings per share of 26c and revenue of $588.83M, beating analysts' consensus estimates of 24c and $575.1M, respectively. Adjusted gross margin for the quarter was 67.9%, while adjusted operating margin was 25%. SAN product revenue was $325M in Q4, flat year-over-year and up 5% quarter-over-quarter, while Q4 IP Networking product revenue was $170M, up 12% year-over-year and 10% quarter-over-quarter. GUIDANCE: Looking ahead to Q1, Brocade forecast adjusted EPS of 23c-25c and revenue of $550M-$570M, below analysts' consensus estimates of 26c and $582.17M, respectively. The company also sees Q1 adjusted gross margin of 67%-67.5%, adjusted operating margin of 24%-25.5%, adjusted free cash flow of $30M-$50M, operating cash flow of $50M-$70M and capital expenditures of $15M-$20M. Additionally, the company forecast Q1 SAN product revenue flat to up 3% quarter over quarter, "as we typically see stronger buying patterns from our OEM partners in our fiscal Q1." IP Networking revenue is expected down 16% to down 22% q/q, driven by U.S. federal seasonality and lower router sales. The company sees Q1 Global Services revenue down 2% q/q due to a one-time catch-up benefit realized in Q4 of approximately $3M. Brocade noted that at the end of Q4, OEM inventory was approximately 1.3 weeks of supply based on SAN business revenue and the company expects inventory to be between one to two weeks in Q1. ANALYST REACTION: JPMorgan analyst Rod Hall downgraded Brocade to Neutral from Overweight this morning, saying that enterprise IT spending continues to look weak after the company's guidance missed estimates. Hall also cut his price target for shares to $9 from $14. PRICE ACTION: Brocade fell 82c, or about 8%, to $9.27 in late morning trading on more than three times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $9.16. Including today's pull back, the shares have lost approximately 20% over the past 12 months. OTHERS TO WATCH: Other networking equipment suppliers include Cisco Systems (CSCO), down 0.6%, Juniper Networks (JNPR), down 0.4%, Extreme Networks (EXTR), down 0.7%, and QLogic (QLGC), down 1.3%.

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