Earnings Preview of the Day 7/24: Juniper Networks (JNPR)
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StreetInsider.com Earnings Preview of the Day:
While quarterly earnings per share and revenue results are often the most widely looked at metric of a company's financial position, Wall Street also considers other important factors such as guidance or margins, just to name a few. As a result, stocks often trade wildly around an earnings announcement: seemingly weak sales and EPS numbers do not guarantee downside and could still cause a stock to trade higher due to a better-than-expected guidance range, for example.
Keeping this in mind, lets take a look at how Juniper Networks' (Nasdaq: JNPR) stock trades following an earnings report. Juniper will report its Q2 earnings right after today's close. All financial metrics aside, consider simply how the market reacts to Junipers' quarterly results:
| Quarter - Date of Report | Actual Results vs. Street Estimates | Stock Performance 1 Day After Earnings | Stock Performance 45 Days After Earnings |
|---|---|---|---|
| Q108 - Apr. 24 | Beat | Up 3.8% | Down 0.2% |
| Q407 - Jan. 24 | Beat | Down 1.3% | Down 5.2% |
| Q307 - Oct. 23 | Beat | Down 8.4% | Down 9.2% |
| Q207 - Jul. 18 | In-Line | Up 12.5% | Up 9.5% |
| Q107 - Apr. 23 | In-Line | Down 1.1% | Up 14.6% |
| Q406 - Jan. 30 | In-Line | Down 8.6% | Down 0.6% |
Conclusion:
The above data shows that Juniper has beat the Street's estimates in 3 of the last 6 earnings report, but only traded up once the day after the better-than-expected results. Based on this data, investors could speculate that the stock generally trades in negative relation to its financial performance versus the analyst estimates (ie. the stock price fell despite beating Wall Street estimates 50% of the time). Further, Juniper stock sees relatively small moves around an earnings report: on average, it has traded down 0.5% the day after an earnings report, but has performed better over the next month and a half, up 1.4%.
StreetInsider.com Note: the above research was done only using StreetInsider.com and a chart of the stock. In order to see a history of earnings reports on a certain stock, type in your favorite ticker in the box to the left of the "Get Quote" button in the upper left-hand corner of the StreetInsider.com home page. Once at the stock look-up page, scroll down to the section labeled "Reports by Category". This section can be used to group reports on a specific stock into similar categories like earnings. After clicking on the Earnings link, users can easily see the dates of all earnings covered as well as the results versus the Street's consensus.
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