NEW YORK (TheStreet) -- JuniperNetworks (JNPR) - Get Report stock continues to retreat, down by 16.77% to $22.09 on heavy trading volume on Thursday, after the company provided lower-than-expected 2016 first quarter guidance and announced its CFO was resigning.
After the market close on Wednesday, the high-performance network provider reported earnings of 63 cents per share, surpassing analysts' estimates for earnings of 59 cents per share. Revenue of $1.3 billion was slightly higher than analysts forecasts of $1.29 billion.
However, Juniper projected 2016 first quarter earnings between 42 cents per share and 46 cents per share, while analysts were expecting earnings of 47 cents per share.
"We are confident this guidance can easily be met and consider management's tone to be cautious more as a result of macro-related concerns than for issues specific to the company and actually observed in the field," BernsteinResearch said in a note, according to Barrons.com.
Additionally, the company announced that CFO Robyn Denholm was resigning. Denholm will stay with the company over the next few months to assist with the transition, Juniper said.
So far today, 17.15 million shares of Juniper Networks have traded, versus its 30-day average of 5.99 million shares.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "buy" with a ratings score of B-. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, increase in net income, good cash flow from operations and growth in earnings per share. We feel its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: JNPR