Equities analysts forecast that Cisco Systems, Inc. (NASDAQ:CSCO) will post earnings of $0.59 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Cisco Systems’ earnings, with estimates ranging from $0.58 to $0.61. Cisco Systems posted earnings of $0.57 per share in the same quarter last year, which indicates a positive year over year growth rate of 3.5%. The business is expected to report its next earnings report after the market closes on Wednesday, February 14th.
According to Zacks, analysts expect that Cisco Systems will report full year earnings of $2.46 per share for the current financial year, with EPS estimates ranging from $2.41 to $2.50. For the next year, analysts expect that the business will post earnings of $2.59 per share, with EPS estimates ranging from $2.48 to $2.72. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. Cisco Systems’s quarterly revenue was down 1.7% on a year-over-year basis.
A number of brokerages recently weighed in on CSCO. Loop Capital began coverage on Cisco Systems in a report on Monday. They set a “hold” rating and a $45.00 price objective on the stock. KeyCorp reaffirmed an “overweight” rating and set a $43.00 price objective (up previously from $39.00) on shares of Cisco Systems in a report on Friday, January 19th. Zacks Investment Research lowered Cisco Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 18th. Barclays upped their target price on Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, January 17th. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $44.00 target price on shares of Cisco Systems in a report on Wednesday, January 10th. Fourteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.00.
Shares of Cisco Systems (NASDAQ CSCO) traded down $0.70 during mid-day trading on Friday, reaching $42.15. The company had a trading volume of 18,579,888 shares, compared to its average volume of 22,295,801. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $42.98. The firm has a market capitalization of $208,520.00, a price-to-earnings ratio of 21.85, a PEG ratio of 3.85 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were given a $0.29 dividend. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 annualized dividend and a dividend yield of 2.75%. Cisco Systems’s dividend payout ratio is currently 60.10%.
In other news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the transaction, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock worth $12,892,271 over the last 90 days. Company insiders own 0.05% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barnett & Company Inc. lifted its position in Cisco Systems by 1,511.5% during the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the period. Stonehearth Capital Management LLC purchased a new position in Cisco Systems during the fourth quarter worth about $102,000. Tortoise Investment Management LLC lifted its position in Cisco Systems by 36.1% during the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the period. Mountain Capital Investment Advisors Inc purchased a new position in Cisco Systems during the second quarter worth about $104,000. Finally, Grove Bank & Trust lifted its position in Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares during the period. Hedge funds and other institutional investors own 75.69% of the company’s stock.
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About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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