Cisco Systems, Inc. (NASDAQ:CSCO) – Investment analysts at KeyCorp lifted their Q3 2018 earnings per share estimates for shares of Cisco Systems in a research report issued on Wednesday. KeyCorp analyst A. Kurtz now expects that the network equipment provider will earn $0.58 per share for the quarter, up from their previous estimate of $0.56. KeyCorp has a “Overweight” rating and a $49.00 price target on the stock. KeyCorp also issued estimates for Cisco Systems’ Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.63 EPS and Q4 2019 earnings at $0.69 EPS.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. The company had revenue of $11.89 billion for the quarter, compared to the consensus estimate of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same quarter in the previous year, the firm earned $0.57 EPS.
CSCO has been the topic of several other research reports. Wells Fargo & Co reissued an “outperform” rating and set a $42.00 target price on shares of Cisco Systems in a research report on Tuesday, November 14th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a research report on Wednesday, January 17th. Vetr raised shares of Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 target price on the stock in a research report on Wednesday, December 27th. Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research report on Tuesday, October 24th. Finally, Royal Bank of Canada boosted their target price on shares of Cisco Systems to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, November 16th. Eleven investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $43.63.
Cisco Systems (NASDAQ CSCO) traded down $0.27 during trading hours on Monday, reaching $44.06. 29,006,600 shares of the company’s stock traded hands, compared to its average volume of 29,975,482. The stock has a market cap of $218,290.00, a P/E ratio of -137.69, a PEG ratio of 3.29 and a beta of 1.23. Cisco Systems has a 12 month low of $30.36 and a 12 month high of $45.13. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43.
Large investors have recently bought and sold shares of the business. Bank of New York Mellon Corp grew its holdings in shares of Cisco Systems by 12.8% during the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after buying an additional 13,927,416 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Cisco Systems by 91.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock worth $746,806,000 after buying an additional 9,292,187 shares in the last quarter. Stifel Financial Corp grew its holdings in shares of Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after buying an additional 8,016,561 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Institutional investors own 75.06% of the company’s stock.
In other Cisco Systems news, SVP Rebecca Jacoby sold 75,021 shares of the company’s stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the transaction, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $38.00, for a total transaction of $578,740.00. Following the transaction, the director now owns 113,154 shares of the company’s stock, valued at $4,299,852. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.
Cisco Systems announced that its board has initiated a share buyback program on Wednesday, February 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be paid a $0.33 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s payout ratio is currently -362.50%.
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Cisco Systems Company Profile
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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