Cisco Systems, Inc. to Post Q3 2019 Earnings of $0.68 Per Share, KeyCorp Forecasts (CSCO)

Cisco Systems, Inc. (NASDAQ:CSCO) – Investment analysts at KeyCorp upped their Q3 2019 EPS estimates for Cisco Systems in a research report issued on Wednesday, May 16th. KeyCorp analyst A. Kurtz now forecasts that the network equipment provider will post earnings of $0.68 per share for the quarter, up from their prior estimate of $0.67. KeyCorp has a “Overweight” rating and a $49.00 price objective on the stock. KeyCorp also issued estimates for Cisco Systems’ Q4 2019 earnings at $0.72 EPS.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.65 by $0.01. The firm had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a positive return on equity of 19.48% and a negative net margin of 2.61%. During the same period last year, the business posted $0.60 EPS.

Several other equities analysts also recently weighed in on the company. Nomura upgraded Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Monday, February 12th. Stifel Nicolaus reiterated a “hold” rating and set a $46.00 target price (up from $40.00) on shares of Cisco Systems in a research report on Thursday, February 15th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a research report on Wednesday, February 21st. Vetr downgraded Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 target price on the stock. in a research report on Monday, April 9th. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 15th. Ten research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and an average price target of $45.78.

Cisco Systems opened at $43.75 on Monday, MarketBeat reports. The firm has a market capitalization of $208.16 billion, a PE ratio of 20.35, a PEG ratio of 3.08 and a beta of 1.14. Cisco Systems has a 1 year low of $30.36 and a 1 year high of $46.37. The company has a current ratio of 2.34, a quick ratio of 2.28 and a debt-to-equity ratio of 0.44.

Hedge funds have recently modified their holdings of the company. Rothschild Investment Corp IL increased its stake in Cisco Systems by 1.9% during the fourth quarter. Rothschild Investment Corp IL now owns 297,112 shares of the network equipment provider’s stock worth $11,379,000 after acquiring an additional 5,517 shares during the last quarter. Pzena Investment Management LLC increased its stake in Cisco Systems by 0.4% during the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after acquiring an additional 10,265 shares during the last quarter. Mitsubishi UFJ Asset Management UK Ltd. increased its stake in Cisco Systems by 320.0% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 126,000 shares of the network equipment provider’s stock worth $4,825,000 after acquiring an additional 96,000 shares during the last quarter. Mizuho Securities USA LLC increased its stake in Cisco Systems by 20.9% during the fourth quarter. Mizuho Securities USA LLC now owns 18,506 shares of the network equipment provider’s stock worth $709,000 after acquiring an additional 3,199 shares during the last quarter. Finally, Spectrum Management Group Inc. increased its stake in Cisco Systems by 4.4% during the third quarter. Spectrum Management Group Inc. now owns 76,045 shares of the network equipment provider’s stock worth $2,557,000 after acquiring an additional 3,182 shares during the last quarter. 73.89% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director M Michele Burns sold 12,126 shares of Cisco Systems stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the sale, the director now directly owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Goeckeler sold 20,671 shares of Cisco Systems stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $45.50, for a total value of $940,530.50. The disclosure for this sale can be found here. Insiders own 0.05% of the company’s stock.

Cisco Systems announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

About Cisco Systems

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.

Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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