Cisco Systems (NASDAQ:CSCO) announced its quarterly earnings results on Wednesday. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.01, RTT News reports. Cisco Systems had a net margin of 22.39% and a return on equity of 31.04%. The company had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. During the same period in the prior year, the business earned $0.70 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Cisco Systems updated its Q1 2020 guidance to $0.80-0.82 EPS and its Q1 guidance to $0.80-0.82 EPS.
Shares of CSCO opened at $46.96 on Friday. The company has a current ratio of 1.69, a quick ratio of 1.64 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $201.02 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.32 and a beta of 1.18. The firm’s fifty day simple moving average is $55.20 and its two-hundred day simple moving average is $53.85. Cisco Systems has a 12 month low of $40.25 and a 12 month high of $58.26.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is currently 49.12%.
In other Cisco Systems news, Director Steven M. West sold 20,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total transaction of $1,124,200.00. Following the sale, the director now owns 5,263 shares of the company’s stock, valued at $295,833.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the sale, the chief financial officer now directly owns 349,122 shares in the company, valued at approximately $18,698,974.32. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 in the last ninety days. Insiders own 0.03% of the company’s stock.
Several brokerages recently weighed in on CSCO. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $63.00 price objective on the stock in a research note on Tuesday, May 21st. Oppenheimer boosted their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. Morgan Stanley reduced their price objective on shares of Cisco Systems from $51.00 to $49.00 and set an “equal weight” rating on the stock in a research note on Thursday. Tigress Financial reissued a “buy” rating on shares of Cisco Systems in a research note on Thursday, June 27th. Finally, Citigroup reduced their price objective on shares of Cisco Systems from $65.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $56.59.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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