Cisco Systems, Inc. (NASDAQ:CSCO) – Piper Jaffray Companies upped their Q4 2020 earnings per share estimates for shares of Cisco Systems in a research note issued to investors on Monday, November 11th. Piper Jaffray Companies analyst J. Fish now expects that the network equipment provider will earn $0.76 per share for the quarter, up from their prior estimate of $0.75. Piper Jaffray Companies has a “Neutral” rating and a $51.00 price target on the stock. Piper Jaffray Companies also issued estimates for Cisco Systems’ Q1 2021 earnings at $0.74 EPS, Q4 2021 earnings at $0.77 EPS and Q1 2022 earnings at $0.77 EPS.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 EPS for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s quarterly revenue was up 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.70 EPS.
A number of other equities analysts have also recently commented on CSCO. Raymond James reiterated an “overweight” rating on shares of Cisco Systems in a report on Friday, August 16th. Nomura lifted their target price on shares of Cisco Systems from $50.00 to $53.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Credit Suisse Group reaffirmed a “neutral” rating and issued a $49.00 target price (down from $50.00) on shares of Cisco Systems in a research note on Tuesday, November 5th. Cowen lowered their price objective on shares of Cisco Systems from $65.00 to $61.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. set a $62.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a research note on Monday, August 12th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nineteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $55.64.
Shares of Cisco Systems stock traded up $0.56 on Tuesday, reaching $48.66. The company had a trading volume of 335,200 shares, compared to its average volume of 16,002,102. The firm has a market cap of $207.23 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 2.37 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.46. The firm’s 50-day moving average price is $47.54 and its two-hundred day moving average price is $52.00. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $58.26.
Hedge funds have recently made changes to their positions in the company. Mirador Capital Partners LP lifted its stake in Cisco Systems by 1.7% during the 2nd quarter. Mirador Capital Partners LP now owns 11,977 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 199 shares in the last quarter. Weil Company Inc. boosted its holdings in Cisco Systems by 0.5% in the second quarter. Weil Company Inc. now owns 38,992 shares of the network equipment provider’s stock worth $2,134,000 after acquiring an additional 201 shares in the last quarter. Pinnacle Holdings LLC boosted its holdings in Cisco Systems by 1.0% in the second quarter. Pinnacle Holdings LLC now owns 19,758 shares of the network equipment provider’s stock worth $1,081,000 after acquiring an additional 201 shares in the last quarter. Baystate Wealth Management LLC boosted its holdings in Cisco Systems by 2.0% in the second quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock worth $600,000 after acquiring an additional 202 shares in the last quarter. Finally, Keel Point LLC boosted its holdings in Cisco Systems by 3.7% in the second quarter. Keel Point LLC now owns 5,708 shares of the network equipment provider’s stock worth $312,000 after acquiring an additional 202 shares in the last quarter. 73.79% of the stock is owned by institutional investors.
In other news, EVP David Goeckeler sold 70,000 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $49.22, for a total transaction of $3,445,400.00. Following the completion of the sale, the executive vice president now owns 429,398 shares of the company’s stock, valued at approximately $21,134,969.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Irving Tan sold 22,896 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $49.42, for a total transaction of $1,131,520.32. Following the sale, the senior vice president now directly owns 154,819 shares of the company’s stock, valued at approximately $7,651,154.98. The disclosure for this sale can be found here. Insiders have sold a total of 193,130 shares of company stock valued at $9,359,179 in the last three months. Insiders own 0.03% of the company’s stock.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.88%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.
About Cisco Systems
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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