Cisco Systems, Inc. (NASDAQ:CSCO) – Equities research analysts at KeyCorp upped their Q2 2018 earnings per share estimates for Cisco Systems in a report released on Wednesday. KeyCorp analyst A. Kurtz now expects that the network equipment provider will post earnings of $0.53 per share for the quarter, up from their prior estimate of $0.52. KeyCorp has a “Buy” rating and a $33.00 price objective on the stock. KeyCorp also issued estimates for Cisco Systems’ Q3 2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.63 EPS and FY2019 earnings at $2.32 EPS.
A number of other brokerages have also recently issued reports on CSCO. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 target price on the stock in a report on Wednesday, September 6th. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Tuesday, October 31st. Deutsche Bank AG reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Wednesday, September 6th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and an average price target of $36.73.
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Cisco Systems (CSCO) traded up $0.60 on Monday, hitting $36.50. The stock had a trading volume of 26,897,800 shares, compared to its average volume of 20,241,834. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $36.67. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The company has a market cap of $181,630.00, a P/E ratio of 16.54, a PEG ratio of 3.17 and a beta of 1.15.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS 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 company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of CSCO. Vantage Financial Partners Ltd. Inc. acquired a new position in Cisco Systems in the second quarter valued at $231,000. Barnett & Company Inc. lifted its holdings in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC lifted its holdings in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Cisco Systems in the second quarter valued at $104,000. Finally, Manchester Capital Management LLC lifted its holdings in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the period. Hedge funds and other institutional investors own 75.14% of the company’s stock.
In related news, SVP Karen Walker sold 23,110 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the completion of the transaction, the senior vice president now owns 192,774 shares in the company, valued at $6,180,334.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the transaction, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock valued at $15,347,574 in the last 90 days. 0.05% of the stock is owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 3.18%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.10%.
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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