Cisco Systems (NASDAQ:CSCO) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.80-0.82 for the period, compared to the Thomson Reuters consensus estimate of $0.81. The company issued revenue guidance of +4.5-6.5% to ~$13.21-13.46 billion, compared to the consensus revenue estimate of $13.29 billion.Cisco Systems also updated its Q4 2019 guidance to $0.80-0.82 EPS.
A number of equities research analysts have commented on the stock. Morgan Stanley cut shares of Cisco Systems from an overweight rating to an equal weight rating and decreased their target price for the stock from $51.00 to $49.00 in a research note on Tuesday, February 12th. Wells Fargo & Co restated an outperform rating and set a $57.00 target price (up previously from $52.00) on shares of Cisco Systems in a research note on Wednesday, February 13th. MKM Partners raised their target price on shares of Cisco Systems to $54.00 and gave the stock a neutral rating in a research note on Thursday, February 14th. Argus reaffirmed a buy rating and set a $55.00 price objective on shares of Cisco Systems in a report on Tuesday, January 15th. Finally, BidaskClub lowered shares of Cisco Systems from a strong-buy rating to a buy rating in a report on Tuesday, May 7th. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $54.35.
Shares of CSCO stock traded up $0.42 on Wednesday, reaching $52.44. The company’s stock had a trading volume of 27,541,015 shares, compared to its average volume of 20,591,275. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $57.53. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.74 and a current ratio of 1.80. The firm has a market cap of $247.14 billion, a PE ratio of 22.41, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The firm had revenue of $12.96 billion during the quarter, compared to analyst estimates of $12.89 billion. During the same period last year, the firm posted $0.66 earnings per share. Cisco Systems’s revenue for the quarter was up 4.0% compared to the same quarter last year. On average, equities analysts predict that Cisco Systems will post 2.75 EPS for the current year.
Cisco Systems declared that its board has authorized a share repurchase plan on Wednesday, February 13th that allows the company to repurchase $15.00 billion in shares. This repurchase authorization allows the network equipment provider to purchase up to 6.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
In related news, EVP David Goeckeler sold 30,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the completion of the sale, the executive vice president now directly owns 419,439 shares in the company, valued at $21,840,188.73. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $51.70, for a total value of $3,619,000.00. Following the completion of the sale, the chief financial officer now owns 420,696 shares of the company’s stock, valued at $21,749,983.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,000 shares of company stock valued at $5,926,000. 0.03% of the stock is owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Investment Partners LTD. grew its stake in Cisco Systems by 0.7% in the first quarter. Investment Partners LTD. now owns 28,696 shares of the network equipment provider’s stock valued at $1,549,000 after purchasing an additional 186 shares during the last quarter. Hanson McClain Inc. grew its stake in Cisco Systems by 1.5% in the first quarter. Hanson McClain Inc. now owns 12,792 shares of the network equipment provider’s stock valued at $691,000 after purchasing an additional 193 shares during the last quarter. BlueSky Wealth Advisors LLC grew its stake in Cisco Systems by 3.4% in the first quarter. BlueSky Wealth Advisors LLC now owns 6,047 shares of the network equipment provider’s stock valued at $334,000 after purchasing an additional 200 shares during the last quarter. Gilbert & Cook Inc. grew its stake in Cisco Systems by 2.2% in the first quarter. Gilbert & Cook Inc. now owns 9,181 shares of the network equipment provider’s stock valued at $495,000 after purchasing an additional 202 shares during the last quarter. Finally, Harwood Advisory Group LLC grew its stake in Cisco Systems by 0.4% in the first quarter. Harwood Advisory Group LLC now owns 55,044 shares of the network equipment provider’s stock valued at $2,972,000 after purchasing an additional 205 shares during the last quarter. Institutional investors own 69.04% of the company’s stock.
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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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