Cisco Systems (NASDAQ:CSCO)‘s stock had its “neutral” rating restated by stock analysts at Credit Suisse Group in a research report issued on Thursday, The Fly reports. They currently have a $52.00 price target on the network equipment provider’s stock, up from their prior price target of $47.00. Credit Suisse Group’s price target would indicate a potential downside of 0.04% from the company’s current price.
CSCO has been the topic of a number of other reports. KeyCorp lifted their price objective on shares of Cisco Systems from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, February 14th. Oppenheimer lifted their price objective on shares of Cisco Systems from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Bank of America reiterated a “buy” rating and issued a $56.00 price objective on shares of Cisco Systems in a research report on Thursday, February 14th. Robert W. Baird reiterated a “buy” rating and issued a $53.00 price objective on shares of Cisco Systems in a research report on Tuesday, February 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Cisco Systems to $55.00 and gave the company a “buy” rating in a research report on Thursday, February 14th. They noted that the move was a valuation call. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and an average target price of $55.09.
Shares of Cisco Systems stock opened at $52.02 on Thursday. The firm has a market capitalization of $247.14 billion, a PE ratio of 22.23, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. Cisco Systems has a 12 month low of $40.25 and a 12 month 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.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $12.89 billion. During the same period last year, the firm posted $0.66 EPS. Cisco Systems’s quarterly revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems will post 2.75 EPS for the current fiscal year.
Cisco Systems announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 13th that authorizes the company to buyback $15.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to purchase up to 6.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In related news, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $49.66, for a total value of $744,900.00. Following the sale, the director now directly owns 102,898 shares in the company, valued at approximately $5,109,914.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $51.70, for a total transaction of $3,619,000.00. Following the completion of the sale, the chief financial officer now owns 420,696 shares in the company, valued at $21,749,983.20. The disclosure for this sale can be found here. Insiders have sold a total of 115,000 shares of company stock worth $5,926,000 over the last 90 days. Insiders own 0.03% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Stone House Investment Management LLC acquired a new position in Cisco Systems in the 1st quarter valued at about $27,000. Phocas Financial Corp. acquired a new position in Cisco Systems in the 4th quarter valued at about $26,000. Lucia Wealth Services LLC raised its stake in Cisco Systems by 435.5% in the 1st quarter. Lucia Wealth Services LLC now owns 664 shares of the network equipment provider’s stock valued at $36,000 after purchasing an additional 540 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Cisco Systems in the 4th quarter valued at about $29,000. Finally, Horan Securities Inc. raised its stake in Cisco Systems by 663.0% in the 4th quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock valued at $33,000 after purchasing an additional 663 shares during the last quarter. Institutional investors and hedge funds own 69.04% of the company’s stock.
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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