Brokerages predict that Cisco Systems, Inc. (NASDAQ:CSCO) will announce earnings per share of $0.71 for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Cisco Systems’ earnings, with the lowest EPS estimate coming in at $0.70 and the highest estimate coming in at $0.72. Cisco Systems posted earnings of $0.84 per share in the same quarter last year, which indicates a negative year over year growth rate of 15.5%. The firm is expected to issue its next earnings report after the market closes on Thursday, November 12th.
On average, analysts expect that Cisco Systems will report full-year earnings of $3.11 per share for the current year, with EPS estimates ranging from $2.95 to $3.25. For the next year, analysts forecast that the company will post earnings of $3.35 per share, with EPS estimates ranging from $3.15 to $3.47. Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 12th. The network equipment provider reported $0.80 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.06. Cisco Systems had a net margin of 22.75% and a return on equity of 34.75%. The business had revenue of $12.15 billion for the quarter, compared to analysts’ expectations of $12.09 billion. During the same quarter last year, the company earned $0.83 EPS.
A number of analysts recently weighed in on CSCO shares. Credit Suisse Group increased their price objective on shares of Cisco Systems from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, August 13th. William Blair reiterated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, August 13th. Zacks Investment Research lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 target price for the company. in a research report on Monday, August 10th. Goldman Sachs Group reiterated a “neutral” rating and issued a $45.00 target price on shares of Cisco Systems in a research report on Thursday, August 13th. Finally, Morgan Stanley reiterated a “buy” rating and issued a $54.00 target price on shares of Cisco Systems in a research report on Thursday, August 13th. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and ten have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $47.45.
CSCO stock opened at $40.16 on Tuesday. The company has a quick ratio of 1.67, a current ratio of 1.72 and a debt-to-equity ratio of 0.31. Cisco Systems has a fifty-two week low of $32.40 and a fifty-two week high of $50.28. The firm’s 50-day simple moving average is $39.95 and its 200 day simple moving average is $43.30. The stock has a market cap of $170.01 billion, a PE ratio of 15.27, a price-to-earnings-growth ratio of 2.16 and a beta of 0.87.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 21st. Shareholders of record on Friday, October 2nd will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, October 1st. Cisco Systems’s payout ratio is 49.32%.
In other Cisco Systems news, CEO Charles Robbins sold 7,806 shares of the firm’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $42.10, for a total value of $328,632.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kelly A. Kramer sold 45,000 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $42.01, for a total transaction of $1,890,450.00. Over the last quarter, insiders sold 60,166 shares of company stock valued at $2,528,248. Corporate insiders own 0.03% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Domani Wealth LLC lifted its position in shares of Cisco Systems by 14.1% in the third quarter. Domani Wealth LLC now owns 11,374 shares of the network equipment provider’s stock worth $448,000 after purchasing an additional 1,403 shares in the last quarter. Hennessy Advisors Inc. lifted its position in shares of Cisco Systems by 5.8% in the third quarter. Hennessy Advisors Inc. now owns 259,200 shares of the network equipment provider’s stock worth $10,210,000 after purchasing an additional 14,150 shares in the last quarter. Cardinal Capital Management lifted its position in shares of Cisco Systems by 1.9% in the third quarter. Cardinal Capital Management now owns 120,486 shares of the network equipment provider’s stock worth $4,746,000 after purchasing an additional 2,299 shares in the last quarter. IBM Retirement Fund lifted its position in shares of Cisco Systems by 36.6% in the third quarter. IBM Retirement Fund now owns 144,780 shares of the network equipment provider’s stock worth $5,703,000 after purchasing an additional 38,819 shares in the last quarter. Finally, Adams Asset Advisors LLC lifted its position in shares of Cisco Systems by 26.1% in the third quarter. Adams Asset Advisors LLC now owns 130,990 shares of the network equipment provider’s stock worth $5,159,000 after purchasing an additional 27,100 shares in the last quarter. 71.28% of the stock is owned by institutional investors and hedge funds.
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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