Cantor Fitzgerald Reiterates Buy Rating for Cisco Systems (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by equities researchers at Cantor Fitzgerald in a research report issued on Friday, AR Network reports. They currently have a $29.50 target price on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 24.11% from the company’s current price.
Cisco Systems (NASDAQ:CSCO) opened at 23.77 on Friday. Cisco Systems has a 52 week low of $16.68 and a 52 week high of $26.49. The stock has a 50-day moving average of $24.37 and a 200-day moving average of $23.43. The company has a market cap of $127.4 billion and a P/E ratio of 12.78. Cisco Systems also was the target of unusually large options trading activity on Thursday. Stock traders bought 52,249 call options on the company. This is an increase of 168% compared to the typical daily volume of 19,471 call options.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The company reported $0.52 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.51 by $0.01. The company had revenue of $12.40 billion for the quarter, compared to the consensus estimate of $12.40 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was up 6.2% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $2.09 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 23rd. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Tuesday, October 1st.
In other Cisco Systems news, Insider Robert Wayne Lloyd sold 973,946 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $24.39, for a total transaction of $23,754,542.94. Following the completion of the sale, the insider now directly owns 349,050 shares of the company’s stock, valued at approximately $8,513,330. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of other firms have also recently commented on CSCO. Analysts at Northland Securities raised their price target on shares of Cisco Systems (NASDAQ:CSCO) from $50.00 to $58.00 in a research note to investors on Friday. Separately, analysts at Northland Capital Partners raised their price target on shares of Cisco Systems (NASDAQ:CSCO) from $50.00 to $58.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average target price of $39.57.
Cisco Systems, Inc designs, manufactures, and sells Internet protocol (NASDAQ:CSCO)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.