Cisco Systems Given New $58.00 Price Target at Northland Capital Partners (CSCO)
Investment analysts at Northland Capital Partners upped their price objective on shares of Cisco Systems (NASDAQ:CSCO) from $50.00 to $58.00 in a note issued to investors on Friday, StockRatingsNetwork reports. The firm currently has an “outperform” rating on the stock. Northland Capital Partners’ target price points to a potential upside of 144.01% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Tuesday. Separately, analysts at Cantor Fitzgerald initiated coverage on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Thursday, September 19th. They set a “buy” rating and a $29.50 price target on the stock. Finally, analysts at Credit Suisse initiated coverage on shares of Cisco Systems (NASDAQ:CSCO) in a research note to investors on Wednesday, September 18th. They set an “underperform” rating and a $21.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-nine have assigned a buy rating and one has given a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and a consensus target price of $38.75.
Cisco Systems (NASDAQ:CSCO) opened at 23.77 on Friday. Cisco Systems has a 1-year low of $16.68 and a 1-year high of $26.49. The stock’s 50-day moving average is $24.37 and its 200-day moving average is $23.43. The company has a market cap of $127.4 billion and a P/E ratio of 12.78. Cisco Systems also saw unusually large options trading on Thursday. Traders bought 52,249 call options on the company. This represents an increase of 168% compared to the average volume of 19,471 call options.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.52 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.47 earnings per share. Cisco Systems’s revenue was up 6.2% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $2.09 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 23rd. Stockholders of record on Thursday, October 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, October 1st.
In other Cisco Systems news, Insider Robert Wayne Lloyd unloaded 973,946 shares of the company’s stock on the open market in a transaction that occurred on 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 in the company, valued at approximately $8,513,330. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
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