Cisco Systems Receives Buy Rating from TheStreet (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by TheStreet in a research note issued on Monday, American Banking News reports.
The analysts wrote, “Cisco Systems (CSCO) has been reiterated by TheStreet Ratings as a buy with a ratings score of B+. The company’s strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, notable return on equity, attractive valuation levels and solid stock price performance. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results.”
Shares of Cisco Systems (NASDAQ:CSCO) traded down 0.22% during mid-day trading on Monday, hitting $22.97. The stock had a trading volume of 10,712,265 shares. Cisco Systems has a 52-week low of $16.68 and a 52-week high of $26.49. The stock’s 50-day moving average is $23.90 and its 200-day moving average is $23.49. The company has a market cap of $123.2 billion and a price-to-earnings ratio of 12.38.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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 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 $2.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 23rd. Stockholders 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 2.95%. The ex-dividend date is Tuesday, October 1st.
CSCO has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. reiterated a “conviction-buy” rating on shares of Cisco Systems in a research note to investors on Monday. They now have a $30.00 price target on the stock. Separately, analysts at Argus reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Tuesday, October 1st. They now have a $23.43 price target on the stock, down previously from $29.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note to investors on Friday, September 27th. They now have a $25.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $39.82.
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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