Goldman Sachs Group Inc. Reiterates Conviction-Buy Rating for Cisco Systems (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “conviction-buy” rating reiterated by equities researchers at Goldman Sachs Group Inc. in a research report issued on Monday, Analyst Ratings.Net reports. They currently have a $30.00 target price on the stock. Goldman Sachs Group Inc.’s price objective suggests a potential upside of 30.32% from the company’s current price.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, analysts at Cantor Fitzgerald reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Friday, September 27th. They now have a $29.50 price target on the stock. Two 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. Cisco Systems has a consensus rating of “Buy” and a consensus price target of $39.82.
Cisco Systems (NASDAQ:CSCO) traded down 0.20% during mid-day trading on Monday, hitting $22.975. The stock had a trading volume of 10,713,666 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 P/E ratio of 12.38.
Cisco Systems (NASDAQ:CSCO) last released its 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 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. Analysts expect that Cisco Systems will post $2.10 EPS 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 2.95%. The ex-dividend date is Tuesday, October 1st.
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.