Cisco Systems Sees Unusually Large Options Volume (CSCO)
Cisco Systems (NASDAQ:CSCO) was the target of unusually large options trading on Tuesday. Traders bought 28,980 put options on the stock, Stock Ratings Network.com reports. This represents an increase of approximately 101% compared to the average daily volume of 14,436 put options.
A number of research firms have recently commented on CSCO. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Monday. Separately, 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. Finally, 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. Two investment analysts have rated the stock with a sell rating, twelve have assigned 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 price target of $39.82.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 1.11% during mid-day trading on Tuesday, hitting $22.635. 31,865,740 shares of the company’s stock traded hands. Cisco Systems has a one year low of $16.68 and a one year high of $26.49. The stock’s 50-day moving average is $23.81 and its 200-day moving average is $23.55. The company has a market cap of $121.4 billion and a P/E ratio of 12.31.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 14th. The company reported $0.52 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 6.2% on a year-over-year basis. 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 3.00%. 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.
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