Cisco Systems Price Target Cut to $24.00 (CSCO)
Equities researchers at RBC Capital lowered their price objective on shares of Cisco Systems (NASDAQ:CSCO) from $26.00 to $24.00 in a research report issued on Monday, Stock Ratings Network reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s price objective suggests a potential upside of 6.29% from the stock’s previous close.
CSCO has been the subject of a number of other recent research reports. Analysts at Barclays cut their price target on shares of Cisco Systems from $30.00 to $27.00 in a research note to investors on Monday. They now have an “overweight” rating on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note to investors on Monday. Finally, analysts at MKM Partners downgraded shares of Cisco Systems from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, October 16th. They now have a $26.00 price target on the stock, down previously from $28.00. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-seven 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 $39.60.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.07% during mid-day trading on Monday, hitting $22.58. The stock had a trading volume of 28,616,960 shares. Cisco Systems has a one year low of $16.68 and a one year high of $26.49. The stock has a 50-day moving average of $23.24 and a 200-day moving average of $23.77. The company has a market cap of $121.1 billion and a price-to-earnings ratio of 12.13.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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 $2.11 earnings per share for the current fiscal year.
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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