TheStreet Reiterates “Buy” Rating for Cisco Systems (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reaffirmed by stock analysts at TheStreet in a report issued on Tuesday, StockRatingsNetwork.com 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 expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
Several other analysts have also recently commented on the stock. Analysts at Sterne Agee reiterated a “buy” rating on shares of Cisco Systems in a research note on Tuesday. They now have a $21.00 price target on the stock, down previously from $25.00. Separately, analysts at JPMorgan Chase & Co. downgraded shares of Cisco Systems from a “neutral” rating to an “underweight” rating in a research note on Monday, January 27th. They now have a $17.00 price target on the stock, down previously from $21.00. They noted that the move was a valuation call. Finally, analysts at Thomson Reuters/Verus downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a research note on Monday, December 30th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-eight have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $24.81.
Cisco Systems (NASDAQ:CSCO) opened at 22.80 on Tuesday. Cisco Systems has a 52 week low of $19.98 and a 52 week high of $26.49. The stock has a 50-day moving average of $22. and a 200-day moving average of $22.98. The company has a market cap of $121.9 billion and a P/E ratio of 12.41.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The company reported $0.53 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.51 by $0.02. The company had revenue of $12.09 billion for the quarter, compared to the consensus estimate of $12.35 billion. During the same quarter last year, the company posted $0.48 earnings per share. Cisco Systems’s revenue was up 1.8% compared to the same quarter last year. On average, analysts predict that Cisco Systems will post $1.98 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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