Cisco Systems (CSCO) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Cisco Systems (NASDAQ:CSCO) posted its quarterly earnings results on Wednesday. The company reported $0.47 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.46 by $0.01, Stock Ratings News reports. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter last year, the company posted $0.51 earnings per share. Cisco Systems’s revenue was down 7.8% compared to the same quarter last year. Cisco Systems updated its Q3 guidance to $0.47-0.49 EPS.
Cisco Systems (NASDAQ:CSCO) traded up 0.22% during mid-day trading on Wednesday, hitting $22.76. The stock had a trading volume of 11,864,648 shares. Cisco Systems has a one year low of $19.98 and a one year high of $26.49. The stock’s 50-day moving average is $22.23 and its 200-day moving average is $22.96. The company has a market cap of $121.7 billion and a price-to-earnings ratio of 12.35.
Several analysts have recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note on Tuesday. On the ratings front, 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. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $24.81.
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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