Cisco Systems Given New $24.00 Price Target at MKM Partners (CSCO)
Research analysts at MKM Partners increased their target price on shares of Cisco Systems (NASDAQ:CSCO) from $20.00 to $24.00 in a report released on Thursday, Analyst Ratings News reports. The firm currently has a “neutral” rating on the stock. MKM Partners’ price target would suggest a potential upside of 5.45% from the company’s current price.
A number of other firms have also recently commented on CSCO. Analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note on Tuesday. Separately, 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 equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $24.92.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 4.03% on Thursday, hitting $21.9299. 61,642,104 shares of the company’s stock traded hands. 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 $22.26 and its 200-day moving average is $22.9. The company has a market cap of $117.3 billion and a P/E ratio of 12.43. Cisco Systems also saw some unusual options trading on Wednesday. Stock investors purchased 233,965 call options on the stock. This represents an increase of approximately 414% compared to the typical daily volume of 45,514 call options.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.47 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.46 by $0.01. The company had revenue of $11.16 billion for the quarter, compared to the consensus estimate of $11.03 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 7.8% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $1.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, April 23rd. Stockholders of record on Thursday, April 3rd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.34%.
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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