Investors Buy Large Volume of Put Options on Cisco Systems (CSCO)
Shares of Cisco Systems (NASDAQ:CSCO) were the target of some unusual options trading activity on Thursday. Investors acquired 97,676 put options on the company, AnalystRatings.Net reports. This represents an increase of 141% compared to the average daily volume of 40,510 put options.
A number of research firms have recently commented on CSCO. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday. They now have a $24.00 price target on the stock. Separately, analysts at MKM Partners raised their price target on shares of Cisco Systems from $20.00 to $24.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Cisco Systems in a research note on Tuesday. Three equities 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’s stock. The company has an average rating of “Buy” and an average target price of $24.90.
Cisco Systems (NASDAQ:CSCO) opened at 22.27 on Friday. 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 $22.26 and a 200-day moving average of $22.96. The company has a market cap of $119.1 billion and a price-to-earnings ratio of 12.43.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results 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. Analysts expect that Cisco Systems will post $1.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 23rd. Investors of record on Thursday, April 3rd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.41%.
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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