Cisco Systems’s Buy Rating Reaffirmed at TheStreet (CSCO)
Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by TheStreet in a research note issued on Monday, American Banking News.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 reasonable valuation levels, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income.”
In other Cisco Systems news, COO Gary Moore sold 137,500 shares of Cisco Systems stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $22.39, for a total transaction of $3,078,625.00. Following the completion of the sale, the chief operating officer now directly owns 659,341 shares of the company’s stock, valued at approximately $14,762,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
CSCO has been the subject of a number of other recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, February 13th. 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, February 13th. They now have a “neutral” rating on the stock. Finally, analysts at Sterne Agee reiterated a “buy” rating on shares of Cisco Systems in a research note on Tuesday, February 11th. They now have a $21.00 price target on the stock, down previously from $25.00. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus price target of $24.83.
Cisco Systems (NASDAQ:CSCO) opened at 22.05 on Monday. 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 $22.30 and its 200-day moving average is $22.81. The company has a market cap of $116.7 billion and a P/E ratio of 14.55.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 12th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. On average, analysts predict that Cisco Systems will post $1.99 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, April 23rd. Shareholders 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 3.43%. The ex-dividend date of this dividend is Tuesday, April 1st. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.17.
Cisco Systems, Inc (NASDAQ:CSCO) designs, manufactures, and sells Internet protocol (IP)-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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