Stock Traders Purchase High Volume of Cisco Systems Put Options (CSCO)
Cisco Systems (NASDAQ:CSCO) was the recipient of unusually large options trading activity on Tuesday. Traders purchased 49,523 put options on the stock, Stock Ratings News reports. This is an increase of 327% compared to the typical volume of 11,602 put options.
A number of analysts have recently weighed in on CSCO shares. Analysts at RBC Capital raised their price target on shares of Cisco Systems from $22.00 to $23.00 in a research note on Tuesday. Separately, analysts at MKM Partners raised their price target on shares of Cisco Systems from $24.00 to $26.00 in a research note on Monday. They now have a “neutral” rating on the stock. Finally, analysts at Credit Suisse reiterated an “underperform” rating on shares of Cisco Systems in a research note on Monday. They now have a $20.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Cisco Systems has an average rating of “Hold” and an average target price of $24.12.
Shares of Cisco Systems (NASDAQ:CSCO) traded down 1.42% on Tuesday, hitting $22.86. 57,920,384 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $20.22 and a 52-week high of $26.49. The stock’s 50-day moving average is $22.8 and its 200-day moving average is $22.20. The company has a market cap of $117.8 billion and a P/E ratio of 15.25.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data 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.
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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