Cisco Systems PT Raised to $27.00 at BMO Capital Markets (CSCO)
Equities researchers at BMO Capital Markets lifted their price target on shares of Cisco Systems (NASDAQ:CSCO) from $25.00 to $27.00 in a research report issued on Thursday, Stock Ratings News reports. BMO Capital Markets’ price objective suggests a potential upside of 18.37% from the company’s current price.
A number of other firms have also recently commented on CSCO. Analysts at Bank of America reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday. They now have a $28.00 price target on the stock, up previously from $25.00. Separately, analysts at Oppenheimer raised their price target on shares of Cisco Systems from $25.00 to $27.00 in a research note on Thursday. They now have an “outperform” rating on the stock. Finally, analysts at FBR Capital Markets raised their price target on shares of Cisco Systems from $19.00 to $23.00 in a research note on Thursday. They now have a “market perform” rating on the stock. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Hold” and an average price target of $25.46.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 7.99% during mid-day trading on Thursday, hitting $24.6325. The stock had a trading volume of 59,731,808 shares. Cisco Systems has a 1-year low of $20.22 and a 1-year high of $26.49. The stock’s 50-day moving average is $22.92 and its 200-day moving average is $22.20. The company has a market cap of $126.9 billion and a P/E ratio of 15.00. Cisco Systems also was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totalling 73,104,530 shares, a decrease of 3.2% from the April 15th total of 75,490,266 shares. Approximately 1.4% of the company’s shares are sold short. Based on an average trading volume of 31,120,368 shares, the short-interest ratio is presently 2.3 days.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 14th. The company reported $0.51 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.03. The company had revenue of $11.50 billion for the quarter, compared to the consensus estimate of $11.38 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company’s quarterly revenue was down 5.5% 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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