Cisco Systems, Inc. (CSCO) Declares Quarterly Dividend of $0.19
Cisco Systems (NASDAQ:CSCO) declared a quarterly dividend on Friday, June 20th, Stock Ratings Network.com reports. Shareholders of record on Monday, July 7th will be given a dividend of 0.19 per share on Wednesday, July 23rd. This represents a $0.76 dividend on an annualized basis and a yield of 3.06%.
Several analysts have recently commented on the stock. Analysts at Buckingham Research initiated coverage on shares of Cisco Systems in a research note on Thursday. They set a “neutral” rating and a $28.00 price target on the stock. On the ratings front, analysts at Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Wednesday. They set an “overweight” rating and a $30.00 price target on the stock. Finally, analysts at Deutsche Bank upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, May 27th. They now have a $30.00 price target on the stock, up previously from $25.00. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-three have assigned a buy rating to the company. Cisco Systems currently has a consensus rating of “Buy” and an average target price of $26.28.
Cisco Systems (NASDAQ:CSCO) traded up 0.49% during mid-day trading on Friday, hitting $24.83. 39,707,996 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 $24.1 and its 200-day moving average is $22.63. The company has a market cap of $127.2 billion and a P/E ratio of 16.67.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly 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 $2.04 earnings per share for the current fiscal year.
In other Cisco Systems news, SVP Charles Robbins unloaded 27,858 shares of the company’s stock on the open market in a transaction dated Monday, June 16th. The shares were sold at an average price of $24.51, for a total value of $682,799.58. The sale was disclosed in a filing with the SEC, which is available at this link.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.