Cisco Systems Short Interest Up 2.7% in June (CSCO)
Cisco Systems (NASDAQ:CSCO) saw a large growth in short interest in the month of June. As of June 13th, there was short interest totalling 67,655,214 shares, a growth of 2.7% from the May 30th total of 65,847,388 shares, American Banking News.com reports. Based on an average daily trading volume, of 24,962,703 shares, the days-to-cover ratio is presently 2.7 days. Approximately 1.3% of the company’s shares are short sold.
In other Cisco Systems news, Director John L. Hennessy sold 20,000 shares of the stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $24.72, for a total transaction of $494,400.00. The transaction was disclosed in a filing with the SEC, which is available at this link.
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 Friday. They now have a $26.00 price target on the stock. Separately, analysts at Buckingham Research initiated coverage on shares of Cisco Systems in a research note on Thursday, June 19th. They set a “neutral” rating and a $28.00 price target on the stock. Finally, analysts at Morgan Stanley initiated coverage on shares of Cisco Systems in a research note on Wednesday, June 18th. They set an “overweight” rating and a $30.00 price target on the stock. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $26.33.
Cisco Systems (NASDAQ:CSCO) opened at 24.72 on Monday. 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 $24.33 and its 200-day moving average is $22.74. The company has a market cap of $126.6 billion and a P/E ratio of 16.55.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.51 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.51 earnings per share. Cisco Systems’s revenue was down 5.5% compared to the same quarter last year. Analysts expect that Cisco Systems will post $2.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, July 23rd. Stockholders of record on Monday, July 7th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Wednesday, July 2nd.
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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