Cisco Systems Price Target Increased to $29.00 by Analysts at Cantor Fitzgerald (CSCO)
Cantor Fitzgerald hoisted their price target on shares of Cisco Systems (NASDAQ:CSCO) to $29.00 in a research note issued on Tuesday. Cantor Fitzgerald’s price target would indicate a potential upside of 14.94% from the company’s current price.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Friday, June 27th. 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 given a hold rating and twenty-one have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $26.33.
Cisco Systems (NASDAQ:CSCO) traded up 0.10% on Tuesday, hitting $25.255. 4,990,790 shares of the company’s stock traded hands. Cisco Systems has a one year low of $20.22 and a one year high of $26.49. The stock’s 50-day moving average is $24.71 and its 200-day moving average is $22.98. The company has a market cap of $129.4 billion and a P/E ratio of 17.02.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.51 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts expect that Cisco Systems will post $2.04 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, July 23rd. Shareholders of record on Monday, July 7th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.01%. The ex-dividend date 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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