Cisco Systems Given Consensus Rating of “Buy” by Brokerages (NASDAQ:CSCO)
Shares of Cisco Systems (NASDAQ:CSCO) have earned an average recommendation of “Buy” from the forty-one brokerages that are currently covering the stock, American Banking & Market News reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $26.51.
Cisco Systems (NASDAQ:CSCO) traded up 0.07% on Friday, hitting $24.8775. 2,518,898 shares of the company’s stock traded hands. Cisco Systems has a one year low of $20.22 and a one year high of $26.48. The stock has a 50-day moving average of $25.26 and a 200-day moving average of $23.51. The company has a market cap of $127.4 billion and a P/E ratio of 16.77.
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 $2.04 earnings per share for the current fiscal year.
A number of analysts have recently weighed in on CSCO shares. Analysts at Robert W. Baird raised their price target on shares of Cisco Systems from $27.00 to $29.00 in a research note on Tuesday. They now have an “outperform” rating on the stock. Separately, analysts at Pacific Crest downgraded shares of Cisco Systems from an “outperform” rating to a “sector perform” rating in a research note on Monday, July 28th. They now have a $26.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of Cisco Systems from $24.00 to $28.00 in a research note on Monday, July 21st. They now have an “outperform” rating on the stock.
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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