Cisco Systems (CSCO) Posts Quarterly Earnings, Beats Estimates By $0.02 EPS
Cisco Systems (NASDAQ:CSCO) released its earnings data on Wednesday. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.53 by $0.02, Analyst Ratings Net reports. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $12.14 billion.
In other Cisco Systems news, EVP Pankaj Patel sold 100,000 shares of Cisco Systems stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $24.92, for a total transaction of $2,492,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.20% during mid-day trading on Wednesday, hitting $25.20. The stock had a trading volume of 42,731,576 shares. Cisco Systems has a 52 week low of $20.22 and a 52 week high of $26.45. The stock’s 50-day moving average is $25.31 and its 200-day moving average is $23.58. The company has a market cap of $129.1 billion and a P/E ratio of 16.97. Cisco Systems also was the recipient of some unusual options trading on Monday. Investors acquired 27,362 put options on the stock. This represents an increase of approximately 119% compared to the average daily volume of 12,486 put options.
Several analysts have recently commented on the stock. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of Cisco Systems in a research note on Monday. They now have a $20.50 price target on the stock, up previously from $18.00. On a related note, 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, August 5th. They now have an “outperform” rating on the stock. Finally, 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. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $26.35.
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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