Cisco Systems Sees Large Decline in Short Interest (CSCO)
Shares of Cisco Systems (NASDAQ:CSCO) were the recipient of a significant decrease in short interest during the month of August. As of August 15th, there was short interest totalling 63,934,683 shares, a decrease of 11.4% from the July 31st total of 72,138,151 shares, AnalystRatingsNetwork reports. Based on an average daily trading volume, of 29,353,698 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.3% of the company’s stock are short sold.
In other Cisco Systems news, EVP Wim Elfrink unloaded 25,000 shares of Cisco Systems stock on the open market in a transaction dated Friday, August 22nd. The shares were sold at an average price of $24.94, for a total transaction of $623,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Cisco Systems in a research note on Friday. They now have a $30.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Cisco Systems in a research note on Thursday, August 14th. They now have a $26.00 price target on the stock. Finally, analysts at Sterne Agee raised their price target on shares of Cisco Systems from $26.00 to $28.00 in a research note on Thursday, August 14th. They now have a “buy” rating on the stock. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $26.60.
Cisco Systems (NASDAQ:CSCO) opened at 24.99 on Tuesday. Cisco Systems has a 52 week low of $20.22 and a 52 week high of $26.08. The stock’s 50-day moving average is $25.2 and its 200-day moving average is $23.80. The company has a market cap of $128.0 billion and a price-to-earnings ratio of 16.68.
Cisco Systems (NASDAQ:CSCO) last released its earnings data on Wednesday, August 13th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. The company had revenue of $12.40 million for the quarter, compared to the consensus estimate of $12.14 billion. Analysts expect that Cisco Systems will post $2.16 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 22nd. Stockholders of record on Thursday, October 2nd will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.04%. The ex-dividend date is Tuesday, September 30th.
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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