Cisco Systems Given AA Credit Rating by Morningstar (CSCO)
Cisco Systems (NASDAQ:CSCO) has earned an “AA” credit rating from Morningstar. The firm’s “AA” rating indicates that the company is a very-low default risk. They also issued a neutral credit outlook for the company and gave their stock a three star rating.
Several other analysts have also recently commented on the stock. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Cisco Systems in a research note on Friday, August 29th. 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 equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Hold” and an average price target of $26.60.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 24.91 on Friday. 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 $25.1 and its 200-day moving average is $23.86. The company has a market cap of $127.6 billion and a P/E ratio of 16.81. Cisco Systems also was the target 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. Based on an average daily trading volume, of 29,353,698 shares, the short-interest ratio is currently 2.2 days. Currently, 1.3% of the shares of the company are short sold.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 13th. The company reported $0.55 earnings per share for the quarter, beating the analysts’ 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. On average, analysts predict that Cisco Systems will post $2.16 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, October 22nd. Investors of record on Thursday, October 2nd will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.05%. The ex-dividend date of this dividend is Tuesday, September 30th.
In other Cisco Systems news, EVP Wim Elfrink sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was 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.
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.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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