Cisco Systems’ (CSCO) “Buy” Rating Reaffirmed at Deutsche Bank AG
Cisco Systems Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by equities research analysts at Deutsche Bank AG in a report released on Monday. They presently have a $37.00 target price on the network equipment provider’s stock. Deutsche Bank AG’s price objective points to a potential upside of 22.44% from the stock’s previous close.
A number of other equities research analysts have also recently issued reports on CSCO. Piper Jaffray Cos. upped their target price on Cisco Systems from $30.00 to $34.00 and gave the stock an “overweight” rating in a research report on Thursday, August 18th. Wunderlich reaffirmed a “hold” rating and set a $27.00 target price on shares of Cisco Systems in a research report on Thursday, August 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of Cisco Systems in a research report on Thursday, August 18th. Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $31.55 target price for the company. in a research report on Thursday, August 18th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $32.00 target price on shares of Cisco Systems in a research report on Thursday, August 18th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $32.50.
Cisco Systems (NASDAQ:CSCO) traded up 0.13% during mid-day trading on Monday, reaching $30.22. 13,894,527 shares of the company’s stock traded hands. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95. The firm’s 50-day moving average price is $31.29 and its 200 day moving average price is $29.51. The stock has a market capitalization of $151.53 billion, a PE ratio of 14.32 and a beta of 1.48.
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Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The firm had revenue of $12.60 billion for the quarter, compared to the consensus estimate of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The firm’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. Equities research analysts predict that Cisco Systems will post $2.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Monday, October 3rd. This represents a $1.04 annualized dividend and a yield of 3.44%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
In related news, SVP Mark D. Chandler sold 25,024 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the completion of the sale, the senior vice president now directly owns 229,905 shares in the company, valued at approximately $6,998,308.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven M. West sold 15,000 shares of the business’s stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total value of $453,000.00. Following the completion of the sale, the director now owns 26,804 shares of the company’s stock, valued at $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CSCO. Lowe FS increased its stake in Cisco Systems by 714.3% in the third quarter. Lowe FS now owns 570 shares of the network equipment provider’s stock worth $15,000 after buying an additional 500 shares during the last quarter. Proficio Capital Partners bought a new stake in Cisco Systems during the fourth quarter worth $31,000. Sun Life Financial INC bought a new stake in Cisco Systems during the first quarter worth $63,773,000. Orrstown Financial Services Inc. increased its stake in Cisco Systems by 89.3% in the third quarter. Orrstown Financial Services Inc. now owns 3,243 shares of the network equipment provider’s stock worth $103,000 after buying an additional 1,530 shares during the last quarter. Finally, Riggs Asset Managment Co. Inc. increased its stake in Cisco Systems by 6.7% in the second quarter. Riggs Asset Managment Co. Inc. now owns 3,570 shares of the network equipment provider’s stock worth $102,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 75.06% of the company’s stock.
Cisco Systems Company Profile
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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