Deutsche Bank AG Reiterates “Buy” Rating for Cisco Systems Inc. (CSCO)
Cisco Systems Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reissued by research analysts at Deutsche Bank AG in a note issued to investors on Monday. They presently have a $37.00 target price on the network equipment provider’s stock. Deutsche Bank AG’s price objective suggests a potential upside of 22.44% from the stock’s current price.
Several other brokerages have also commented on CSCO. RBC Capital Markets reissued an “outperform” rating and issued a $35.00 price objective on shares of Cisco Systems in a report on Sunday, September 4th. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price objective on the stock. in a report on Monday, September 5th. Raymond James Financial Inc. raised their price objective on Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, September 23rd. JMP Securities reissued a “market perform” rating on shares of Cisco Systems in a report on Wednesday, October 5th. Finally, Jefferies Group reissued a “buy” rating and issued a $35.00 price objective on shares of Cisco Systems in a report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $32.50.
Cisco Systems (NASDAQ:CSCO) traded up 0.13% during mid-day trading on Monday, reaching $30.22. The company had a trading volume of 13,901,737 shares. The stock has a market capitalization of $151.53 billion, a price-to-earnings ratio of 14.32 and a beta of 1.48. The stock has a 50 day moving average of $31.29 and a 200 day moving average of $29.51. Cisco Systems has a 52 week low of $22.46 and a 52 week high of $31.95.
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Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03. The company earned $12.60 billion during the quarter, compared to analysts’ expectations of $12.57 billion. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. During the same period last year, the business earned $0.59 earnings per share. Cisco Systems’s quarterly revenue was down 1.6% on a year-over-year basis. Analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.06%.
In other Cisco Systems news, Director Steven M. West sold 15,000 shares of the stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $30.20, for a total transaction of $453,000.00. Following the sale, the director now owns 26,804 shares in the company, valued at approximately $809,480.80. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Mark D. Chandler sold 62,910 shares of the stock in a transaction on Friday, September 23rd. The shares were sold at an average price of $31.40, for a total value of $1,975,374.00. Following the sale, the senior vice president now owns 286,628 shares in the company, valued at approximately $9,000,119.20. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. boosted 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 valued at $102,000 after buying an additional 225 shares during the period. Orrstown Financial Services Inc. boosted 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 valued at $103,000 after buying an additional 1,530 shares during the period. Lenox Wealth Management Inc. boosted its stake in Cisco Systems by 35.0% in the second quarter. Lenox Wealth Management Inc. now owns 3,835 shares of the network equipment provider’s stock valued at $110,000 after buying an additional 995 shares during the period. Global X Management Co. LLC boosted its stake in Cisco Systems by 101.9% in the second quarter. Global X Management Co. LLC now owns 4,244 shares of the network equipment provider’s stock valued at $122,000 after buying an additional 2,142 shares during the period. Finally, Financial Management Professionals Inc. boosted its stake in Cisco Systems by 25.7% in the second quarter. Financial Management Professionals Inc. now owns 4,389 shares of the network equipment provider’s stock valued at $125,000 after buying an additional 896 shares during the period. Hedge funds and other institutional investors 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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