Cisco Systems, Inc. (CSCO) Rating Reiterated by Citigroup Inc
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating restated by Citigroup Inc in a note issued to investors on Friday. They currently have a $36.00 price target on the network equipment provider’s stock, down from their previous price target of $37.00. Citigroup Inc’s price target would indicate a potential upside of 15.35% from the company’s current price.
A number of other equities analysts have also commented on CSCO. Wunderlich reiterated a “hold” rating and issued a $27.00 price objective on shares of Cisco Systems in a research note on Thursday, February 16th. Drexel Hamilton reiterated a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research note on Tuesday. Royal Bank of Canada reiterated an “outperform” rating and issued a $36.00 price objective (down from $37.00) on shares of Cisco Systems in a research note on Friday, May 12th. Raymond James Financial, Inc. reiterated an “outperform” rating on shares of Cisco Systems in a research note on Friday, February 17th. Finally, BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $37.00 to $35.00 in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Cisco Systems has an average rating of “Buy” and a consensus target price of $35.09.
Cisco Systems (NASDAQ:CSCO) opened at 31.21 on Friday. The stock has a market cap of $156.21 billion, a P/E ratio of 15.84 and a beta of 1.36. Cisco Systems has a one year low of $27.13 and a one year high of $34.60. The company has a 50-day moving average price of $33.35 and a 200-day moving average price of $32.03.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.57 earnings per share. On average, analysts anticipate that Cisco Systems will post $2.38 earnings per share for the current year.
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In other news, SVP Mark D. Chandler sold 16,000 shares of the stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $34.04, for a total transaction of $544,640.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prat Bhatt sold 15,672 shares of the stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $34.27, for a total transaction of $537,079.44. Following the transaction, the senior vice president now owns 77,174 shares of the company’s stock, valued at $2,644,752.98. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 371,807 shares of company stock valued at $12,668,893. Company insiders own 0.11% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Watch Point Trust Co increased its stake in shares of Cisco Systems by 3.0% in the third quarter. Watch Point Trust Co now owns 38,856 shares of the network equipment provider’s stock valued at $1,233,000 after buying an additional 1,115 shares during the period. Navellier & Associates Inc increased its stake in shares of Cisco Systems by 15.5% in the third quarter. Navellier & Associates Inc now owns 76,574 shares of the network equipment provider’s stock valued at $2,429,000 after buying an additional 10,292 shares during the period. Murphy Capital Management Inc. increased its stake in shares of Cisco Systems by 2.1% in the third quarter. Murphy Capital Management Inc. now owns 39,572 shares of the network equipment provider’s stock valued at $1,255,000 after buying an additional 811 shares during the period. Rosenbaum Jay D. purchased a new stake in shares of Cisco Systems during the third quarter valued at about $385,000. Finally, Ferguson Wellman Capital Management Inc. increased its stake in shares of Cisco Systems by 33.7% in the third quarter. Ferguson Wellman Capital Management Inc. now owns 1,861,345 shares of the network equipment provider’s stock valued at $59,042,000 after buying an additional 469,129 shares during the period. Institutional investors own 75.24% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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