Cisco Systems, Inc. (CSCO) Rating Reiterated by Jefferies Group LLC
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group LLC in a research report issued to clients and investors on Friday. They currently have a $37.00 price target on the network equipment provider’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 17.46% from the stock’s current price.
A number of other equities analysts also recently issued reports on the company. Zacks Investment Research downgraded Cisco Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, April 18th. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $33.45 to $39.00 in a research note on Monday, May 15th. Deutsche Bank AG lifted their price target on Cisco Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 23rd. Vetr upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $37.32 price target for the company in a research note on Tuesday, April 11th. Finally, Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a research note on Saturday, April 22nd. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $35.19.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.19% on Friday, reaching $31.50. The company had a trading volume of 16,403,052 shares. The stock has a market cap of $157.66 billion, a PE ratio of 15.99 and a beta of 1.36. Cisco Systems has a 12 month low of $27.13 and a 12 month high of $34.60. The stock has a 50-day moving average price of $33.09 and a 200-day moving average price of $32.06.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The business had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Analysts predict that Cisco Systems will post $2.38 earnings per share for the current fiscal year.
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In other Cisco Systems news, SVP Mark D. Chandler sold 16,000 shares of the company’s 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders sold 327,209 shares of company stock valued at $10,397,046 over the last quarter. 0.11% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. Edmond DE Rothschild Monaco acquired a new stake in Cisco Systems during the third quarter valued at about $111,000. Seven Eight Capital LP acquired a new stake in Cisco Systems during the fourth quarter valued at about $112,000. Financial Management Professionals Inc. raised its stake in Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock valued at $118,000 after buying an additional 635 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new stake in Cisco Systems during the fourth quarter valued at about $128,000. Finally, Jackson Grant Investment Advisers Inc. raised its stake in Cisco Systems by 4,150.0% in the fourth quarter. Jackson Grant Investment Advisers Inc. now owns 4,250 shares of the network equipment provider’s stock valued at $128,000 after buying an additional 4,150 shares during the last quarter. Institutional investors and hedge funds own 75.24% of the company’s stock.
About Cisco Systems
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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