Cisco Systems, Inc. (CSCO) Earns Buy Rating from Drexel Hamilton
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reissued by investment analysts at Drexel Hamilton in a report issued on Tuesday. They presently have a $40.00 target price on the network equipment provider’s stock. Drexel Hamilton’s target price points to a potential upside of 26.98% from the company’s current price.
Several other brokerages have also issued reports on CSCO. BMO Capital Markets lowered Cisco Systems from an “outperform” rating to a “market perform” rating and cut their price target for the company from $37.00 to $35.00 in a research note on Tuesday, May 9th. Vetr raised Cisco Systems from a “sell” rating to a “hold” rating and set a $34.51 price target on the stock in a research note on Monday, March 20th. Deutsche Bank AG upped 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. Sanford C. Bernstein set a $37.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Thursday, February 23rd. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a research note on Monday, May 1st. 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. Cisco Systems presently has a consensus rating of “Buy” and a consensus price target of $35.19.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.19% during midday trading on Tuesday, reaching $31.50. 16,403,052 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $33.09 and its 200 day moving average price is $32.06. The firm has a market capitalization of $157.50 billion, a P/E ratio of 15.99 and a beta of 1.36. Cisco Systems has a 52-week low of $27.13 and a 52-week high of $34.60.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The business had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. On average, equities research analysts anticipate that Cisco Systems will post $2.38 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This article was originally reported by American Banking News and is the sole property of of American Banking News. If you are reading this article on another site, it was illegally stolen and reposted in violation of US and international copyright law. The original version of this article can be read at https://www.americanbankingnews.com/2017/05/27/cisco-systems-inc-csco-earns-buy-rating-from-drexel-hamilton.html.
In related news, SVP Prat Bhatt sold 15,672 shares of Cisco Systems stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $34.27, for a total transaction of $537,079.44. Following the completion of the sale, the senior vice president now directly owns 77,174 shares of the company’s stock, valued at approximately $2,644,752.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John T. Chambers sold 295,537 shares of Cisco Systems stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 327,209 shares of company stock valued at $10,397,046. 0.11% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in shares of Cisco Systems by 2,421.0% in the first quarter. BlackRock Inc. now owns 339,316,584 shares of the network equipment provider’s stock valued at $11,468,902,000 after buying an additional 325,856,721 shares in the last quarter. Dodge & Cox bought a new position in shares of Cisco Systems during the fourth quarter valued at $1,950,935,000. Norges Bank bought a new position in shares of Cisco Systems during the fourth quarter valued at $1,306,395,000. Boston Partners boosted its position in shares of Cisco Systems by 304.2% in the first quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after buying an additional 23,002,159 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Cisco Systems by 3.3% in the first quarter. Vanguard Group Inc. now owns 344,708,803 shares of the network equipment provider’s stock valued at $11,651,157,000 after buying an additional 10,974,259 shares in the last quarter. 75.24% of the stock is owned by institutional investors and hedge funds.
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).
Receive News & Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.