Zacks: Analysts Anticipate Citrix Systems, Inc. (CTXS) Will Announce Earnings of $0.85 Per Share
Wall Street brokerages expect Citrix Systems, Inc. (NASDAQ:CTXS) to announce $0.85 earnings per share for the current quarter, Zacks reports. Seven analysts have made estimates for Citrix Systems’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.90. Citrix Systems reported earnings of $0.99 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 14.1%. The business is expected to announce its next quarterly earnings report on Tuesday, July 25th.
On average, analysts expect that Citrix Systems will report full-year earnings of $3.91 per share for the current year, with EPS estimates ranging from $3.87 to $3.94. For the next financial year, analysts forecast that the firm will report earnings of $4.29 per share, with EPS estimates ranging from $4.10 to $4.50. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Wednesday, April 26th. The cloud computing company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.10. Citrix Systems had a return on equity of 31.02% and a net margin of 14.75%. The company had revenue of $662.70 million for the quarter, compared to analyst estimates of $664.16 million. During the same period in the previous year, the company posted $1.18 EPS. The firm’s revenue for the quarter was up .6% compared to the same quarter last year.
Several brokerages have recently issued reports on CTXS. Mizuho lifted their target price on Citrix Systems from $85.00 to $94.00 and gave the stock an “outperform” rating in a report on Tuesday, March 14th. Cowen and Company reaffirmed a “fair value” rating and issued a $100.00 target price on shares of Citrix Systems in a report on Tuesday, March 14th. MKM Partners lifted their target price on Citrix Systems from $95.00 to $105.00 and gave the stock a “buy” rating in a report on Tuesday, April 25th. Robert W. Baird raised Citrix Systems from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $85.00 to $90.00 in a report on Thursday, April 27th. Finally, Zacks Investment Research raised Citrix Systems from a “sell” rating to a “hold” rating in a report on Tuesday, March 28th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $92.80.
In related news, Director Murray J. Demo sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 29th. The stock was sold at an average price of $83.55, for a total value of $83,550.00. Following the completion of the sale, the director now owns 8,606 shares in the company, valued at $719,031.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Timothy A. Minahan sold 1,753 shares of the business’s stock in a transaction that occurred on Monday, April 3rd. The shares were sold at an average price of $83.54, for a total value of $146,445.62. Following the completion of the sale, the chief marketing officer now owns 64,271 shares of the company’s stock, valued at approximately $5,369,199.34. The disclosure for this sale can be found here. 0.44% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. Quadrant Capital Group LLC raised its stake in shares of Citrix Systems by 2.6% in the first quarter. Quadrant Capital Group LLC now owns 1,396 shares of the cloud computing company’s stock worth $113,000 after buying an additional 35 shares during the last quarter. YorkBridge Wealth Partners LLC raised its stake in shares of Citrix Systems by 75.5% in the first quarter. YorkBridge Wealth Partners LLC now owns 1,562 shares of the cloud computing company’s stock worth $127,000 after buying an additional 672 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Citrix Systems by 10.3% in the first quarter. Fifth Third Bancorp now owns 1,825 shares of the cloud computing company’s stock worth $152,000 after buying an additional 171 shares during the last quarter. Greenwood Capital Associates LLC purchased a new stake in shares of Citrix Systems during the first quarter worth about $200,000. Finally, ZWJ Investment Counsel Inc. purchased a new stake in shares of Citrix Systems during the first quarter worth about $225,000. Hedge funds and other institutional investors own 97.75% of the company’s stock.
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Citrix Systems (NASDAQ:CTXS) opened at 81.18 on Friday. The company’s 50-day moving average price is $83.23 and its 200 day moving average price is $79.22. The stock has a market capitalization of $12.27 billion, a PE ratio of 26.72 and a beta of 1.55. Citrix Systems has a 52-week low of $60.65 and a 52-week high of $87.99.
About Citrix Systems
Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.
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