Brokerages Anticipate Cisco Systems, Inc. (CSCO) to Post $0.55 Earnings Per Share
Brokerages predict that Cisco Systems, Inc. (NASDAQ:CSCO) will post $0.55 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Cisco Systems’ earnings. The lowest EPS estimate is $0.54 and the highest is $0.56. Cisco Systems posted earnings of $0.58 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 5.2%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, August 16th.
According to Zacks, analysts expect that Cisco Systems will report full-year earnings of $2.15 per share for the current fiscal year, with EPS estimates ranging from $2.14 to $2.17. For the next fiscal year, analysts forecast that the company will post earnings of $2.21 per share, with EPS estimates ranging from $2.13 to $2.28. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that follow Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.02. The business had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. 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 earned $0.57 earnings per share.
Several brokerages have weighed in on CSCO. Berenberg Bank set a $33.00 price objective on Cisco Systems and gave the company a “hold” rating in a research note on Saturday. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Monday. Sanford C. Bernstein set a $38.00 price objective on Cisco Systems and gave the company a “buy” rating in a research note on Saturday. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $36.00 price objective on shares of Cisco Systems in a research note on Monday, June 26th. Finally, BidaskClub upgraded Cisco Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $35.32.
In other Cisco Systems news, SVP Karen Walker sold 7,802 shares of the business’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the completion of the sale, the senior vice president now owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in CSCO. Honkamp Krueger Financial Services Inc. ADV bought a new stake in shares of Cisco Systems during the fourth quarter valued at $1,245,000. Stockman Wealth Management Inc. increased its stake in shares of Cisco Systems by 2.5% in the fourth quarter. Stockman Wealth Management Inc. now owns 120,722 shares of the network equipment provider’s stock valued at $3,648,000 after buying an additional 2,900 shares during the last quarter. Abbrea Capital LLC bought a new stake in shares of Cisco Systems during the fourth quarter valued at $1,211,000. Van ECK Associates Corp increased its stake in shares of Cisco Systems by 7.1% in the fourth quarter. Van ECK Associates Corp now owns 61,753 shares of the network equipment provider’s stock valued at $1,866,000 after buying an additional 4,091 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Cisco Systems by 13.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 918,927 shares of the network equipment provider’s stock valued at $27,770,000 after buying an additional 107,324 shares during the last quarter. Hedge funds and other institutional investors own 75.37% of the company’s stock.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.10% during trading on Tuesday, reaching $31.33. 14,112,089 shares of the company were exchanged. The firm’s 50 day moving average price is $31.99 and its 200 day moving average price is $32.31. The company has a market capitalization of $156.65 billion, a PE ratio of 15.90 and a beta of 1.24. Cisco Systems has a one year low of $28.17 and a one year high of $34.60.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be given a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a yield of 3.70%. Cisco Systems’s payout ratio is 58.29%.
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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