Cisco Systems, Inc. (CSCO) Earns “Overweight” Rating from Morgan Stanley
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a research note issued to investors on Thursday. They currently have a $39.00 price objective on the network equipment provider’s stock. Morgan Stanley’s price target indicates a potential upside of 20.59% from the company’s current price.
The analysts wrote, “ho-hum”
Other equities analysts also recently issued research reports about the stock. Citigroup Inc. set a $36.00 price target on shares of Cisco Systems and gave the stock a “buy” rating in a report on Friday, May 19th. Sanford C. Bernstein set a $38.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Saturday, July 1st. Berenberg Bank set a $33.00 price objective on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Saturday, July 1st. Stifel Nicolaus set a $34.00 price objective on shares of Cisco Systems and gave the stock a “hold” rating in a research note on Tuesday. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $39.00 price objective on shares of Cisco Systems in a research note on Wednesday. Fourteen equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.38.
Cisco Systems (NASDAQ:CSCO) traded down 3.912% on Thursday, reaching $31.075. 9,586,465 shares of the company’s stock traded hands. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. The stock has a market cap of $155.38 billion, a price-to-earnings ratio of 15.774 and a beta of 1.24. The company’s 50 day moving average is $31.54 and its 200-day moving average is $32.57. Cisco Systems also saw unusually large options trading activity on Tuesday. Stock investors acquired 24,568 put options on the stock. This represents an increase of approximately 223% compared to the typical daily volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.55 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.61 by $0.06. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The business had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same quarter last year, the company posted $0.63 EPS. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. Equities analysts expect that Cisco Systems will post $2.38 EPS for the current year.
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In related 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 transaction 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the business’s 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. Insiders sold a total of 396,179 shares of company stock valued at $12,503,407 in the last quarter. Company insiders own 0.11% of the company’s stock.
Large investors have recently bought and sold shares of the company. Sowell Financial Services LLC acquired a new stake in Cisco Systems during the fourth quarter valued at $3,033,000. Assenagon Asset Management S.A. purchased a new stake in shares of Cisco Systems during the fourth quarter worth $907,000. SNS Financial Group LLC boosted its stake in shares of Cisco Systems by 15.2% in the fourth quarter. SNS Financial Group LLC now owns 94,736 shares of the network equipment provider’s stock worth $2,863,000 after buying an additional 12,465 shares in the last quarter. AE Wealth Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $1,042,000. Finally, I.G. Investment Management LTD. boosted its stake in shares of Cisco Systems by 30.1% in the fourth quarter. I.G. Investment Management LTD. now owns 4,400,531 shares of the network equipment provider’s stock worth $132,984,000 after buying an additional 1,018,083 shares in the last quarter. Hedge funds and other institutional investors own 75.28% 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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