Cisco Systems, Inc. (CSCO) Given a $33.00 Price Target at Berenberg Bank
Cisco Systems, Inc. (NASDAQ:CSCO) has been given a $33.00 price objective by equities researchers at Berenberg Bank in a report released on Thursday. The firm currently has a “hold” rating on the network equipment provider’s stock. Berenberg Bank’s price target suggests a potential upside of 6.31% from the stock’s previous close.
CSCO has been the topic of a number of other research reports. Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research note on Thursday, May 18th. Drexel Hamilton restated a “buy” rating and set a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, May 23rd. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Monday, June 26th. Piper Jaffray Companies restated a “buy” rating and set a $36.00 price target on shares of Cisco Systems in a research note on Thursday. Finally, Jefferies Group LLC restated a “buy” rating and set a $37.00 price target on shares of Cisco Systems in a research note on Wednesday, April 26th. Fourteen research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.38.
Cisco Systems (NASDAQ:CSCO) traded down 1.80% during midday trading on Thursday, reaching $30.48. 25,466,949 shares of the company were exchanged. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The firm has a market capitalization of $152.19 billion, a PE ratio of 16.04 and a beta of 1.24. The company has a 50-day moving average of $31.51 and a 200 day moving average of $32.56. Cisco Systems also was the target of unusually large options trading on Tuesday. Stock investors acquired 24,568 put options on the company. 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 $0.61 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 17.04% and a net margin of 20.02%. The business had revenue of $12.13 billion for the quarter, compared to analyst estimates of $12.07 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down 4.0% on a year-over-year basis. Equities analysts predict that Cisco Systems will post $2.45 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: “Cisco Systems, Inc. (CSCO) Given a $33.00 Price Target at Berenberg Bank” was published by American Banking News and is owned by of American Banking News. If you are accessing this piece on another site, it was illegally copied and republished in violation of U.S. and international trademark & copyright legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2017/08/18/cisco-systems-inc-csco-given-a-33-00-price-target-at-berenberg-bank.html.
In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was 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 directly owns 271,725 shares of the company’s stock, valued at $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 over the last ninety days. Corporate insiders own 0.11% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. First Hawaiian Bank bought a new stake in shares of Cisco Systems during the first quarter worth about $215,000. Syntal Capital Partners LLC bought a new stake in shares of Cisco Systems during the first quarter worth about $257,000. Dodge & Cox bought a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Hefty Wealth Partners increased its stake in shares of Cisco Systems by 15,679.3% in the first quarter. Hefty Wealth Partners now owns 68,482 shares of the network equipment provider’s stock worth $2,314,000 after buying an additional 68,048 shares during the period. Finally, Atlas Brown Inc. increased its stake in shares of Cisco Systems by 4.6% in the second quarter. Atlas Brown Inc. now owns 9,777 shares of the network equipment provider’s stock worth $306,000 after buying an additional 430 shares during the period. 75.28% of the stock is owned by institutional investors and hedge funds.
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).
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.