Brokers Issue Forecasts for Cisco Systems, Inc.’s Q3 2018 Earnings (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) – Investment analysts at Oppenheimer Holdings raised their Q3 2018 earnings per share estimates for shares of Cisco Systems in a research note issued to investors on Wednesday. Oppenheimer Holdings analyst I. Kidron now forecasts that the network equipment provider will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.53. Oppenheimer Holdings currently has a “Outperform” rating and a $36.00 target price on the stock.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $12.13 billion for the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. The business’s revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.63 earnings per share. TRADEMARK VIOLATION NOTICE: “Brokers Issue Forecasts for Cisco Systems, Inc.’s Q3 2018 Earnings (CSCO)” was first posted by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of United States and international trademark and copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/08/21/brokers-issue-forecasts-for-cisco-systems-inc-s-q3-2018-earnings-csco.html.
A number of other brokerages also recently issued reports on CSCO. Instinet reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reissued a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price on the stock. in a research report on Wednesday, April 26th. Morgan Stanley raised shares of Cisco Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $33.45 to $39.00 in a research report on Monday, May 15th. Finally, Zacks Investment Research downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a research report on Monday, May 15th. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Cisco Systems presently has an average rating of “Buy” and an average price target of $35.47.
Cisco Systems (CSCO) opened at 30.37 on Monday. The company has a market cap of $151.64 billion, a P/E ratio of 15.98 and a beta of 1.24. Cisco Systems has a 52 week low of $29.12 and a 52 week high of $34.60. The stock has a 50 day moving average of $31.48 and a 200 day moving average of $32.55.
Several large investors have recently made changes to their positions in CSCO. Dodge & Cox purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $1,950,935,000. Norges Bank purchased a new stake in shares of Cisco Systems during the fourth quarter worth about $1,306,395,000. Boston Partners raised its stake 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 worth $1,033,052,000 after buying an additional 23,002,159 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Cisco Systems by 54.2% in the second quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock worth $449,544,000 after buying an additional 5,049,326 shares in the last quarter. 75.28% of the stock is owned by hedge funds and other institutional investors.
In related news, SVP Karen Walker sold 7,802 shares of the company’s stock in a transaction dated Tuesday, June 13th. The shares were 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 of the company’s stock, valued at $5,587,674.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction 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 approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock valued at $12,503,407 in the last three months. 0.11% of the stock is currently owned by insiders.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio is currently 60.73%.
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.