Zacks: Brokerages Anticipate Citrix Systems, Inc. (CTXS) Will Post Quarterly Sales of $691.06 Million
Wall Street brokerages predict that Citrix Systems, Inc. (NASDAQ:CTXS) will announce sales of $691.06 million for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Citrix Systems’ earnings. The lowest sales estimate is $689.80 million and the highest is $693.00 million. Citrix Systems posted sales of $841.25 million during the same quarter last year, which suggests a negative year-over-year growth rate of 17.9%. The company is expected to report its next quarterly earnings report on Wednesday, October 18th.
On average, analysts expect that Citrix Systems will report full year sales of $691.06 million for the current financial year. For the next financial year, analysts forecast that the company will report sales of $2.94 billion per share, with estimates ranging from $2.87 billion to $3.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Wednesday, August 2nd. The cloud computing company reported $0.83 EPS for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $693.00 million during the quarter, compared to analysts’ expectations of $690.83 million. Citrix Systems had a return on equity of 31.07% and a net margin of 15.08%. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 EPS.
Several research firms have commented on CTXS. Stifel Nicolaus reiterated a “hold” rating and set a $77.00 price objective on shares of Citrix Systems in a research note on Wednesday, August 9th. Barclays PLC restated an “overweight” rating and issued a $90.00 price target (up from $87.00) on shares of Citrix Systems in a research report on Wednesday, August 9th. MKM Partners restated a “buy” rating and issued a $90.00 price target (down from $95.00) on shares of Citrix Systems in a research report on Wednesday, August 9th. Royal Bank Of Canada reiterated a “hold” rating and issued a $85.00 price objective on shares of Citrix Systems in a report on Monday, July 31st. Finally, Jefferies Group LLC reiterated a “sell” rating and issued a $61.00 price objective on shares of Citrix Systems in a report on Friday, August 11th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have issued a buy rating to the company’s stock. Citrix Systems currently has a consensus rating of “Hold” and an average price target of $89.25.
Citrix Systems (CTXS) traded down 0.54% during mid-day trading on Friday, hitting $76.22. The company had a trading volume of 2,891,393 shares. The firm has a market capitalization of $11.55 billion, a P/E ratio of 25.68 and a beta of 1.48. The company has a 50-day moving average price of $76.56 and a 200 day moving average price of $80.82. Citrix Systems has a 12 month low of $64.79 and a 12 month high of $87.99.
Several institutional investors have recently modified their holdings of the company. Fifth Third Bancorp grew its position in shares of Citrix Systems by 10.3% during the 1st quarter. Fifth Third Bancorp now owns 1,825 shares of the cloud computing company’s stock valued at $152,000 after buying an additional 171 shares during the last quarter. Greenwood Capital Associates LLC bought a new position in Citrix Systems in the 1st quarter worth about $200,000. ZWJ Investment Counsel Inc. bought a new position in Citrix Systems in the 1st quarter worth about $225,000. Colony Group LLC bought a new position in Citrix Systems in the 2nd quarter worth about $228,000. Finally, New Amsterdam Partners LLC NY bought a new position in Citrix Systems in the 2nd quarter worth about $231,000. Institutional investors and hedge funds own 93.63% of the company’s stock.
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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