Cisco Systems, Inc. (CSCO) Expected to Post Quarterly Sales of $12.14 Billion
Equities research analysts expect Cisco Systems, Inc. (NASDAQ:CSCO) to announce sales of $12.14 billion for the current quarter, according to Zacks. Seven analysts have provided estimates for Cisco Systems’ earnings. The highest sales estimate is $12.17 billion and the lowest is $12.10 billion. Cisco Systems posted sales of $12.35 billion in the same quarter last year, which suggests a negative year over year growth rate of 1.7%. The business is expected to issue its next quarterly earnings results after the market closes on Wednesday, November 15th.
On average, analysts expect that Cisco Systems will report full year sales of $12.14 billion for the current financial year, with estimates ranging from $47.52 billion to $49.00 billion. For the next financial year, analysts anticipate that the firm will report sales of $49.18 billion per share, with estimates ranging from $47.73 billion to $50.97 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. Cisco Systems’s revenue was down 4.0% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share.
Several equities analysts have recently commented on CSCO shares. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the company a “hold” rating in a research note on Tuesday, August 15th. JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a research note on Friday, August 18th. Berenberg Bank reaffirmed a “hold” rating and issued a $33.00 price target on shares of Cisco Systems in a research note on Tuesday, October 24th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 price target on the stock in a research note on Thursday, July 6th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research note on Tuesday, August 8th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.30.
Shares of Cisco Systems (CSCO) opened at 34.04 on Tuesday. The company has a 50-day moving average price of $33.44 and a 200-day moving average price of $32.40. The company has a market capitalization of $168.56 billion, a P/E ratio of 17.92 and a beta of 1.21. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.73.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 3.41%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is 60.73%.
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In other news, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the sale, the chief executive officer now owns 552,694 shares in the company, valued at approximately $17,719,369.64. The disclosure for this sale can be found here. Insiders have sold 485,138 shares of company stock worth $15,347,574 in the last 90 days. Insiders own 0.05% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Perennial Advisors LLC boosted its holdings in Cisco Systems by 5.0% in the third quarter. Perennial Advisors LLC now owns 50,794 shares of the network equipment provider’s stock valued at $1,708,000 after acquiring an additional 2,405 shares during the last quarter. FineMark National Bank & Trust boosted its holdings in Cisco Systems by 2.2% in the third quarter. FineMark National Bank & Trust now owns 452,360 shares of the network equipment provider’s stock valued at $15,213,000 after acquiring an additional 9,763 shares during the last quarter. Canada Pension Plan Investment Board boosted its holdings in Cisco Systems by 10.7% in the third quarter. Canada Pension Plan Investment Board now owns 7,459,387 shares of the network equipment provider’s stock valued at $250,859,000 after acquiring an additional 723,100 shares during the last quarter. Hallmark Capital Management Inc. boosted its holdings in Cisco Systems by 1.5% in the third quarter. Hallmark Capital Management Inc. now owns 538,490 shares of the network equipment provider’s stock valued at $18,109,000 after acquiring an additional 8,125 shares during the last quarter. Finally, Investment House LLC boosted its holdings in Cisco Systems by 4.6% in the third quarter. Investment House LLC now owns 89,350 shares of the network equipment provider’s stock valued at $3,005,000 after acquiring an additional 3,950 shares during the last quarter. Hedge funds and other institutional investors own 75.24% 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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