$777.62 Million in Sales Expected for Citrix Systems, Inc. (CTXS) This Quarter
Wall Street brokerages forecast that Citrix Systems, Inc. (NASDAQ:CTXS) will report $777.62 million in sales for the current fiscal quarter, according to Zacks. Nine analysts have made estimates for Citrix Systems’ earnings. The highest sales estimate is $779.70 million and the lowest is $775.65 million. Citrix Systems reported sales of $908.36 million in the same quarter last year, which indicates a negative year over year growth rate of 14.4%. The business is scheduled to report its next quarterly earnings report on Wednesday, January 24th.
On average, analysts expect that Citrix Systems will report full-year sales of $777.62 million for the current year, with estimates ranging from $2.82 billion to $2.83 billion. For the next financial year, analysts anticipate that the firm will report sales of $2.89 billion per share, with estimates ranging from $2.86 billion to $3.08 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last announced its quarterly earnings data on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.18. The firm had revenue of $691.00 million during the quarter, compared to analyst estimates of $691.61 million. Citrix Systems had a return on equity of 31.32% and a net margin of 15.67%. Citrix Systems’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.32 earnings per share.
CTXS has been the subject of several recent research reports. Citigroup Inc. lowered their target price on Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a report on Friday, October 27th. KeyCorp reaffirmed a “hold” rating on shares of Citrix Systems in a report on Friday. MKM Partners reaffirmed a “buy” rating and set a $90.00 target price (down from $95.00) on shares of Citrix Systems in a report on Wednesday, August 9th. Barclays PLC reaffirmed an “overweight” rating and set a $90.00 target price (up from $87.00) on shares of Citrix Systems in a report on Thursday, August 3rd. Finally, Goldman Sachs Group, Inc. (The) upgraded Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 price objective for the company in a research report on Friday, November 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $89.50.
Shares of Citrix Systems (CTXS) opened at $84.22 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.44 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $12,689.85, a PE ratio of 20.49, a P/E/G ratio of 4.02 and a beta of 1.39. Citrix Systems has a fifty-two week low of $66.28 and a fifty-two week high of $87.99.
In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $84.25, for a total transaction of $1,053,125.00. Following the sale, the chief executive officer now directly owns 306,777 shares of the company’s stock, valued at approximately $25,845,962.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Mark M. Coyle sold 2,500 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $84.32, for a total transaction of $210,800.00. Following the sale, the chief financial officer now directly owns 38,512 shares in the company, valued at $3,247,331.84. The disclosure for this sale can be found here. 0.44% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its stake in Citrix Systems by 22.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,100,626 shares of the cloud computing company’s stock valued at $87,588,000 after purchasing an additional 200,291 shares during the period. BT Investment Management Ltd increased its stake in shares of Citrix Systems by 11.7% in the third quarter. BT Investment Management Ltd now owns 1,314,871 shares of the cloud computing company’s stock worth $101,020,000 after acquiring an additional 138,032 shares during the last quarter. Artemis Investment Management LLP acquired a new position in shares of Citrix Systems in the second quarter worth $9,003,000. Profit Investment Management LLC increased its stake in shares of Citrix Systems by 43.4% in the third quarter. Profit Investment Management LLC now owns 16,092 shares of the cloud computing company’s stock worth $1,236,000 after acquiring an additional 4,867 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of Citrix Systems by 14.4% in the second quarter. Dimensional Fund Advisors LP now owns 544,857 shares of the cloud computing company’s stock worth $43,360,000 after acquiring an additional 68,506 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.
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Citrix Systems Company Profile
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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