Cisco Systems (CSCO) Stock Rating Reaffirmed by KeyCorp

Cisco Systems (NASDAQ:CSCO)‘s stock had its “overweight” rating reiterated by equities researchers at KeyCorp in a note issued to investors on Friday, Marketbeat reports. They currently have a $43.00 price objective on the network equipment provider’s stock, up from their previous price objective of $39.00. KeyCorp’s target price indicates a potential upside of 4.14% from the stock’s previous close.

Several other analysts also recently commented on the stock. Oppenheimer reiterated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Tuesday, October 31st. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $35.78 price target for the company. in a research report on Friday, November 17th. Cowen reiterated a “buy” rating on shares of Cisco Systems in a research report on Friday, November 17th. Deutsche Bank reiterated a “buy” rating and issued a $45.00 price target (up previously from $40.00) on shares of Cisco Systems in a research report on Thursday, November 16th. Finally, Royal Bank of Canada upped their price target on shares of Cisco Systems to $40.00 and gave the company an “outperform” rating in a research report on Thursday, November 16th. Thirteen research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. Cisco Systems has a consensus rating of “Buy” and an average price target of $38.80.

Cisco Systems (NASDAQ:CSCO) opened at $41.29 on Friday. Cisco Systems has a twelve month low of $30.00 and a twelve month high of $41.52. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The stock has a market cap of $204,122.16, a price-to-earnings ratio of 21.39, a PEG ratio of 3.73 and a beta of 1.20.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter in the prior year, the firm earned $0.61 EPS. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. sell-side analysts expect that Cisco Systems will post 2.21 earnings per share for the current year.

In related news, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares in the company, valued at $9,892,227.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in CSCO. Barnett & Company Inc. boosted its stake in shares of Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after purchasing an additional 3,023 shares during the last quarter. Stonehearth Capital Management LLC acquired a new stake in shares of Cisco Systems during the 4th quarter worth about $102,000. Tortoise Investment Management LLC boosted its stake in shares of Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after purchasing an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Cisco Systems during the 2nd quarter worth about $104,000. Finally, Grove Bank & Trust boosted its stake in shares of Cisco Systems by 141.3% during the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 2,120 shares during the last quarter. 75.60% of the stock is currently owned by institutional investors.

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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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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