Citrix Systems, Inc. (CTXS) Expected to Post Quarterly Sales of $777.62 Million

Brokerages expect Citrix Systems, Inc. (NASDAQ:CTXS) to report sales of $777.62 million for the current quarter, Zacks Investment Research reports. Nine analysts have issued estimates for Citrix Systems’ earnings, with estimates ranging from $775.65 million to $779.70 million. Citrix Systems posted sales of $908.36 million in the same quarter last year, which suggests a negative year-over-year growth rate of 14.4%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, January 31st.

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 forecast that the company will report sales of $2.89 billion per share, with estimates ranging from $2.86 billion to $3.08 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, October 25th. The cloud computing company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.18. Citrix Systems had a net margin of 15.67% and a return on equity of 31.32%. The business had revenue of $691.00 million during the quarter, compared to the consensus estimate of $691.61 million. During the same period last year, the business posted $1.32 EPS. Citrix Systems’s revenue was up 3.3% on a year-over-year basis.

Several equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Citrix Systems from a “sell” rating to a “hold” rating in a research report on Saturday. Mizuho restated a “buy” rating and set a $94.00 price objective (up from $92.00) on shares of Citrix Systems in a research report on Wednesday, October 25th. Robert W. Baird restated a “buy” rating on shares of Citrix Systems in a research report on Thursday, January 4th. Cowen downgraded shares of Citrix Systems from an “outperform” rating to a “market perform” rating and raised their price objective for the stock from $90.00 to $93.00 in a research report on Thursday, January 11th. They noted that the move was a valuation call. Finally, Zacks Investment Research upgraded shares of Citrix Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $89.50.

Shares of Citrix Systems (NASDAQ CTXS) opened at $92.72 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.43 and a debt-to-equity ratio of 0.69. The stock has a market cap of $13,768.72, a P/E ratio of 31.43, a price-to-earnings-growth ratio of 4.51 and a beta of 1.40. Citrix Systems has a 1 year low of $70.24 and a 1 year high of $92.87.

Citrix Systems announced that its board has authorized a share repurchase plan on Monday, November 13th that allows the company to repurchase $1.70 billion in shares. This repurchase authorization allows the cloud computing company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

In related news, insider Robert Calderoni sold 60,000 shares of Citrix Systems stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $85.61, for a total value of $5,136,600.00. Following the transaction, the insider now directly owns 178,706 shares of the company’s stock, valued at $15,299,020.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Rotterdam Jeroen Van sold 8,530 shares of Citrix Systems stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $84.58, for a total transaction of $721,467.40. Following the completion of the transaction, the senior vice president now directly owns 67,122 shares in the company, valued at $5,677,178.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 98,530 shares of company stock valued at $8,448,117. 0.44% of the stock is owned by company insiders.

A number of large investors have recently made changes to their positions in CTXS. LSV Asset Management bought a new position in Citrix Systems in the second quarter valued at approximately $851,000. Ameriprise Financial Inc. increased its stake in Citrix Systems by 10.1% in the second quarter. Ameriprise Financial Inc. now owns 422,841 shares of the cloud computing company’s stock valued at $33,641,000 after acquiring an additional 38,817 shares during the last quarter. Amalgamated Bank increased its stake in Citrix Systems by 50.4% in the second quarter. Amalgamated Bank now owns 17,686 shares of the cloud computing company’s stock valued at $1,407,000 after acquiring an additional 5,930 shares during the last quarter. Laurion Capital Management LP increased its stake in Citrix Systems by 26.7% in the second quarter. Laurion Capital Management LP now owns 15,200 shares of the cloud computing company’s stock valued at $1,210,000 after acquiring an additional 3,200 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Citrix Systems by 3.5% in the second quarter. PNC Financial Services Group Inc. now owns 11,521 shares of the cloud computing company’s stock valued at $918,000 after acquiring an additional 389 shares during the last quarter. 94.23% of the stock is currently owned by institutional investors and hedge funds.

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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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