$674.91 Million in Sales Expected for Citrix Systems, Inc. (CTXS) This Quarter

Brokerages expect Citrix Systems, Inc. (NASDAQ:CTXS) to report sales of $674.91 million for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Citrix Systems’ earnings. The lowest sales estimate is $670.30 million and the highest is $678.00 million. Citrix Systems posted sales of $662.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 1.8%. The business is scheduled to issue its next earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Citrix Systems will report full-year sales of $674.91 million for the current financial year, with estimates ranging from $2.86 billion to $2.88 billion. For the next year, analysts anticipate that the firm will report sales of $2.99 billion per share, with estimates ranging from $2.94 billion to $3.23 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 quarterly earnings results on Wednesday, January 31st. The cloud computing company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.06. The company had revenue of $777.90 million during the quarter, compared to analysts’ expectations of $778.49 million. Citrix Systems had a positive return on equity of 38.56% and a negative net margin of 0.73%. The business’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.61 earnings per share.

CTXS has been the subject of several recent analyst reports. Citigroup decreased their target price on Citrix Systems from $96.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, October 27th. Zacks Investment Research cut Citrix Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, December 26th. KeyCorp reaffirmed a “hold” rating on shares of Citrix Systems in a research note on Friday, November 10th. Stifel Nicolaus reaffirmed a “hold” rating and set a $88.00 target price (up previously from $86.00) on shares of Citrix Systems in a research note on Thursday, February 1st. Finally, Goldman Sachs Group raised Citrix Systems from a “neutral” rating to a “buy” rating and set a $109.00 target price for the company in a research note on Friday, November 3rd. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $91.31.

Shares of Citrix Systems (NASDAQ CTXS) opened at $89.12 on Wednesday. Citrix Systems has a one year low of $73.33 and a one year high of $95.00. The company has a market capitalization of $13,430.00, a P/E ratio of 2,970.67, a P/E/G ratio of 3.04 and a beta of 1.35. The company has a debt-to-equity ratio of 2.14, a quick ratio of 1.55 and a current ratio of 1.55.

Citrix Systems declared that its Board of Directors has initiated a stock repurchase program on Monday, November 13th that permits the company to repurchase $1.70 billion in outstanding shares. This repurchase authorization permits the cloud computing company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

In other news, insider Robert Calderoni sold 60,000 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $85.61, for a total value of $5,136,600.00. Following the transaction, the insider now owns 178,706 shares in the company, valued at $15,299,020.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Rotterdam Jeroen Van sold 8,530 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $84.58, for a total value of $721,467.40. Following the completion of the transaction, the senior vice president now owns 67,122 shares in the company, valued at approximately $5,677,178.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,030 shares of company stock worth $8,341,942. Corporate insiders own 0.44% of the company’s stock.

Several hedge funds have recently bought and sold shares of CTXS. Koch Industries Inc. lifted its holdings in shares of Citrix Systems by 12,490.5% in the second quarter. Koch Industries Inc. now owns 724,333 shares of the cloud computing company’s stock valued at $715,000 after purchasing an additional 718,580 shares in the last quarter. Bank of Nova Scotia lifted its holdings in shares of Citrix Systems by 1,955.1% in the second quarter. Bank of Nova Scotia now owns 734,618 shares of the cloud computing company’s stock valued at $58,461,000 after purchasing an additional 698,872 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of Citrix Systems by 64.8% in the second quarter. Toronto Dominion Bank now owns 811,572 shares of the cloud computing company’s stock valued at $64,572,000 after purchasing an additional 319,076 shares in the last quarter. Old Mutual Global Investors UK Ltd. lifted its holdings in shares of Citrix Systems by 35.7% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 943,697 shares of the cloud computing company’s stock valued at $72,494,000 after purchasing an additional 248,454 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Citrix Systems during the third quarter worth $18,414,000. Institutional investors own 91.70% of the company’s stock.

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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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Earnings History and Estimates for Citrix Systems (NASDAQ:CTXS)

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