Royal Bank of Canada Reaffirms “Buy” Rating for Cisco Systems (CSCO)

Cisco Systems (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by investment analysts at Royal Bank of Canada in a report issued on Monday.

The analysts wrote, “We also believe there’s room for SG&A to come in better than UAA’s conservative plan. Above-consensus FY18 EPS guidance seems likely We expect UAA to guide to modest sales growth, stronger for FY18 than FY17, driven by international and DTC.””

Other research analysts have also issued research reports about the stock. BidaskClub upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Vetr upgraded shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $44.13 price target on the stock in a research report on Monday, February 5th. ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Wells Fargo & Co restated an “outperform” rating and issued a $42.00 price target on shares of Cisco Systems in a research report on Tuesday, November 14th. Finally, Oppenheimer restated a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Tuesday, October 31st. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $39.54.

Shares of Cisco Systems (CSCO) opened at $39.53 on Monday. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $42.98. The company has a market capitalization of $195,421.38, a P/E ratio of 20.48, a P/E/G ratio of 3.55 and a beta of 1.23. The company has a current ratio of 2.87, a quick ratio of 2.81 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The firm had revenue of $12.14 billion for the quarter, compared to analysts’ expectations of $12.11 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. analysts expect that Cisco Systems will post 2.23 EPS for the current year.

In related news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the sale, the insider now owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the sale, the senior vice president now directly owns 176,418 shares of the company’s stock, valued at approximately $6,437,492.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,643 shares of company stock valued at $12,892,271. 0.05% of the stock is owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Barnett & Company Inc. lifted its position in 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 acquiring an additional 3,023 shares during the last quarter. Stonehearth Capital Management LLC acquired a new position in Cisco Systems during the 4th quarter worth $102,000. Tortoise Investment Management LLC lifted its position in 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 acquiring an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Cisco Systems during the 2nd quarter worth $104,000. Finally, Keeler Thomas Management LLC acquired a new position in Cisco Systems during the 4th quarter worth $108,000. 75.42% of the stock is owned by institutional investors and hedge funds.

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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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