Cisco Systems (NASDAQ:CSCO) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.64-0.66 for the period, compared to the Thomson Reuters consensus estimate of $0.63. The company issued revenue guidance of +3-5% to ~$12.30-12.54 billion, compared to the consensus revenue estimate of $12.13 billion.
Shares of Cisco Systems (CSCO) traded up $0.86 during midday trading on Wednesday, hitting $42.09. 42,808,084 shares of the company’s stock traded hands, compared to its average volume of 28,730,000. The stock has a market cap of $208,080.00, a price-to-earnings ratio of 21.81, a P/E/G ratio of 3.65 and a beta of 1.23. Cisco Systems has a 52 week low of $30.36 and a 52 week high of $42.98. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, topping 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 business had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. During the same period in the previous year, the firm earned $0.61 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. equities research analysts forecast that Cisco Systems will post 2.23 earnings per share for the current year.
Several equities research analysts recently commented on the stock. Loop Capital assumed coverage on shares of Cisco Systems in a research report on Monday, January 29th. They issued a hold rating and a $45.00 price objective on the stock. Vetr upgraded shares of Cisco Systems from a hold rating to a buy rating and set a $44.13 price objective on the stock in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Cisco Systems from a hold rating to a buy rating and set a $48.00 price objective on the stock in a research report on Wednesday, January 31st. ValuEngine upgraded shares of Cisco Systems from a hold rating to a buy rating in a research report on Friday, February 2nd. Finally, KeyCorp reiterated an overweight rating and issued a $43.00 price objective (up from $39.00) on shares of Cisco Systems in a research report on Friday, January 19th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $40.38.
In related news, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction that occurred on 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 owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Karen Walker sold 5,786 shares of the stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total transaction of $211,131.14. Following 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 have sold 348,643 shares of company stock valued at $12,892,271. Corporate insiders own 0.05% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CSCO. Mountain Capital Investment Advisors Inc acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $104,000. Manchester Capital Management LLC increased its position in Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after purchasing an additional 350 shares in the last quarter. Ffcm LLC increased its position in Cisco Systems by 2,025.0% during the 2nd quarter. Ffcm LLC now owns 3,740 shares of the network equipment provider’s stock worth $117,000 after purchasing an additional 3,564 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $141,000. Finally, Almanack Investment Partners LLC. acquired a new stake in Cisco Systems during the 2nd quarter worth approximately $191,000. 75.42% of the stock is owned by hedge funds and other institutional investors.
Cisco Systems Company Profile
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).
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