Cisco Systems (CSCO) Releases Q3 Earnings Guidance

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.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a $0.33 dividend. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.14%. Cisco Systems’s payout ratio is currently 60.10%.

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.

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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).

Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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