Cisco Systems (CSCO) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Cisco Systems (NASDAQ:CSCO) posted its quarterly earnings results on Wednesday. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04, Bloomberg Earnings reports. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. During the same period last year, the company earned $0.57 EPS. Cisco Systems updated its Q3 guidance to $0.64-0.66 EPS.

Shares of Cisco Systems (NASDAQ:CSCO) opened at $44.35 on Thursday. Cisco Systems has a 12 month low of $30.36 and a 12 month high of $45.10. The stock has a market cap of $219,270.00, a price-to-earnings ratio of -138.59, a PEG ratio of 3.71 and a beta of 1.23. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a $0.33 dividend. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. Cisco Systems’s dividend payout ratio is -362.50%.

In other news, CAO Prat Bhatt sold 2,606 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total value of $95,092.94. Following the completion of the sale, the chief accounting officer now owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock valued at $12,892,271 in the last ninety days. 0.05% of the stock is owned by corporate insiders.

Several institutional investors have recently made changes to their positions in CSCO. Beach Investment Management LLC. purchased a new stake in Cisco Systems during the 2nd quarter valued at $1,030,000. Crawford Investment Counsel Inc. boosted its position in Cisco Systems by 150.2% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 497,444 shares of the network equipment provider’s stock valued at $15,570,000 after buying an additional 298,602 shares during the period. Cornerstone Advisory LLP boosted its position in Cisco Systems by 6.3% during the 2nd quarter. Cornerstone Advisory LLP now owns 8,355 shares of the network equipment provider’s stock valued at $262,000 after buying an additional 494 shares during the period. Commerce Bank boosted its position in Cisco Systems by 98.0% during the 2nd quarter. Commerce Bank now owns 1,268,079 shares of the network equipment provider’s stock valued at $39,691,000 after buying an additional 627,692 shares during the period. Finally, Marble Harbor Investment Counsel LLC boosted its position in Cisco Systems by 0.7% during the 2nd quarter. Marble Harbor Investment Counsel LLC now owns 445,417 shares of the network equipment provider’s stock valued at $13,942,000 after buying an additional 3,020 shares during the period. 75.42% of the stock is owned by institutional investors.

A number of analysts recently weighed in on the stock. Barclays upped their target price on shares of Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a report on Wednesday, January 17th. Deutsche Bank reaffirmed a “buy” rating and set a $45.00 target price (up previously from $40.00) on shares of Cisco Systems in a report on Thursday, November 16th. Jefferies Group upped their target price on shares of Cisco Systems to $40.00 and gave the stock a “buy” rating in a report on Thursday, November 16th. Bank of America upped their target price on shares of Cisco Systems from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, November 16th. Finally, Nomura raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Monday. Eleven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $42.41.

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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 for Cisco Systems (NASDAQ:CSCO)

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