Brokerages expect Cisco Systems, Inc. (NASDAQ:CSCO) to announce sales of $12.38 billion for the current quarter, Zacks Investment Research reports. Eight analysts have provided estimates for Cisco Systems’ earnings, with the highest sales estimate coming in at $12.45 billion and the lowest estimate coming in at $12.30 billion. Cisco Systems reported sales of $11.89 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.1%. The business is scheduled to issue its next quarterly earnings results on Wednesday, February 13th.
On average, analysts expect that Cisco Systems will report full year sales of $51.45 billion for the current fiscal year, with estimates ranging from $51.02 billion to $51.81 billion. For the next financial year, analysts expect that the business will report sales of $52.99 billion, with estimates ranging from $52.18 billion to $54.17 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 14th. The network equipment provider reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $12.86 billion. During the same period last year, the firm earned $0.61 earnings per share. The company’s quarterly revenue was up 7.7% on a year-over-year basis.
A number of equities analysts have recently issued reports on the stock. Robert W. Baird reiterated an “outperform” rating and set a $53.00 price objective on shares of Cisco Systems in a research note on Thursday. Raymond James increased their price objective on shares of Cisco Systems from $50.00 to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 15th. KeyCorp increased their price objective on shares of Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 15th. Loop Capital upgraded shares of Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 price objective on the stock in a research note on Thursday, November 15th. They noted that the move was a valuation call. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday, November 15th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. Cisco Systems presently has an average rating of “Buy” and a consensus price target of $50.26.
NASDAQ CSCO opened at $47.34 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11. Cisco Systems has a 52-week low of $36.73 and a 52-week high of $49.47. The company has a market cap of $227.82 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.77 and a beta of 1.11.
In related news, EVP David Goeckeler sold 63,050 shares of the stock in a transaction that occurred on Thursday, September 20th. The shares were sold at an average price of $47.57, for a total transaction of $2,999,288.50. Following the completion of the sale, the executive vice president now owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 4,373 shares of the stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $44.89, for a total transaction of $196,303.97. The disclosure for this sale can be found here. Insiders have sold 488,943 shares of company stock valued at $23,041,583 in the last three months. 0.03% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of CSCO. Bank of New York Mellon Corp raised its holdings in shares of Cisco Systems by 193,168.7% in the third quarter. Bank of New York Mellon Corp now owns 104,741,949 shares of the network equipment provider’s stock worth $5,095,693,000 after buying an additional 104,687,754 shares during the last quarter. Morgan Stanley raised its holdings in shares of Cisco Systems by 15.9% in the second quarter. Morgan Stanley now owns 50,957,358 shares of the network equipment provider’s stock worth $2,192,694,000 after buying an additional 7,009,359 shares during the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in shares of Cisco Systems in the second quarter worth $279,790,000. Matthew Goff Investment Advisor LLC raised its holdings in shares of Cisco Systems by 4,203.0% in the third quarter. Matthew Goff Investment Advisor LLC now owns 5,406,265 shares of the network equipment provider’s stock worth $125,639,000 after buying an additional 5,280,626 shares during the last quarter. Finally, Summit Trail Advisors LLC raised its holdings in shares of Cisco Systems by 4,313.3% in the first quarter. Summit Trail Advisors LLC now owns 4,814,373 shares of the network equipment provider’s stock worth $4,814,000 after buying an additional 4,705,284 shares during the last quarter. 70.28% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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