Equities analysts expect Citrix Systems, Inc. (NASDAQ:CTXS) to post $1.59 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Ten analysts have provided estimates for Citrix Systems’ earnings, with estimates ranging from $1.43 to $1.66. Citrix Systems reported earnings per share of $1.66 in the same quarter last year, which would suggest a negative year over year growth rate of 4.2%. The company is expected to report its next quarterly earnings report on Wednesday, January 30th.
On average, analysts expect that Citrix Systems will report full year earnings of $5.58 per share for the current financial year, with EPS estimates ranging from $5.55 to $5.60. For the next year, analysts anticipate that the firm will report earnings of $6.04 per share, with EPS estimates ranging from $5.98 to $6.16. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings results on Wednesday, October 24th. The cloud computing company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.15. The business had revenue of $732.47 million during the quarter, compared to analysts’ expectations of $722.76 million. Citrix Systems had a return on equity of 91.46% and a net margin of 4.27%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS.
Several equities analysts have weighed in on CTXS shares. Bank of America cut their price target on Citrix Systems from $123.00 to $116.00 and set a “neutral” rating for the company in a report on Thursday, October 25th. Barclays increased their target price on Citrix Systems from $112.00 to $114.00 and gave the company an “equal weight” rating in a report on Friday, September 7th. BidaskClub raised Citrix Systems from a “hold” rating to a “buy” rating in a report on Saturday, September 1st. Wedbush started coverage on Citrix Systems in a report on Thursday, October 18th. They set a “neutral” rating and a $115.00 target price for the company. Finally, Citigroup increased their target price on Citrix Systems from $120.00 to $124.00 and gave the company a “buy” rating in a report on Thursday, October 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $114.21.
NASDAQ CTXS opened at $107.37 on Friday. The company has a market cap of $14.67 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 2.71 and a beta of 1.37. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.82. Citrix Systems has a 1-year low of $83.70 and a 1-year high of $116.82.
Citrix Systems announced that its board has approved a stock repurchase plan on Wednesday, October 24th that authorizes the company to repurchase $750.00 million in shares. This repurchase authorization authorizes the cloud computing company to reacquire up to 5.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, December 6th. This represents a $1.40 annualized dividend and a dividend yield of 1.30%.
In related news, EVP Rotterdam Jeroen Van sold 7,766 shares of the stock in a transaction that occurred on Thursday, October 4th. The stock was sold at an average price of $109.78, for a total value of $852,551.48. Following the completion of the sale, the executive vice president now owns 59,685 shares of the company’s stock, valued at $6,552,219.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Timothy A. Minahan sold 5,890 shares of the stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $109.40, for a total value of $644,366.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,783 shares of company stock valued at $2,973,266. Insiders own 0.56% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Citrix Systems by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 14,060,558 shares of the cloud computing company’s stock valued at $1,562,972,000 after purchasing an additional 472,583 shares in the last quarter. Legal & General Group Plc boosted its holdings in Citrix Systems by 0.9% in the 3rd quarter. Legal & General Group Plc now owns 691,087 shares of the cloud computing company’s stock valued at $76,820,000 after purchasing an additional 6,200 shares during the period. Standard Life Aberdeen plc boosted its holdings in Citrix Systems by 0.7% in the 3rd quarter. Standard Life Aberdeen plc now owns 188,688 shares of the cloud computing company’s stock valued at $20,974,000 after purchasing an additional 1,316 shares during the period. NorthCoast Asset Management LLC bought a new stake in Citrix Systems in the 3rd quarter valued at about $631,000. Finally, Nordea Investment Management AB boosted its holdings in Citrix Systems by 20.2% in the 3rd quarter. Nordea Investment Management AB now owns 168,667 shares of the cloud computing company’s stock valued at $18,752,000 after purchasing an additional 28,374 shares during the period. 99.76% of the stock is owned by hedge funds and other institutional investors.
Citrix Systems Company Profile
Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.
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