Cisco Systems (CSCO) Issues Q4 2019 Earnings Guidance

Cisco Systems (NASDAQ:CSCO) updated its fourth quarter 2019 earnings guidance on Wednesday. The company provided EPS guidance of $0.80-0.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.81. The company issued revenue guidance of $13.154-13.8 million, compared to the consensus revenue estimate of $13.29 billion.

CSCO has been the topic of a number of analyst reports. Citigroup increased their price objective on shares of Cisco Systems from $52.00 to $56.00 and gave the company a buy rating in a research note on Thursday, February 14th. Credit Suisse Group increased their target price on Cisco Systems from $44.00 to $47.00 and gave the company a neutral rating in a research note on Thursday, February 14th. Goldman Sachs Group downgraded Cisco Systems from a conviction-buy rating to a buy rating and increased their target price for the company from $58.00 to $62.00 in a research note on Tuesday, April 16th. Bank of America restated a buy rating and set a $56.00 target price on shares of Cisco Systems in a research note on Thursday, February 14th. Finally, KeyCorp increased their target price on Cisco Systems from $55.00 to $58.00 and gave the company an overweight rating in a research note on Monday, March 25th. Six equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Cisco Systems currently has an average rating of Buy and an average price target of $54.35.

Shares of CSCO stock traded up $0.42 during trading on Wednesday, hitting $52.44. The company had a trading volume of 27,541,015 shares, compared to its average volume of 20,591,275. The company has a current ratio of 1.80, a quick ratio of 1.74 and a debt-to-equity ratio of 0.39. The stock has a market cap of $247.14 billion, a P/E ratio of 22.41, a price-to-earnings-growth ratio of 2.67 and a beta of 1.21. Cisco Systems has a one year low of $40.25 and a one year high of $57.53.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.01. The company had revenue of $12.45 billion for the quarter, compared to analysts’ expectations of $12.43 billion. Cisco Systems had a net margin of 25.31% and a return on equity of 27.58%. The business’s revenue was up 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Analysts forecast that Cisco Systems will post 2.75 EPS for the current year.

Cisco Systems declared that its Board of Directors has initiated a share buyback program on Wednesday, February 13th that authorizes the company to repurchase $15.00 billion in shares. This repurchase authorization authorizes the network equipment provider to purchase up to 6.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

In other news, EVP David Goeckeler sold 30,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $52.07, for a total value of $1,562,100.00. Following the transaction, the executive vice president now directly owns 419,439 shares in the company, valued at approximately $21,840,188.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Roderick C. Mcgeary sold 15,000 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the completion of the transaction, the director now owns 102,898 shares in the company, valued at $5,109,914.68. The disclosure for this sale can be found here. Insiders have sold a total of 115,000 shares of company stock valued at $5,926,000 over the last ninety days. Insiders own 0.03% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Investment Partners LTD. boosted its holdings in shares of Cisco Systems by 0.7% during the first quarter. Investment Partners LTD. now owns 28,696 shares of the network equipment provider’s stock worth $1,549,000 after acquiring an additional 186 shares during the period. Hanson McClain Inc. boosted its holdings in shares of Cisco Systems by 1.5% during the first quarter. Hanson McClain Inc. now owns 12,792 shares of the network equipment provider’s stock worth $691,000 after acquiring an additional 193 shares during the period. BlueSky Wealth Advisors LLC boosted its holdings in shares of Cisco Systems by 3.4% during the first quarter. BlueSky Wealth Advisors LLC now owns 6,047 shares of the network equipment provider’s stock worth $334,000 after acquiring an additional 200 shares during the period. Gilbert & Cook Inc. boosted its holdings in shares of Cisco Systems by 2.2% during the first quarter. Gilbert & Cook Inc. now owns 9,181 shares of the network equipment provider’s stock worth $495,000 after acquiring an additional 202 shares during the period. Finally, Harwood Advisory Group LLC boosted its holdings in shares of Cisco Systems by 0.4% during the first quarter. Harwood Advisory Group LLC now owns 55,044 shares of the network equipment provider’s stock worth $2,972,000 after acquiring an additional 205 shares during the period. Hedge funds and other institutional investors own 69.04% of the company’s stock.

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

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