Cisco Systems (NASDAQ:CSCO) posted its quarterly earnings data on Wednesday. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.01, RTT News reports. The firm had revenue of $13.43 billion during the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a net margin of 25.76% and a return on equity of 29.88%. The business’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.70 EPS. Cisco Systems updated its Q1 2020 guidance to $0.80-0.82 EPS and its Q1 guidance to $0.80-0.82 EPS.
Shares of NASDAQ:CSCO traded down $1.98 during midday trading on Wednesday, hitting $50.75. The stock had a trading volume of 15,871,574 shares, compared to its average volume of 20,911,664. The stock has a 50-day moving average price of $55.59. The company has a market capitalization of $224.44 billion, a P/E ratio of 21.69, a P/E/G ratio of 2.41 and a beta of 1.18. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. Cisco Systems has a fifty-two week low of $40.25 and a fifty-two week high of $58.26.
The company also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend was Wednesday, July 3rd. Cisco Systems’s payout ratio is presently 59.83%.
A number of research firms have issued reports on CSCO. Goldman Sachs Group downgraded shares of Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $62.00 in a report on Tuesday, April 16th. Morgan Stanley boosted their price objective on shares of Cisco Systems from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, May 16th. Barclays began coverage on shares of Cisco Systems in a report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price objective for the company. JPMorgan Chase & Co. set a $62.00 price objective on shares of Cisco Systems and gave the company a “buy” rating in a report on Monday. Finally, William Blair downgraded shares of Cisco Systems from an “outperform” rating to a “market perform” rating and set a $56.10 price objective for the company. in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have assigned a buy rating to the company’s stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $56.32.
In related news, EVP Mark D. Chandler sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $55.79, for a total transaction of $209,212.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the transaction, the chief financial officer now owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The disclosure for this sale can be found here. Insiders sold a total of 95,129 shares of company stock valued at $5,159,754 over the last 90 days. Corporate insiders own 0.03% of the company’s stock.
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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