Cisco Systems (NASDAQ:CSCO) issued an update on its first quarter 2020 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.80-0.82 for the period, compared to the Thomson Reuters consensus estimate of $0.83. The company issued revenue guidance of $13.072-13.33344 billion, compared to the consensus revenue estimate of $13.4 billion.
Shares of Cisco Systems stock traded down $1.98 during trading hours on Wednesday, hitting $50.75. The company’s stock had a trading volume of 15,871,574 shares, compared to its average volume of 20,911,664. Cisco Systems has a 12 month low of $40.25 and a 12 month high of $58.26. The stock has a 50 day simple moving average of $55.70. The company has a market capitalization of $224.44 billion, a P/E ratio of 21.69, a PEG 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 (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.01. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The company had revenue of $12.96 billion during the quarter, compared to the consensus estimate of $12.89 billion. During the same period in the prior year, the company earned $0.66 earnings per share. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that Cisco Systems will post 2.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were issued a $0.35 dividend. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a dividend yield of 2.76%. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
Several equities research analysts have issued reports on CSCO shares. William Blair downgraded Cisco Systems from an outperform rating to a market perform rating and set a $56.10 price target for the company. in a report on Wednesday, June 12th. Oppenheimer upped their price objective on Cisco Systems from $52.00 to $60.00 and gave the stock an outperform rating in a research report on Friday, April 26th. Jefferies Financial Group upped their price objective on Cisco Systems from $55.00 to $62.00 and gave the stock a buy rating in a research report on Thursday, May 16th. They noted that the move was a valuation call. ValuEngine cut Cisco Systems from a buy rating to a hold rating in a research report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. set a $62.00 price objective on Cisco Systems and gave the stock a buy rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average price target of $56.32.
In other news, CFO Kelly A. Kramer sold 70,000 shares of the 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 in the company, valued at $18,698,974.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven M. West sold 20,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $56.21, for a total value of $1,124,200.00. Following the transaction, the director now owns 5,263 shares in the company, valued at approximately $295,833.23. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,129 shares of company stock worth $5,159,754. 0.03% of the stock is owned by corporate insiders.
About Cisco Systems
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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