Citrix Systems (NASDAQ:CTXS) Updates FY 2021 Earnings Guidance

Citrix Systems (NASDAQ:CTXS) issued an update on its FY 2021 earnings guidance on Thursday morning. The company provided EPS guidance of $4.900-$4.950 for the period. The company issued revenue guidance of $3.19 billion-$3.20 billion.

Shares of NASDAQ:CTXS traded up $0.73 during mid-day trading on Thursday, hitting $84.74. The company had a trading volume of 1,365,399 shares, compared to its average volume of 1,418,904. The firm has a fifty day moving average price of $97.79 and a 200 day moving average price of $106.67. The company has a market capitalization of $10.57 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 2.94 and a beta of 0.01. The company has a debt-to-equity ratio of 8.32, a current ratio of 0.66 and a quick ratio of 0.65. Citrix Systems has a one year low of $83.46 and a one year high of $145.19.

Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Thursday, November 4th. The cloud computing company reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.31. The company had revenue of $778.45 million during the quarter, compared to analyst estimates of $770.55 million. Citrix Systems had a net margin of 9.97% and a return on equity of 155.24%. Citrix Systems’s revenue for the quarter was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.83 EPS. Research analysts expect that Citrix Systems will post 2.68 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 21st. Stockholders of record on Tuesday, December 7th will be paid a $0.37 dividend. The ex-dividend date is Monday, December 6th. This represents a $1.48 annualized dividend and a dividend yield of 1.75%. Citrix Systems’s dividend payout ratio is currently 58.96%.

CTXS has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Citrix Systems from a sell rating to a hold rating and set a $114.00 price objective for the company in a research note on Tuesday, September 28th. William Blair lowered shares of Citrix Systems from an outperform rating to a market perform rating in a research note on Tuesday, October 12th. TheStreet lowered shares of Citrix Systems from a b- rating to a c+ rating in a research note on Thursday, July 29th. Citigroup lowered shares of Citrix Systems from a buy rating to a neutral rating and decreased their price target for the company from $140.00 to $115.00 in a research note on Thursday, October 7th. Finally, Royal Bank of Canada decreased their price target on shares of Citrix Systems from $110.00 to $105.00 and set a sector perform rating for the company in a research note on Friday, November 5th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Citrix Systems currently has an average rating of Hold and a consensus price target of $104.50.

In related news, CEO David J. Henshall sold 5,450 shares of the business’s stock in a transaction dated Friday, October 1st. The shares were sold at an average price of $107.96, for a total value of $588,382.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sridhar Mullapudi sold 690 shares of the business’s stock in a transaction dated Tuesday, September 7th. The shares were sold at an average price of $102.69, for a total value of $70,856.10. Following the completion of the sale, the executive vice president now owns 20,711 shares in the company, valued at $2,126,812.59. The disclosure for this sale can be found here. Insiders have sold a total of 13,229 shares of company stock worth $1,390,965 over the last ninety days. Insiders own 0.61% of the company’s stock.

An institutional investor recently raised its position in Citrix Systems stock. Morgan Stanley boosted its position in Citrix Systems, Inc. (NASDAQ:CTXS) by 15.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 700,410 shares of the cloud computing company’s stock after acquiring an additional 94,126 shares during the period. Morgan Stanley owned 0.56% of Citrix Systems worth $82,137,000 as of its most recent SEC filing. 88.74% of the stock is currently owned by institutional investors and hedge funds.

Citrix Systems Company Profile

Citrix Systems, Inc engages in the design, development, and marketing of information technology solutions. It provides digital workspace that unifies apps, data, and services. The firm markets and licenses its products directly to customers through web, systems integrators, value-added resellers, and service providers.

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