Cisco Systems, Inc. (NASDAQ:CSCO) – Stock analysts at KeyCorp lifted their Q2 2018 earnings per share (EPS) estimates for shares of Cisco Systems in a research report issued to clients and investors on Wednesday, Zacks Investment Research reports. KeyCorp analyst A. Kurtz now forecasts that the network equipment provider will post earnings of $0.53 per share for the quarter, up from their previous forecast of $0.52. KeyCorp has a “Buy” rating and a $33.00 price target on the stock. KeyCorp also issued estimates for Cisco Systems’ Q3 2018 earnings at $0.56 EPS, Q1 2019 earnings at $0.56 EPS, Q2 2019 earnings at $0.55 EPS, Q3 2019 earnings at $0.58 EPS, Q4 2019 earnings at $0.63 EPS and FY2019 earnings at $2.32 EPS.
A number of other equities research analysts also recently weighed in on the stock. Vetr raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target for the company in a report on Wednesday, September 6th. ValuEngine downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating in a report on Monday, August 28th. Oppenheimer reissued a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a report on Tuesday, October 31st. Cowen reissued a “buy” rating on shares of Cisco Systems in a report on Friday, November 17th. Finally, Deutsche Bank reissued a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a report on Wednesday, September 6th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.90.
Shares of Cisco Systems (CSCO) traded down $0.01 during midday trading on Monday, reaching $37.40. 17,083,778 shares of the company’s stock were exchanged, compared to its average volume of 20,400,150. Cisco Systems has a 52 week low of $29.73 and a 52 week high of $38.03. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The firm has a market cap of $185,290.00, a P/E ratio of 17.19, a price-to-earnings-growth ratio of 3.37 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same period in the prior year, the company earned $0.61 EPS. Cisco Systems’s revenue was down 1.7% on a year-over-year basis.
Several institutional investors and hedge funds have recently modified their holdings of the company. BTC Capital Management Inc. boosted its position in Cisco Systems by 21.5% during the first quarter. BTC Capital Management Inc. now owns 169,076 shares of the network equipment provider’s stock worth $5,716,000 after purchasing an additional 29,972 shares during the period. Hennessy Advisors Inc. boosted its position in Cisco Systems by 12.5% during the first quarter. Hennessy Advisors Inc. now owns 363,310 shares of the network equipment provider’s stock worth $12,280,000 after purchasing an additional 40,455 shares during the period. Callahan Advisors LLC boosted its position in Cisco Systems by 1.4% during the first quarter. Callahan Advisors LLC now owns 256,143 shares of the network equipment provider’s stock worth $8,658,000 after purchasing an additional 3,449 shares during the period. Capital Advisors Inc. OK boosted its position in Cisco Systems by 2.5% during the first quarter. Capital Advisors Inc. OK now owns 429,580 shares of the network equipment provider’s stock worth $14,520,000 after purchasing an additional 10,302 shares during the period. Finally, Welch & Forbes LLC boosted its position in Cisco Systems by 6.9% during the first quarter. Welch & Forbes LLC now owns 392,495 shares of the network equipment provider’s stock worth $13,266,000 after purchasing an additional 25,454 shares during the period. Institutional investors own 75.79% of the company’s stock.
In other news, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $3,891,763.40. Following the transaction, the chief executive officer now owns 552,694 shares in the company, valued at approximately $17,719,369.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now owns 712,736 shares in the company, valued at approximately $26,014,864. The disclosure for this sale can be found here. Insiders sold a total of 493,530 shares of company stock worth $16,993,798 in the last quarter. 0.05% of the stock is owned by corporate insiders.
About Cisco Systems
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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