Argus reaffirmed their buy rating on shares of Cisco Systems (NASDAQ:CSCO) in a report issued on Friday morning. The brokerage currently has a $50.00 target price on the network equipment provider’s stock, up from their previous target price of $44.00.
Several other brokerages have also recently weighed in on CSCO. Royal Bank of Canada reaffirmed a buy rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Wednesday, November 15th. BidaskClub raised shares of Cisco Systems from a buy rating to a strong-buy rating in a research report on Friday, January 5th. Vetr raised shares of Cisco Systems from a buy rating to a strong-buy rating and set a $44.13 price target for the company in a research report on Monday, February 5th. BMO Capital Markets upped their price target on shares of Cisco Systems from $36.00 to $43.00 and gave the stock a market perform rating in a research report on Thursday. Finally, KeyCorp upped their price target on shares of Cisco Systems from $43.00 to $49.00 and gave the stock an overweight rating in a research report on Thursday. Twelve research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and an average target price of $43.57.
Shares of Cisco Systems (CSCO) traded up $0.25 on Friday, hitting $44.33. 38,624,634 shares of the stock traded hands, compared to its average volume of 30,950,000. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $45.13. The stock has a market cap of $220,390.00, a PE ratio of -138.53, a PEG ratio of 3.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.81.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. The firm had revenue of $11.89 billion during the quarter, compared to analysts’ expectations of $11.82 billion. During the same quarter in the prior year, the company earned $0.57 EPS. equities analysts expect that Cisco Systems will post 2.23 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a $0.33 dividend. The ex-dividend date is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is presently -362.50%.
Cisco Systems announced that its board has authorized a share buyback program on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to reacquire shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider John T. Chambers sold 250,000 shares of the stock in a transaction on 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 sale, the insider now owns 712,736 shares in the company, valued at $26,014,864. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total transaction of $2,882,306.82. Following the completion of the sale, the senior vice president now owns 257,476 shares in the company, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock worth $12,892,271 in the last quarter. Company insiders own 0.05% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Cisco Systems by 12.8% during the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after buying an additional 13,927,416 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its holdings in Cisco Systems by 91.0% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock worth $746,806,000 after buying an additional 9,292,187 shares in the last quarter. Stifel Financial Corp boosted its holdings in Cisco Systems by 6,109.5% during the third quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after buying an additional 8,016,561 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares in the last quarter. Hedge funds and other institutional investors own 75.42% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was first posted by The Lincolnian Online and is the property of of The Lincolnian Online. If you are viewing this piece on another publication, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark legislation. The original version of this piece can be viewed at https://www.thelincolnianonline.com/2018/02/17/cisco-systems-csco-receives-buy-rating-from-argus.html.
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).
Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.