Cisco Systems (NASDAQ:CSCO)‘s stock had its “outperform” rating restated by Oppenheimer in a report released on Friday. They currently have a $50.00 target price on the network equipment provider’s stock, up from their previous target price of $46.00. Oppenheimer’s target price would indicate a potential upside of 12.79% from the company’s current price. Oppenheimer also issued estimates for Cisco Systems’ Q3 2018 earnings at $0.60 EPS, Q4 2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.60 EPS, Q3 2019 earnings at $0.64 EPS and Q4 2019 earnings at $0.67 EPS.
A number of other analysts also recently commented on the company. Berenberg Bank reiterated a “neutral” rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Thursday. William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday. Stifel Nicolaus reiterated a “hold” rating and issued a $46.00 price objective (up previously from $40.00) on shares of Cisco Systems in a research report on Thursday. Cowen raised their target price on Cisco Systems from $42.00 to $51.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Jefferies Group restated a “buy” rating and set a $48.00 target price on shares of Cisco Systems in a research report on Thursday. Twelve equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $43.57.
Shares of Cisco Systems (CSCO) opened at $44.33 on Friday. The company has a quick ratio of 2.81, a current ratio of 2.43 and a debt-to-equity ratio of 0.49. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $45.13. The company has a market capitalization of $219,150.78, a P/E ratio of -138.53, a price-to-earnings-growth ratio of 3.98 and a beta of 1.23.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same quarter last year, the company earned $0.57 EPS. sell-side analysts expect that Cisco Systems will post 2.24 earnings per share for the current fiscal year.
Cisco Systems announced that its board has approved a stock buyback plan on Wednesday, February 14th that permits the company to repurchase $25.00 billion in shares. This repurchase authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.
In other news, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rebecca Jacoby sold 75,021 shares of Cisco Systems stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock valued at $12,892,271 over the last three months. Insiders own 0.05% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Cisco Systems by 12.8% in the 4th 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 purchasing an additional 13,927,416 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Cisco Systems by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 55,764,986 shares of the network equipment provider’s stock worth $2,131,581,000 after purchasing an additional 909,507 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cisco Systems by 6.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after purchasing an additional 2,987,682 shares during the last quarter. 75.42% of the stock is owned by institutional investors.
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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