Berenberg Bank Reaffirms “Neutral” Rating for Cisco Systems (CSCO)

Berenberg Bank restated their neutral rating on shares of Cisco Systems (NASDAQ:CSCO) in a report issued on Thursday. Berenberg Bank currently has a $40.00 price objective on the network equipment provider’s stock.

Several other research analysts have also issued reports on the company. William Blair restated an outperform rating on shares of Cisco Systems in a research report on Thursday. Stifel Nicolaus restated a hold rating and issued a $46.00 price target (up from $40.00) on shares of Cisco Systems in a research report on Thursday. Cowen lifted their target price on Cisco Systems from $42.00 to $51.00 and gave the stock an outperform rating in a report on Thursday. Jefferies Group reiterated a buy rating and set a $48.00 target price on shares of Cisco Systems in a report on Thursday. Finally, Royal Bank of Canada lifted their target price on Cisco Systems to $50.00 and gave the stock an outperform rating in a report on Thursday. Twelve analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $43.57.

Cisco Systems (NASDAQ:CSCO) opened at $44.33 on Thursday. Cisco Systems has a 12-month low of $30.36 and a 12-month high of $45.13. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.38. The stock has a market capitalization of $219,150.78, a price-to-earnings ratio of 19.97, a PEG ratio of 3.29 and a beta of 1.23.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 business had revenue of $11.89 billion for the quarter, compared to analyst estimates of $11.82 billion. During the same period last year, the company earned $0.57 EPS. research analysts anticipate that Cisco Systems will post 2.24 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a $0.33 dividend. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s payout ratio is currently -362.50%.

Cisco Systems announced that its board has initiated a share repurchase plan on Wednesday, February 14th that authorizes the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization authorizes the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

In related news, Director Roderick C. Mcgeary sold 15,230 shares of Cisco Systems stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.00, for a total value of $578,740.00. Following the sale, the director now owns 113,154 shares of the company’s stock, valued at $4,299,852. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Rebecca Jacoby sold 75,021 shares of Cisco Systems stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the transaction, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 348,643 shares of company stock worth $12,892,271. 0.05% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Richard Bernstein Advisors LLC grew its holdings in Cisco Systems by 21.2% during the second quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after purchasing an additional 47,211 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in shares of Cisco Systems by 10.4% during the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after acquiring an additional 14,395 shares during the period. Eads & Heald Investment Counsel boosted its holdings in shares of Cisco Systems by 15.7% during the second quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after acquiring an additional 5,765 shares during the period. Pzena Investment Management LLC boosted its holdings in shares of Cisco Systems by 0.4% during the third quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after acquiring an additional 10,265 shares during the period. Finally, Forward Management LLC bought a new stake in shares of Cisco Systems during the third quarter worth approximately $869,000. Institutional investors and hedge funds own 75.06% of the company’s stock.

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Cisco Systems Company Profile

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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Berenberg Bank Reaffirms “Neutral” Rating for Cisco Systems (CSCO)

Berenberg Bank reiterated their neutral rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note released on Thursday. They currently have a $40.00 price objective on the network equipment provider’s stock.

Several other brokerages also recently commented on CSCO. Loop Capital began coverage on shares of Cisco Systems in a research report on Monday, January 29th. They set a hold rating and a $45.00 price objective for the company. Vetr upgraded shares of Cisco Systems from a hold rating to a buy rating and set a $44.13 price objective for the company in a research report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Cisco Systems from a hold rating to a buy rating and set a $48.00 price objective for the company in a research report on Wednesday, January 31st. Piper Jaffray Companies set a $48.00 price objective on shares of Cisco Systems and gave the company a buy rating in a research report on Thursday. Finally, Jefferies Group restated a buy rating and set a $48.00 price objective 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’s stock. The stock has a consensus rating of Buy and a consensus price target of $43.57.

Cisco Systems (NASDAQ:CSCO) opened at $44.33 on Thursday. Cisco Systems has a 1 year low of $30.36 and a 1 year high of $45.13. The company has a market cap of $219,150.78, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 3.29 and a beta of 1.23. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43.

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, beating 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 business had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same period in the previous year, the business earned $0.57 earnings per share. equities research analysts anticipate that Cisco Systems will post 2.24 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio is -362.50%.

Cisco Systems declared that its board has initiated a share buyback program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in outstanding shares. This buyback authorization authorizes the network equipment provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

In other news, SVP Karen Walker sold 5,786 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the transaction, the senior vice president now owns 176,418 shares of the company’s stock, valued at approximately $6,437,492.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.00, for a total transaction of $578,740.00. Following the transaction, the director now directly owns 113,154 shares in the company, valued at approximately $4,299,852. The disclosure for this sale can be found here. Insiders have sold a total of 348,643 shares of company stock worth $12,892,271 in the last three months. Insiders own 0.05% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in CSCO. Richard Bernstein Advisors LLC raised its holdings in shares of Cisco Systems by 21.2% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock worth $8,434,000 after acquiring an additional 47,211 shares during the last quarter. Stratos Wealth Partners LTD. raised its holdings in shares of Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after acquiring an additional 14,395 shares during the last quarter. Eads & Heald Investment Counsel raised its holdings in shares of Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock worth $1,329,000 after acquiring an additional 5,765 shares during the last quarter. Pzena Investment Management LLC raised its holdings in shares of Cisco Systems by 0.4% in the 3rd quarter. Pzena Investment Management LLC now owns 2,517,046 shares of the network equipment provider’s stock worth $84,648,000 after acquiring an additional 10,265 shares during the last quarter. Finally, Forward Management LLC acquired a new stake in shares of Cisco Systems in the 3rd quarter worth about $869,000. 75.06% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This news story was first reported by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are accessing this news story on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark law. The legal version of this news story can be accessed at https://www.thelincolnianonline.com/2018/02/19/berenberg-bank-reaffirms-neutral-rating-for-cisco-systems-csco.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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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.

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