Equities analysts predict that Cisco Systems, Inc. (NASDAQ:CSCO) will report $12.87 billion in sales for the current fiscal quarter, according to Zacks. Nine analysts have issued estimates for Cisco Systems’ earnings. The highest sales estimate is $12.90 billion and the lowest is $12.84 billion. Cisco Systems posted sales of $12.14 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 6%. The business is expected to announce its next quarterly earnings report after the market closes on Wednesday, November 14th.
On average, analysts expect that Cisco Systems will report full year sales of $51.48 billion for the current fiscal year, with estimates ranging from $51.11 billion to $51.80 billion. For the next year, analysts expect that the company will post sales of $53.14 billion, with estimates ranging from $52.48 billion to $54.17 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The business had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same period last year, the firm earned $0.61 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year.
A number of analysts have weighed in on CSCO shares. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. UBS Group set a $56.00 price target on Cisco Systems and gave the company a “buy” rating in a research note on Wednesday, September 26th. BidaskClub upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 25th. Cowen raised their price objective on Cisco Systems from $51.00 to $58.00 and gave the stock an “outperform” rating in a report on Thursday, August 16th. Finally, JPMorgan Chase & Co. set a $59.00 price objective on Cisco Systems and gave the stock a “buy” rating in a report on Thursday, August 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $48.76.
Cisco Systems stock traded down $1.33 during midday trading on Wednesday, reaching $47.11. The company’s stock had a trading volume of 22,005,607 shares, compared to its average volume of 24,590,170. Cisco Systems has a fifty-two week low of $33.67 and a fifty-two week high of $49.47. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22. The stock has a market cap of $230.76 billion, a PE ratio of 20.13, a P/E/G ratio of 2.83 and a beta of 1.11.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date was Thursday, October 4th. Cisco Systems’s dividend payout ratio is presently 56.41%.
In other news, SVP Irving Tan sold 68,308 shares of Cisco Systems stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.38, for a total transaction of $3,236,433.04. Following the completion of the sale, the senior vice president now directly owns 150,763 shares in the company, valued at approximately $7,143,150.94. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. Insiders sold a total of 450,620 shares of company stock worth $21,322,282 in the last ninety days. 0.03% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC raised its holdings in Cisco Systems by 47.1% in the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after acquiring an additional 38,725 shares during the last quarter. Covington Investment Advisors Inc. acquired a new position in Cisco Systems in the 1st quarter valued at $5,331,000. Winfield Associates Inc. raised its holdings in Cisco Systems by 121.0% in the 1st quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after acquiring an additional 2,557 shares during the last quarter. United Capital Financial Advisers LLC raised its holdings in Cisco Systems by 2.8% in the 1st quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after acquiring an additional 56,027 shares during the last quarter. Finally, KBC Group NV raised its holdings in Cisco Systems by 29.6% in the 1st quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after acquiring an additional 478,673 shares during the last quarter. Institutional investors own 71.52% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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