Cisco Systems Inc. (NASDAQ:CSCO) Receives $33.03 Average PT from Analysts
Cisco Systems Inc. (NASDAQ:CSCO) has earned a consensus recommendation of “Buy” from the thirty-eight ratings firms that are covering the firm. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $33.03.
A number of brokerages recently commented on CSCO. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a report on Wednesday. Vetr raised shares of Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $35.44 target price for the company in a research report on Monday, October 3rd. Bank of America Corp. reaffirmed a “neutral” rating and issued a $33.00 target price on shares of Cisco Systems in a research report on Monday, September 26th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Friday, September 23rd. Finally, Raymond James Financial Inc. raised their target price on shares of Cisco Systems from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Friday, September 23rd.
In other news, SVP Karen Walker sold 10,244 shares of the business’s stock in a transaction that occurred on Tuesday, September 20th. The shares were sold at an average price of $31.17, for a total value of $319,305.48. Following the sale, the senior vice president now owns 138,625 shares of the company’s stock, valued at $4,320,941.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Steven M. West sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $30.20, for a total transaction of $453,000.00. Following the completion of the sale, the director now directly owns 26,804 shares in the company, valued at approximately $809,480.80. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. British Columbia Investment Management Corp raised its stake in Cisco Systems by 4.4% in the second quarter. British Columbia Investment Management Corp now owns 3,099,966 shares of the network equipment provider’s stock valued at $88,938,000 after buying an additional 129,545 shares during the period. Eagle Asset Management Inc. raised its stake in Cisco Systems by 3.8% in the second quarter. Eagle Asset Management Inc. now owns 5,101,847 shares of the network equipment provider’s stock valued at $146,372,000 after buying an additional 189,013 shares during the period. Primecap Management Co. CA raised its stake in Cisco Systems by 16.0% in the first quarter. Primecap Management Co. CA now owns 29,127,015 shares of the network equipment provider’s stock valued at $829,246,000 after buying an additional 4,013,625 shares during the period. Rockefeller Financial Services Inc. raised its stake in Cisco Systems by 12.8% in the second quarter. Rockefeller Financial Services Inc. now owns 439,424 shares of the network equipment provider’s stock valued at $12,607,000 after buying an additional 50,020 shares during the period. Finally, Panagora Asset Management Inc. raised its stake in Cisco Systems by 1.4% in the first quarter. Panagora Asset Management Inc. now owns 4,952,008 shares of the network equipment provider’s stock valued at $140,984,000 after buying an additional 70,367 shares during the period. 75.00% of the stock is currently owned by institutional investors.
Cisco Systems (NASDAQ:CSCO) opened at 31.47 on Tuesday. The firm has a market cap of $157.80 billion, a price-to-earnings ratio of 14.91 and a beta of 1.49. The stock’s 50 day moving average is $31.33 and its 200-day moving average is $29.43. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 17th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The business had revenue of $12.60 billion for the quarter, compared to analyst estimates of $12.57 billion. During the same period last year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. On average, analysts anticipate that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Monday, October 3rd. Cisco Systems’s dividend payout ratio is 49.06%.
About Cisco Systems
Cisco System, Inc (Cisco) designs and sells lines of products, provides services and delivers integrated solutions to develop and connect networks around the world, building the Internet. The Company is engaged in designing, manufacturing and selling Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry, and provides services associated with these products and their use.
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