Cisco Systems Inc. (CSCO) Earns “Market Perform” Rating from JMP Securities
Several other brokerages also recently weighed in on CSCO. RBC Capital Markets reaffirmed an outperform rating and issued a $35.00 target price on shares of Cisco Systems in a research report on Sunday, September 4th. Vetr downgraded Cisco Systems from a buy rating to a hold rating and set a $32.71 price target for the company. in a report on Monday, September 5th. Deutsche Bank AG reissued a buy rating and issued a $35.00 price target on shares of Cisco Systems in a report on Tuesday, September 6th. Raymond James Financial Inc. increased their price target on Cisco Systems from $32.00 to $34.00 and gave the company an outperform rating in a report on Friday, September 23rd. Finally, Jefferies Group reissued a buy rating and issued a $35.00 price target on shares of Cisco Systems in a report on Monday, August 29th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $32.50.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.461% on Wednesday, hitting $31.615. The company’s stock had a trading volume of 1,646,999 shares. The company has a 50 day moving average of $31.33 and a 200 day moving average of $29.43. The firm has a market cap of $158.53 billion, a PE ratio of 14.983 and a beta of 1.48. Cisco Systems has a 1-year low of $22.46 and a 1-year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Cisco Systems had a return on equity of 17.64% and a net margin of 21.81%. The company earned $12.60 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s revenue was down 1.6% compared to the same quarter last year. Equities analysts forecast that Cisco Systems will post $2.43 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, October 3rd. Cisco Systems’s payout ratio is 49.06%.
In other Cisco Systems news, Director Steven M. West sold 15,000 shares of the company’s stock in a transaction 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 owns 26,804 shares in the company, valued at approximately $809,480.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark D. Chandler sold 25,024 shares of the company’s stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $30.44, for a total transaction of $761,730.56. Following the sale, the senior vice president now owns 229,905 shares of the company’s stock, valued at approximately $6,998,308.20. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Culbertson A N & Co. Inc. purchased a new position in shares of Cisco Systems during the first quarter valued at about $3,223,000. Mission Wealth Management LLC raised its position in shares of Cisco Systems by 1.9% in the first quarter. Mission Wealth Management LLC now owns 17,343 shares of the network equipment provider’s stock valued at $494,000 after buying an additional 327 shares during the period. Iberiabank Corp raised its position in shares of Cisco Systems by 11.5% in the first quarter. Iberiabank Corp now owns 157,823 shares of the network equipment provider’s stock valued at $4,493,000 after buying an additional 16,229 shares during the period. Mitchell Sinkler & Starr PA raised its position in shares of Cisco Systems by 19.2% in the first quarter. Mitchell Sinkler & Starr PA now owns 16,441 shares of the network equipment provider’s stock valued at $468,000 after buying an additional 2,650 shares during the period. Finally, Coastline Trust Co raised its position in shares of Cisco Systems by 4.1% in the first quarter. Coastline Trust Co now owns 79,408 shares of the network equipment provider’s stock valued at $2,260,000 after buying an additional 3,110 shares during the period. Institutional investors own 75.00% of the company’s stock.
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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