Brokerages Anticipate Cisco Systems, Inc. (CSCO) Will Post Earnings of $0.60 Per Share
Wall Street analysts expect Cisco Systems, Inc. (NASDAQ:CSCO) to post earnings per share (EPS) of $0.60 for the current quarter, Zacks Investment Research reports. Eight analysts have issued estimates for Cisco Systems’ earnings. The lowest EPS estimate is $0.59 and the highest is $0.61. Cisco Systems reported earnings of $0.61 per share in the same quarter last year, which would indicate a negative year over year growth rate of 1.6%. The firm is expected to report its next earnings report on Wednesday, November 15th.
On average, analysts expect that Cisco Systems will report full-year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.33 to $2.47. For the next financial year, analysts anticipate that the business will report earnings of $2.54 per share, with EPS estimates ranging from $2.40 to $2.70. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.63 EPS.
A number of research firms recently issued reports on CSCO. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $36.00 price target on shares of Cisco Systems in a report on Monday, June 26th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price target for the company in a report on Wednesday, September 6th. Robert W. Baird reaffirmed a “buy” rating and issued a $38.00 price target on shares of Cisco Systems in a report on Monday, September 11th. Drexel Hamilton reaffirmed a “buy” rating and issued a $39.00 price target on shares of Cisco Systems in a report on Sunday, June 25th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a report on Thursday, August 17th. Fourteen analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.57.
Shares of Cisco Systems (CSCO) traded up 0.31% during trading on Thursday, reaching $32.70. 19,870,012 shares of the company were exchanged. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $34.60. The stock has a market capitalization of $161.93 billion, a P/E ratio of 17.21 and a beta of 1.19. The stock has a 50-day moving average of $31.72 and a 200 day moving average of $32.41. Cisco Systems also was the target of some unusual options trading on Monday. Stock traders purchased 16,510 put options on the company. This is an increase of 117% compared to the typical volume of 7,614 put options.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th will be paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date is Wednesday, October 4th. Cisco Systems’s dividend payout ratio is currently 60.73%.
In other news, SVP Karen Walker sold 23,110 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $740,906.60. Following the sale, the senior vice president now owns 192,774 shares in the company, valued at approximately $6,180,334.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Prat Bhatt sold 25,638 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the sale, the chief accounting officer now owns 119,996 shares in the company, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last quarter, insiders have sold 485,138 shares of company stock worth $15,347,574. Company insiders own 0.11% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CSCO. Barnett & Company Inc. raised its stake in Cisco Systems by 1,511.5% in the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after acquiring an additional 3,023 shares during the period. Tortoise Investment Management LLC raised its stake in Cisco Systems by 36.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after acquiring an additional 878 shares during the period. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems in the 2nd quarter valued at $104,000. Grove Bank & Trust raised its stake in Cisco Systems by 141.3% in the 2nd quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 2,120 shares during the period. Finally, Manchester Capital Management LLC raised its stake in Cisco Systems by 10.7% in the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 75.37% of the company’s stock.
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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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