Cisco Systems (NASDAQ:CSCO) Posts Earnings Results, Beats Estimates By $0.17 EPS

Cisco Systems (NASDAQ:CSCO) issued its quarterly earnings data on Wednesday. The network equipment provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.17, Briefing.com reports. The business had revenue of $12.70 billion for the quarter, compared to the consensus estimate of $12.53 billion. Cisco Systems had a return on equity of 33.01% and a net margin of 23.49%. The business’s revenue was down 12.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. Cisco Systems updated its Q4 guidance to $0.84-0.86 EPS.

Cisco Systems Stock Performance

Shares of CSCO opened at $49.67 on Thursday. The firm has a market cap of $201.12 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 2.81 and a beta of 0.87. The company has a quick ratio of 1.26, a current ratio of 1.37 and a debt-to-equity ratio of 0.14. The business’s 50 day moving average is $48.73 and its two-hundred day moving average is $49.56. Cisco Systems has a 52-week low of $45.70 and a 52-week high of $58.19.

Cisco Systems Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 3.22%. Cisco Systems’s dividend payout ratio (DPR) is presently 48.63%.

Wall Street Analysts Forecast Growth

CSCO has been the topic of a number of recent research reports. JPMorgan Chase & Co. began coverage on shares of Cisco Systems in a report on Monday, April 22nd. They issued a “neutral” rating and a $53.00 target price on the stock. Bank of America upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $55.00 to $60.00 in a research report on Monday, April 15th. BNP Paribas raised Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 price target on the stock in a research note on Monday. Morgan Stanley began coverage on Cisco Systems in a research report on Tuesday, April 9th. They issued an “overweight” rating and a $58.00 price objective for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a report on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Hold” and an average target price of $55.81.

Insider Activity

In related news, SVP Maria Victoria Wong sold 2,497 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Richard Scott Herren sold 13,942 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the completion of the transaction, the chief financial officer now owns 328,491 shares in the company, valued at approximately $16,424,550. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the sale, the senior vice president now owns 58,121 shares in the company, valued at $2,906,050. The disclosure for this sale can be found here. In the last three months, insiders sold 19,441 shares of company stock valued at $972,080. Company insiders own 0.02% 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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.