Cisco Systems Inc. (CSCO) Earns Buy Rating from Oppenheimer Holdings Inc.
Cisco Systems Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating restated by equities researchers at Oppenheimer Holdings Inc. in a research note issued on Thursday. They presently have a $34.00 target price on the network equipment provider’s stock. Oppenheimer Holdings Inc.’s price target points to a potential upside of 7.70% from the company’s previous close.
A number of other analysts have also weighed in on CSCO. Vetr lowered shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 target price on the stock. in a report on Monday, September 5th. RBC Capital Markets reaffirmed an “outperform” rating and set a $35.00 target price on shares of Cisco Systems in a report on Sunday, September 4th. Deutsche Bank AG reaffirmed a “buy” rating and set a $35.00 target price on shares of Cisco Systems in a report on Tuesday, September 6th. Raymond James Financial Inc. upped their target price on shares of Cisco Systems from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, September 23rd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Cisco Systems in a report on Wednesday, October 5th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $32.45.
Cisco Systems (NASDAQ:CSCO) traded down 5.3361% during mid-day trading on Thursday, hitting $29.8854. 44,097,501 shares of the company traded hands. Cisco Systems has a one year low of $22.46 and a one year high of $31.95. The firm has a market capitalization of $21855.66 billion, a P/E ratio of 14.1637 and a beta of 1.42. The firm has a 50 day moving average of $30.87 and a 200 day moving average of $29.94.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 16th. The network equipment provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.59 by $0.02. The business had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. Cisco Systems had a net margin of 21.81% and a return on equity of 17.64%. The company’s revenue for the quarter was down 2.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.59 earnings per share. Equities research analysts expect that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Monday, October 3rd. Cisco Systems’s payout ratio is 49.06%.
In other Cisco Systems news, EVP Chris Dedicoat sold 60,000 shares of Cisco Systems stock in a transaction on Friday, September 16th. The shares were sold at an average price of $30.87, for a total transaction of $1,852,200.00. Following the completion of the transaction, the executive vice president now directly owns 214,605 shares of the company’s stock, valued at $6,624,856.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Mark D. Chandler sold 25,024 shares of Cisco Systems stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total transaction of $761,730.56. Following the transaction, the senior vice president now directly owns 229,905 shares of the company’s stock, valued at $6,998,308.20. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Simmons Bank bought a new stake in shares of Cisco Systems during the first quarter worth about $5,610,000. Arete Wealth Advisors LLC raised its stake in shares of Cisco Systems by 5.8% in the first quarter. Arete Wealth Advisors LLC now owns 23,778 shares of the network equipment provider’s stock worth $677,000 after buying an additional 1,299 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Cisco Systems by 1.9% in the first quarter. Geode Capital Management LLC now owns 44,975,559 shares of the network equipment provider’s stock worth $1,278,095,000 after buying an additional 838,015 shares in the last quarter. Loomis Sayles & Co. L P raised its stake in shares of Cisco Systems by 7.7% in the first quarter. Loomis Sayles & Co. L P now owns 34,340,695 shares of the network equipment provider’s stock worth $977,679,000 after buying an additional 2,469,580 shares in the last quarter. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Cisco Systems during the first quarter worth about $850,000. 75.12% of the stock is owned by institutional investors.
Cisco Systems Company Profile
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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