Cisco Systems Inc. (CSCO) Receives “Buy” Rating from Pacific Crest
Other equities analysts have also issued reports about the stock. 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 reiterated an outperform rating and issued a $35.00 target price on shares of Cisco Systems in a report on Sunday, September 4th. Deutsche Bank AG reiterated a buy rating and issued a $35.00 target price on shares of Cisco Systems in a report on Tuesday, September 6th. Raymond James Financial Inc. boosted their target price on shares of Cisco Systems from $32.00 to $34.00 and gave the company an outperform rating in a report on Friday, September 23rd. Finally, JMP Securities reiterated a market perform rating on shares of Cisco Systems in a report on Wednesday, October 5th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $32.57.
Cisco Systems (NASDAQ:CSCO) traded up 0.649% during mid-day trading on Thursday, reaching $30.245. 13,912,890 shares of the company were exchanged. The company has a market capitalization of $151.66 billion, a price-to-earnings ratio of 14.334 and a beta of 1.42. The company has a 50 day moving average of $30.83 and a 200-day moving average of $29.95. Cisco Systems has a 1-year low of $22.46 and a 1-year high of $31.95.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. The firm had revenue of $12.35 billion for the quarter, compared to analyst estimates of $12.34 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.58%. Cisco Systems’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. On average, equities research analysts forecast that Cisco Systems will post $2.43 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 26th. Shareholders of record on Wednesday, October 5th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Monday, October 3rd. Cisco Systems’s payout ratio is 49.52%.
In related news, SVP Mark D. Chandler sold 25,024 shares of the business’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $30.44, for a total value of $761,730.56. Following the completion of the sale, the senior vice president now owns 229,905 shares of the company’s stock, valued at approximately $6,998,308.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Carol Bartz sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The shares were sold at an average price of $31.25, for a total value of $468,750.00. Following the completion of the sale, the director now directly owns 23,104 shares of the company’s stock, valued at approximately $722,000. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Large investors have recently made changes to their positions in the stock. VNBTrust National Association boosted its stake in shares of Cisco Systems by 0.3% in the third quarter. VNBTrust National Association now owns 7,010 shares of the network equipment provider’s stock worth $222,000 after buying an additional 20 shares during the last quarter. Mercer Capital Advisers Inc. boosted its stake in Cisco Systems by 0.7% in the second quarter. Mercer Capital Advisers Inc. now owns 4,760 shares of the network equipment provider’s stock valued at $137,000 after buying an additional 35 shares in the last quarter. Ironwood Investment Management LLC boosted its stake in Cisco Systems by 0.3% in the third quarter. Ironwood Investment Management LLC now owns 13,894 shares of the network equipment provider’s stock valued at $441,000 after buying an additional 36 shares in the last quarter. Blume Capital Management Inc. boosted its stake in Cisco Systems by 0.4% in the third quarter. Blume Capital Management Inc. now owns 10,708 shares of the network equipment provider’s stock valued at $340,000 after buying an additional 43 shares in the last quarter. Finally, Partnervest Advisory Services LLC boosted its stake in Cisco Systems by 0.6% in the third quarter. Partnervest Advisory Services LLC now owns 11,782 shares of the network equipment provider’s stock valued at $374,000 after buying an additional 74 shares in the last quarter. 75.12% of the stock is owned by institutional investors and hedge funds.
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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