Barclays PLC Reiterates “Buy” Rating for Cisco Systems Inc. (CSCO)
Cisco Systems Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating reiterated by Barclays PLC in a report released on Thursday. They currently have a $34.00 price objective on the network equipment provider’s stock. Barclays PLC’s target price points to a potential upside of 12.66% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Vetr lowered Cisco Systems from a “buy” rating to a “hold” rating and set a $32.71 price target for the company. in a research report on Monday, September 5th. Jefferies Group reissued a “buy” rating and issued a $35.00 price target on shares of Cisco Systems in a research report on Monday, August 29th. Deutsche Bank AG increased their price target on Cisco Systems from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, September 14th. 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 research report on Friday, September 23rd. Finally, Bank of America Corp. reissued a “neutral” rating and issued a $33.00 price target on shares of Cisco Systems in a research report on Monday, September 26th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating, twenty-two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $32.73.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 30.18 on Thursday. Cisco Systems has a 12 month low of $22.46 and a 12 month high of $31.95. The stock has a 50 day moving average of $30.79 and a 200-day moving average of $29.97. The company has a market cap of $151.71 billion, a PE ratio of 14.44 and a beta of 1.42.
Cisco Systems (NASDAQ:CSCO) last issued its earnings results on Wednesday, November 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.02. Cisco Systems had a return on equity of 17.50% and a net margin of 21.73%. The company had revenue of $12.35 billion for the quarter, compared to analysts’ expectations of $12.34 billion. During the same period last year, the business earned $0.59 EPS. Cisco Systems’s quarterly revenue was down 2.6% compared to the same quarter last year. Equities analysts forecast that Cisco Systems will post $2.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Monday, October 3rd. Cisco Systems’s dividend payout ratio (DPR) is presently 49.52%.
In other Cisco Systems news, SVP Mark D. Chandler sold 62,910 shares of the company’s stock in a transaction dated Friday, September 23rd. The stock was sold at an average price of $31.40, for a total value of $1,975,374.00. Following the completion of the sale, the senior vice president now owns 286,628 shares in the company, valued at $9,000,119.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John T. Chambers sold 541,666 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $31.08, for a total value of $16,834,979.28. Following the completion of the sale, the insider now owns 2,008,697 shares of the company’s stock, valued at approximately $62,430,302.76. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Simmons Bank bought a new stake in shares of Cisco Systems during the first quarter worth approximately $5,610,000. Arete Wealth Advisors LLC boosted 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 during the last quarter. Geode Capital Management LLC boosted 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 during the last quarter. Loomis Sayles & Co. L P boosted 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 during the last quarter. Finally, Baker Avenue Asset Management LP bought a new stake in shares of Cisco Systems during the first quarter worth approximately $850,000. Institutional investors and hedge funds own 75.09% of the company’s stock.
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.
Receive News & Stock Ratings for Cisco Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems Inc. and related stocks with our FREE daily email newsletter.