Cisco Systems, Inc. (CSCO) Receives Outperform Rating from Credit Suisse Group
Credit Suisse Group restated their outperform rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report released on Monday. They currently have a $40.00 price target on the network equipment provider’s stock.
A number of other equities research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Cisco Systems from a hold rating to a sell rating in a research report on Tuesday, April 18th. Morgan Stanley upgraded shares of Cisco Systems from an equal weight rating to an overweight rating and lifted their price target for the company from $33.45 to $39.00 in a research report on Monday, May 15th. Deutsche Bank AG lifted their price target on shares of Cisco Systems from $40.00 to $42.00 and gave the company a buy rating in a research report on Thursday, March 23rd. Barclays PLC reiterated an overweight rating on shares of Cisco Systems in a research report on Saturday, April 22nd. Finally, Vetr upgraded shares of Cisco Systems from a buy rating to a strong-buy rating and set a $37.32 price target for the company in a research report on Tuesday, April 11th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Cisco Systems has an average rating of Buy and an average price target of $35.25.
Cisco Systems (NASDAQ CSCO) traded down 1.0351% during midday trading on Monday, reaching $31.9063. The company’s stock had a trading volume of 12,565,043 shares. The firm has a market capitalization of $159.53 billion, a P/E ratio of 16.1961 and a beta of 1.23. Cisco Systems has a 52 week low of $27.13 and a 52 week high of $34.60. The company’s 50-day moving average is $32.44 and its 200 day moving average is $32.24.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company had revenue of $11.94 billion during the quarter, compared to the consensus estimate of $11.90 billion. During the same period last year, the firm earned $0.57 EPS. The company’s revenue for the quarter was down .5% on a year-over-year basis. Analysts expect that Cisco Systems will post $2.38 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 26th. Shareholders of record on Friday, July 7th will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 dividend on an annualized basis and a yield of 3.60%. Cisco Systems’s dividend payout ratio is currently 58.29%.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total value of $2,943,956.40. Following the transaction, the senior vice president now owns 271,725 shares in the company, valued at approximately $8,616,399.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Insiders sold a total of 396,179 shares of company stock worth $12,503,407 in the last quarter. 0.11% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of CSCO. Southeast Asset Advisors Inc. raised its position in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares in the last quarter. Eagle Ridge Investment Management raised its position in shares of Cisco Systems by 0.6% in the first quarter. Eagle Ridge Investment Management now owns 8,462 shares of the network equipment provider’s stock worth $286,000 after buying an additional 47 shares in the last quarter. Front Street Capital Management Inc. raised its position in shares of Cisco Systems by 0.5% in the first quarter. Front Street Capital Management Inc. now owns 11,478 shares of the network equipment provider’s stock worth $388,000 after buying an additional 53 shares in the last quarter. Farmers National Bank raised its position in shares of Cisco Systems by 1.3% in the first quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock worth $201,000 after buying an additional 83 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its position in shares of Cisco Systems by 0.9% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 10,795 shares of the network equipment provider’s stock worth $370,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 76.14% of the company’s stock.
Cisco Systems Company Profile
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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