Cisco Systems, Inc. (CSCO) Updates Q1 Earnings Guidance
Cisco Systems, Inc. (NASDAQ:CSCO) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.59-0.61 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.60. The company issued revenue guidance of down 1-3% to ~$11.98-12.23 billion, compared to the consensus revenue estimate of $12.08 billion.
A number of brokerages recently commented on CSCO. Robert W. Baird reiterated a buy rating on shares of Cisco Systems in a report on Thursday, May 18th. Drexel Hamilton reiterated a buy rating and set a $40.00 price target on shares of Cisco Systems in a report on Tuesday, May 23rd. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $36.00 price target on shares of Cisco Systems in a report on Monday, June 26th. Piper Jaffray Companies reiterated a buy rating and set a $36.00 price target on shares of Cisco Systems in a report on Thursday. Finally, Jefferies Group LLC reiterated a buy rating and set a $37.00 price target on shares of Cisco Systems in a report on Wednesday, April 26th. Fourteen investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $35.38.
Shares of Cisco Systems, Inc. (CSCO) opened at 32.34 on Thursday. The company has a 50 day moving average price of $31.54 and a 200 day moving average price of $32.57. Cisco Systems, Inc. has a 1-year low of $29.12 and a 1-year high of $34.60. The stock has a market cap of $161.70 billion, a P/E ratio of 16.42 and a beta of 1.24. Cisco Systems also saw unusually large options trading activity on Tuesday. Stock investors bought 24,568 put options on the company. This is an increase of approximately 223% compared to the average daily volume of 7,606 put options.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $12.13 billion during the quarter, compared to the consensus estimate of $12.07 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. Cisco Systems’s revenue for the quarter was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. On average, equities analysts anticipate that Cisco Systems, Inc. will post $2.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 26th. Investors of record on Friday, July 7th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date was Wednesday, July 5th. Cisco Systems’s dividend payout ratio (DPR) is 58.29%.
In related news, insider John T. Chambers sold 295,537 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Rebecca Jacoby sold 92,840 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at approximately $8,616,399.75. The disclosure for this sale can be found here. Insiders sold 396,179 shares of company stock valued at $12,503,407 in the last three months. 0.11% of the stock is currently owned by insiders.
TRADEMARK VIOLATION NOTICE: “Cisco Systems, Inc. (CSCO) Updates Q1 Earnings Guidance” was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another site, it was copied illegally and republished in violation of US and international trademark & copyright law. The correct version of this story can be read at https://www.thecerbatgem.com/2017/08/17/cisco-systems-inc-csco-updates-q1-earnings-guidance.html.
Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. raised its position in Cisco Systems by 3.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 766,065 shares of the network equipment provider’s stock valued at $23,979,000 after buying an additional 24,593 shares in the last quarter. Benchmark Capital Advisors purchased a new position in Cisco Systems during the second quarter valued at about $714,000. Clal Insurance Enterprises Holdings Ltd raised its position in Cisco Systems by 24.9% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 94,675 shares of the network equipment provider’s stock valued at $2,963,000 after buying an additional 18,875 shares in the last quarter. Providence First Trust Co purchased a new position in Cisco Systems during the second quarter valued at about $1,679,000. Finally, Delta Lloyd Asset Management N.V. purchased a new position in Cisco Systems during the second quarter valued at about $57,023,000. 75.28% of the stock is currently owned by institutional investors and hedge funds.
About Cisco Systems
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).
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.