Citrix Systems, Inc. (CTXS) Expected to Announce Earnings of $1.04 Per Share
Brokerages predict that Citrix Systems, Inc. (NASDAQ:CTXS) will report earnings per share (EPS) of $1.04 for the current quarter, Zacks Investment Research reports. Nine analysts have made estimates for Citrix Systems’ earnings. The lowest EPS estimate is $1.03 and the highest is $1.05. Citrix Systems posted earnings of $1.32 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 21.2%. The company is expected to issue its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Citrix Systems will report full-year earnings of $4.62 per share for the current year, with EPS estimates ranging from $4.60 to $4.64. For the next year, analysts anticipate that the business will report earnings of $5.05 per share, with EPS estimates ranging from $4.53 to $5.62. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Citrix Systems.
Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings data on Wednesday, August 2nd. The cloud computing company reported $0.83 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.02). The company had revenue of $693.00 million for the quarter, compared to the consensus estimate of $690.83 million. Citrix Systems had a net margin of 15.08% and a return on equity of 31.07%. Citrix Systems’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.20 earnings per share.
Several brokerages have recently commented on CTXS. Wells Fargo & Company raised Citrix Systems from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $82.50 to $95.00 in a report on Monday. Royal Bank Of Canada reaffirmed a “hold” rating and set a $85.00 price target on shares of Citrix Systems in a report on Monday, September 4th. BTIG Research reiterated a “neutral” rating on shares of Citrix Systems in a research report on Wednesday, August 16th. Jefferies Group LLC reiterated a “sell” rating and issued a $61.00 price objective on shares of Citrix Systems in a research report on Friday, August 11th. Finally, MKM Partners reiterated a “buy” rating and issued a $90.00 price objective (down previously from $95.00) on shares of Citrix Systems in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $89.57.
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Hedge funds have recently made changes to their positions in the company. Fifth Third Bancorp raised its position in shares of Citrix Systems by 10.3% in the 1st quarter. Fifth Third Bancorp now owns 1,825 shares of the cloud computing company’s stock valued at $152,000 after acquiring an additional 171 shares during the period. Greenwood Capital Associates LLC boosted its stake in Citrix Systems by 12.0% during the 2nd quarter. Greenwood Capital Associates LLC now owns 2,689 shares of the cloud computing company’s stock worth $214,000 after acquiring an additional 289 shares during the last quarter. ZWJ Investment Counsel Inc. acquired a new position in Citrix Systems during the first quarter valued at approximately $225,000. Colony Group LLC acquired a new position in Citrix Systems during the second quarter valued at approximately $228,000. Finally, Global X Management Co. LLC grew its holdings in Citrix Systems by 18.4% during the first quarter. Global X Management Co. LLC now owns 2,877 shares of the cloud computing company’s stock valued at $240,000 after purchasing an additional 448 shares during the period. 93.62% of the stock is owned by institutional investors.
Shares of Citrix Systems (NASDAQ CTXS) traded up 3.49% during trading on Monday, reaching $79.50. 3,646,451 shares of the company were exchanged. The stock has a market capitalization of $12.05 billion, a P/E ratio of 23.38 and a beta of 1.49. Citrix Systems has a 52-week low of $64.79 and a 52-week high of $87.99. The stock has a 50-day moving average of $76.24 and a 200 day moving average of $80.49.
Citrix Systems Company Profile
Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.
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