Cisco Systems, Inc. (CSCO) Given a $33.00 Price Target by KeyCorp Analysts
Cisco Systems, Inc. (NASDAQ:CSCO) has been given a $33.00 price objective by stock analysts at KeyCorp in a report released on Wednesday. The brokerage presently has a “buy” rating on the network equipment provider’s stock. KeyCorp’s price target points to a potential downside of 0.78% from the stock’s previous close.
CSCO has been the subject of a number of other reports. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Drexel Hamilton reaffirmed a “buy” rating and set a $39.00 target price on shares of Cisco Systems in a research report on Sunday, June 25th. Deutsche Bank AG reaffirmed a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research report on Tuesday, June 13th. Sanford C. Bernstein set a $38.00 target price on Cisco Systems and gave the company a “buy” rating in a research report on Saturday, July 1st. Finally, Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $32.45 target price for the company in a research report on Thursday, July 6th. Fifteen investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Cisco Systems currently has a consensus rating of “Buy” and a consensus price target of $35.30.
Cisco Systems (NASDAQ:CSCO) opened at 33.26 on Wednesday. Cisco Systems has a 1-year low of $29.12 and a 1-year high of $34.60. The stock’s 50 day moving average price is $32.70 and its 200 day moving average price is $32.35. The stock has a market capitalization of $164.70 billion, a PE ratio of 17.51 and a beta of 1.21.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm had revenue of $12.13 billion during the quarter, compared to analyst estimates of $12.07 billion. During the same period last year, the company earned $0.63 EPS. Cisco Systems’s quarterly revenue was down 4.0% compared to the same quarter last year. On average, equities research analysts predict that Cisco Systems will post $2.43 earnings per share for the current fiscal year.
In related news, CAO Prat Bhatt sold 25,638 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total value of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at $3,847,071.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Mark D. Chandler sold 65,000 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. Insiders sold 485,138 shares of company stock valued at $15,347,574 over the last 90 days. Company insiders own 0.11% of the company’s stock.
A number of institutional investors have recently modified their holdings of CSCO. CGOV Asset Management grew its position in Cisco Systems by 7.3% in the first quarter. CGOV Asset Management now owns 544,815 shares of the network equipment provider’s stock worth $24,532,000 after acquiring an additional 37,266 shares during the period. Granite Investment Advisors LLC grew its position in Cisco Systems by 2.6% in the first quarter. Granite Investment Advisors LLC now owns 25,726 shares of the network equipment provider’s stock worth $870,000 after acquiring an additional 641 shares during the period. Ledyard National Bank grew its position in Cisco Systems by 1.5% in the first quarter. Ledyard National Bank now owns 365,375 shares of the network equipment provider’s stock worth $12,350,000 after acquiring an additional 5,255 shares during the period. Boys Arnold & Co. Inc. grew its position in Cisco Systems by 5.3% in the first quarter. Boys Arnold & Co. Inc. now owns 72,415 shares of the network equipment provider’s stock worth $2,448,000 after acquiring an additional 3,670 shares during the period. Finally, Johanson Financial Advisors Inc. purchased a new position in Cisco Systems in the first quarter worth approximately $915,000. Institutional investors own 75.38% of the company’s stock.
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).
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