Cisco Systems, Inc. (CSCO) Earns Buy Rating from Robert W. Baird
Robert W. Baird reaffirmed their buy rating on shares of Cisco Systems, Inc. (NASDAQ:CSCO) in a report issued on Friday morning. The firm currently has a $38.00 price objective on the network equipment provider’s stock.
A number of other brokerages have also recently commented on CSCO. BMO Capital Markets restated a hold rating and issued a $32.00 price target on shares of Cisco Systems in a research report on Monday, October 23rd. Berenberg Bank restated a hold rating and issued a $33.00 price target on shares of Cisco Systems in a research report on Tuesday, October 24th. Needham & Company LLC restated a hold rating on shares of Cisco Systems in a research report on Tuesday, October 24th. Cowen and Company restated a buy rating and issued a $38.00 price target on shares of Cisco Systems in a research report on Friday, November 3rd. Finally, Oppenheimer Holdings, Inc. restated a buy rating and issued a $36.00 price target on shares of Cisco Systems in a research report on Tuesday, October 31st. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $35.26.
Shares of Cisco Systems (CSCO) traded down $0.06 on Friday, reaching $33.99. The company’s stock had a trading volume of 19,319,300 shares, compared to its average volume of 19,969,590. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03. The stock has a market capitalization of $168,110.00, a PE ratio of 15.66, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15. Cisco Systems has a fifty-two week low of $29.12 and a fifty-two week high of $34.75.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The business had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The business’s quarterly revenue was down 4.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.63 earnings per share. equities research analysts forecast that Cisco Systems will post 2.18 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 3.41%. Cisco Systems’s dividend payout ratio is presently 61.05%.
In other news, CAO Prat Bhatt sold 25,638 shares of Cisco Systems stock in a transaction 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 transaction, the chief accounting officer now directly owns 119,996 shares in the company, valued at approximately $3,847,071.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the transaction, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The disclosure for this sale can be found here. Insiders sold a total of 485,138 shares of company stock worth $15,347,574 over the last quarter. Company insiders own 0.05% of the company’s stock.
Large investors have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new position in Cisco Systems during the 2nd quarter worth $231,000. Barnett & Company Inc. grew its stake in Cisco Systems by 1,511.5% during the 2nd quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock worth $101,000 after buying an additional 3,023 shares during the last quarter. Tortoise Investment Management LLC grew its stake in Cisco Systems by 36.1% during the 2nd quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock worth $104,000 after buying an additional 878 shares during the last quarter. Mountain Capital Investment Advisors Inc purchased a new position in Cisco Systems during the 2nd quarter worth $104,000. Finally, Manchester Capital Management LLC grew its stake in Cisco Systems by 10.7% during the 2nd quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock worth $113,000 after buying an additional 350 shares during the last quarter. Institutional investors and hedge funds own 75.22% 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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