Cisco Systems, Inc. (CSCO) Rating Reiterated by Royal Bank Of Canada
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “buy” rating restated by investment analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday. They presently have a $36.00 target price on the network equipment provider’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 0.28% from the stock’s previous close.
Other analysts have also issued research reports about the company. Drexel Hamilton restated a “buy” rating and issued a $39.00 price objective on shares of Cisco Systems in a research note on Tuesday, August 15th. Credit Suisse Group reiterated a “buy” rating on shares of Cisco Systems in a research note on Thursday, August 10th. Deutsche Bank AG reiterated a “buy” rating and set a $40.00 target price on shares of Cisco Systems in a research note on Tuesday, August 8th. Robert W. Baird set a $38.00 target price on Cisco Systems and gave the stock a “buy” rating in a research note on Monday, August 7th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $37.00 target price on shares of Cisco Systems in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twenty-two have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $36.67.
Cisco Systems (NASDAQ:CSCO) traded up $0.02 during trading hours on Wednesday, reaching $35.90. The company’s stock had a trading volume of 27,493,789 shares, compared to its average volume of 17,720,000. The company has a quick ratio of 2.98, a current ratio of 3.03 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $177,770.00, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 2.98 and a beta of 1.15. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $36.67.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion for the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a return on equity of 16.67% and a net margin of 20.26%. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities research analysts forecast that Cisco Systems will post 2.18 earnings per share for the current fiscal year.
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In related news, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total value of $7,785,000.00. Following the completion of the sale, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Mark D. Chandler sold 65,000 shares of Cisco Systems stock in a transaction dated Monday, September 18th. The shares were 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 a total of 485,138 shares of company stock valued at $15,347,574 over the last ninety days. 0.05% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CSCO. Boston Partners boosted its stake in Cisco Systems by 304.2% during the 1st quarter. Boston Partners now owns 30,563,666 shares of the network equipment provider’s stock valued at $1,033,052,000 after purchasing an additional 23,002,159 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Cisco Systems by 23.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after buying an additional 11,972,070 shares during the last quarter. Stifel Financial Corp boosted its stake in shares of Cisco Systems by 6,109.5% in the 3rd quarter. Stifel Financial Corp now owns 8,147,775 shares of the network equipment provider’s stock worth $273,977,000 after buying an additional 8,016,561 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Cisco Systems by 54.2% in the 2nd quarter. American Century Companies Inc. now owns 14,362,422 shares of the network equipment provider’s stock worth $449,544,000 after buying an additional 5,049,326 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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