Jefferies Group Weighs in on Cisco Systems, Inc.’s Q2 2018 Earnings (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) – Research analysts at Jefferies Group reduced their Q2 2018 earnings per share estimates for shares of Cisco Systems in a report issued on Thursday. Jefferies Group analyst G. Notter now forecasts that the network equipment provider will earn $0.52 per share for the quarter, down from their prior forecast of $0.53. Jefferies Group currently has a “Buy” rating and a $40.00 target price on the stock. Jefferies Group also issued estimates for Cisco Systems’ Q2 2019 earnings at $0.55 EPS.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.01. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. ILLEGAL ACTIVITY NOTICE: This story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this story on another website, it was stolen and reposted in violation of US and international copyright and trademark legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2017/11/21/jefferies-group-weighs-in-on-cisco-systems-inc-s-q2-2018-earnings-csco.html.
Other research analysts have also recently issued research reports about the company. Stifel Nicolaus set a $34.00 price target on Cisco Systems and gave the stock a “hold” rating in a research report on Tuesday, August 15th. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research report on Friday, August 18th. Deutsche Bank AG restated a “buy” rating and issued a $40.00 price target on shares of Cisco Systems in a research report on Tuesday, August 8th. BidaskClub upgraded Cisco Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, Vetr cut Cisco Systems from a “buy” rating to a “hold” rating and set a $33.18 price target on the stock. in a research report on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $36.73.
Cisco Systems (NASDAQ:CSCO) traded up $0.17 on Monday, hitting $36.68. The stock had a trading volume of 14,133,422 shares, compared to its average volume of 20,241,834. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $36.67. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $181,630.00, a P/E ratio of 16.54, a P/E/G ratio of 3.17 and a beta of 1.15.
Institutional investors have recently made changes to their positions in the stock. Barnett & Company Inc. grew its holdings in Cisco Systems by 1,511.5% during the second 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 in the last quarter. Tortoise Investment Management LLC grew its holdings in Cisco Systems by 36.1% during the second 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 in the last quarter. Mountain Capital Investment Advisors Inc bought a new stake in Cisco Systems during the second quarter worth $104,000. Grove Bank & Trust grew its holdings in Cisco Systems by 141.3% during the second quarter. Grove Bank & Trust now owns 3,620 shares of the network equipment provider’s stock worth $113,000 after buying an additional 2,120 shares in the last quarter. Finally, Manchester Capital Management LLC grew its holdings in Cisco Systems by 10.7% during the second 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 in the last quarter. Institutional investors and hedge funds own 75.14% of the company’s stock.
In related news, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now owns 729,305 shares in the company, valued at $22,710,557.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Prat Bhatt sold 25,638 shares of the company’s 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 sale, the chief accounting officer now owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 485,138 shares of company stock valued at $15,347,574. Corporate insiders own 0.05% of the company’s stock.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Stockholders of record on Thursday, October 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 annualized dividend and a dividend yield of 3.16%. Cisco Systems’s dividend payout ratio is 60.10%.
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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