Cisco Systems (CSCO) Shares Gap Up Following Analyst Upgrade
Cisco Systems, Inc. (NASDAQ:CSCO)’s share price gapped up prior to trading on Monday after Citigroup raised their price target on the stock from $40.00 to $46.00. The stock had previously closed at $38.55, but opened at $39.53. Citigroup currently has a buy rating on the stock. Cisco Systems shares last traded at $40.60, with a volume of 38095480 shares changing hands.
Other equities analysts also recently issued research reports about the company. Jefferies Group upped their price objective on Cisco Systems to $40.00 and gave the company a “buy” rating in a research note on Thursday, November 16th. Oppenheimer reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Friday, October 20th. Royal Bank of Canada reiterated a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research note on Wednesday, November 15th. Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $35.49 price objective on the stock in a research note on Monday, November 13th. Finally, Robert W. Baird reissued a “buy” rating and set a $38.00 target price on shares of Cisco Systems in a report on Friday, November 10th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $40.38.
In other Cisco Systems news, Director Roderick C. Mcgeary sold 15,230 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares in the company, valued at $4,299,852. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Karen Walker sold 5,786 shares of the company’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the sale, the senior vice president now owns 176,418 shares of the company’s stock, valued at $6,437,492.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,643 shares of company stock valued at $12,892,271. Company insiders own 0.05% of the company’s stock.
The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The company has a market capitalization of $203,830.00, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 3.55 and a beta of 1.23.
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. The company had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. Cisco Systems’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. equities research analysts predict that Cisco Systems, Inc. will post 2.23 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th were issued a dividend of $0.29 per share. The ex-dividend date of this dividend was Thursday, January 4th. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.81%. Cisco Systems’s dividend payout ratio is currently 60.10%.
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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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