Cisco Systems (NASDAQ:CSCO) Updates Q2 2022 Earnings Guidance

Cisco Systems (NASDAQ:CSCO) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.800-$0.820 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.820. The company issued revenue guidance of $12.50 billion-$12.74 billion, compared to the consensus revenue estimate of $12.85 billion.Cisco Systems also updated its FY 2022 guidance to $3.380-$3.450 EPS.

Shares of NASDAQ:CSCO traded up $0.24 during trading on Thursday, reaching $55.54. 19,324,937 shares of the stock traded hands, compared to its average volume of 18,948,041. The stock has a 50-day moving average of $55.81 and a two-hundred day moving average of $55.24. Cisco Systems has a 52-week low of $42.21 and a 52-week high of $60.27. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 1.62. The stock has a market cap of $234.25 billion, a P/E ratio of 20.65, a price-to-earnings-growth ratio of 2.48 and a beta of 0.92.

Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.02. Cisco Systems had a net margin of 22.44% and a return on equity of 30.59%. The firm had revenue of $12.90 billion for the quarter, compared to analysts’ expectations of $12.98 billion. During the same quarter in the prior year, the company posted $0.68 earnings per share. The business’s revenue for the quarter was up 8.1% on a year-over-year basis. Sell-side analysts expect that Cisco Systems will post 3.07 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 27th. Investors of record on Tuesday, October 5th were issued a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend was Monday, October 4th. Cisco Systems’s dividend payout ratio is currently 55.02%.

Several equities research analysts recently issued reports on the stock. Needham & Company LLC restated a hold rating on shares of Cisco Systems in a report on Thursday, September 16th. Credit Suisse Group dropped their target price on shares of Cisco Systems from $74.00 to $73.00 and set an outperform rating on the stock in a report on Thursday, November 18th. Barclays lifted their price target on shares of Cisco Systems from $55.00 to $62.00 and gave the stock an overweight rating in a research note on Thursday, August 19th. They noted that the move was a valuation call. JPMorgan Chase & Co. set a $70.00 price target on shares of Cisco Systems in a research note on Thursday, September 16th. Finally, Raymond James lifted their price target on shares of Cisco Systems from $57.00 to $64.00 and gave the stock an outperform rating in a research note on Thursday, September 16th. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus target price of $62.24.

In other Cisco Systems news, SVP Prat Bhatt sold 12,722 shares of Cisco Systems stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $54.80, for a total value of $697,165.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.02% of the company’s stock.

Cisco Systems Company Profile

Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.

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Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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