KeyCorp Reaffirms “Overweight” Rating for Cisco Systems (CSCO)

KeyCorp reissued their overweight rating on shares of Cisco Systems (NASDAQ:CSCO) in a research report released on Friday, Marketbeat Ratings reports. The brokerage currently has a $43.00 price target on the network equipment provider’s stock, up from their previous price target of $39.00.

CSCO has been the topic of a number of other research reports. BMO Capital Markets reissued a hold rating and set a $32.00 price target on shares of Cisco Systems in a research report on Thursday, September 28th. Vetr downgraded Cisco Systems from a buy rating to a hold rating and set a $34.13 price target on the stock. in a research report on Monday, September 25th. Piper Jaffray Companies reissued an overweight rating and set a $44.00 price target on shares of Cisco Systems in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Cisco Systems from a buy rating to a hold rating in a research report on Thursday. Finally, Credit Suisse Group reissued a hold rating and set a $35.00 price target on shares of Cisco Systems in a research report on Friday, October 6th. Thirteen investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. Cisco Systems currently has a consensus rating of Buy and an average target price of $38.80.

Shares of Cisco Systems (CSCO) traded down $0.01 during trading on Friday, reaching $41.29. The company’s stock had a trading volume of 24,582,000 shares, compared to its average volume of 23,031,861. The company has a market cap of $205,060.00, a P/E ratio of 21.39, a PEG ratio of 3.73 and a beta of 1.19. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. Cisco Systems has a 12 month low of $30.00 and a 12 month high of $41.52.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. Cisco Systems’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. equities analysts anticipate that Cisco Systems will post 2.21 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 24th. Stockholders of record on Friday, January 5th will be issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date is Thursday, January 4th. Cisco Systems’s dividend payout ratio is presently 60.10%.

In other news, CAO Prat Bhatt sold 2,606 shares of the stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the transaction, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at $3,254,324.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the transaction, the insider now directly owns 712,736 shares in the company, valued at $26,014,864. The disclosure for this sale can be found here. Insiders sold 348,643 shares of company stock worth $12,892,271 over the last three months. Corporate insiders own 0.05% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in Cisco Systems during the second quarter worth about $231,000. Stonehearth Capital Management LLC acquired a new stake in Cisco Systems during the fourth quarter worth about $102,000. 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 acquiring an additional 3,023 shares during the period. 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 acquiring an additional 878 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in Cisco Systems during the second quarter worth about $104,000. 75.59% of the stock is currently owned by institutional investors and hedge funds.

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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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

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