Equities analysts forecast that Cisco Systems, Inc. (NASDAQ:CSCO) will report $12.40 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have issued estimates for Cisco Systems’ earnings, with the lowest sales estimate coming in at $12.34 billion and the highest estimate coming in at $12.50 billion. Cisco Systems reported sales of $11.94 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The firm is expected to report its next earnings results on Wednesday, May 16th.
On average, analysts expect that Cisco Systems will report full year sales of $12.40 billion for the current year, with estimates ranging from $48.91 billion to $49.42 billion. For the next financial year, analysts expect that the company will post sales of $50.51 billion per share, with estimates ranging from $49.90 billion to $51.41 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $11.89 billion for the quarter, compared to analysts’ expectations of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same quarter in the previous year, the firm posted $0.57 EPS.
Several research firms have issued reports on CSCO. Barclays upped their price target on shares of Cisco Systems from $37.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, January 17th. Nomura raised shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Monday, February 12th. Stifel Nicolaus reaffirmed a “hold” rating and set a $40.00 price objective on shares of Cisco Systems in a research note on Thursday, December 14th. Zacks Investment Research raised shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, February 21st. Finally, Vetr downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $46.32 price objective for the company. in a research note on Monday. Ten equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $44.23.
In other Cisco Systems news, Director M Michele Burns sold 12,126 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $45.37, for a total value of $550,156.62. Following the sale, the director now directly owns 74,479 shares of the company’s stock, valued at $3,379,112.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arun Sarin sold 14,189 shares of the stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $44.10, for a total value of $625,734.90. The disclosure for this sale can be found here. Over the last three months, insiders have sold 46,986 shares of company stock worth $2,116,422. Corporate insiders own 0.05% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of CSCO. Bank of New York Mellon Corp raised its stake in shares of Cisco Systems by 12.8% during the 4th quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after purchasing an additional 13,927,416 shares in the last quarter. Ameriprise Financial Inc. raised 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 valued at $2,109,614,000 after acquiring an additional 11,972,070 shares in the last quarter. Amundi Pioneer Asset Management Inc. raised its stake in shares of Cisco Systems by 91.0% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 19,498,882 shares of the network equipment provider’s stock valued at $746,806,000 after acquiring an additional 9,292,187 shares in the last quarter. Stifel Financial Corp raised 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 valued at $273,977,000 after acquiring an additional 8,016,561 shares in the last quarter. Finally, Vanguard Group Inc. raised 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 valued at $11,021,378,000 after acquiring an additional 7,411,891 shares in the last quarter. 77.57% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:CSCO traded up $1.20 during midday trading on Friday, hitting $42.37. The company had a trading volume of 14,307,046 shares, compared to its average volume of 29,424,490. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $46.16. The firm has a market capitalization of $196,217.52, a PE ratio of 19.70, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The company has a debt-to-equity ratio of 0.49, a quick ratio of 2.38 and a current ratio of 2.43.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.12%. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is 61.40%.
Cisco Systems announced that its board has initiated a stock buyback plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.
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About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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