Cisco Systems, Inc. (NASDAQ:CSCO) has received an average recommendation of “Buy” from the thirty-six research firms that are presently covering the company, Marketbeat Ratings reports. Eleven analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $45.90.
CSCO has been the subject of a number of research analyst reports. Loop Capital initiated coverage on shares of Cisco Systems in a report on Monday, January 29th. They set a “hold” rating and a $45.00 price objective for the company. Vetr upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $44.13 price objective for the company in a report on Tuesday, January 30th. Zacks Investment Research upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating and set a $48.00 price objective for the company in a report on Wednesday, January 31st. ValuEngine upgraded shares of Cisco Systems from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Goldman Sachs initiated coverage on shares of Cisco Systems in a report on Wednesday, February 7th. They set a “buy” rating and a $48.00 price objective for the company.
In other news, Director M Michele Burns sold 12,126 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $45.37, for a total value of $550,156.62. Following the completion of the transaction, the director now directly owns 74,479 shares in the company, valued at $3,379,112.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP David Goeckeler sold 20,671 shares of the firm’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $45.50, for a total transaction of $940,530.50. The disclosure for this sale can be found here. 0.05% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the company. Summit Trail Advisors LLC lifted its position in Cisco Systems by 18.4% during the first quarter. Summit Trail Advisors LLC now owns 129,121 shares of the network equipment provider’s stock valued at $4,814,000 after purchasing an additional 20,032 shares during the last quarter. WINTON GROUP Ltd lifted its position in Cisco Systems by 778.9% during the first quarter. WINTON GROUP Ltd now owns 577,880 shares of the network equipment provider’s stock valued at $24,785,000 after purchasing an additional 512,128 shares during the last quarter. Rational Advisors LLC lifted its position in Cisco Systems by 31.5% during the first quarter. Rational Advisors LLC now owns 48,798 shares of the network equipment provider’s stock valued at $2,092,000 after purchasing an additional 11,677 shares during the last quarter. Wesbanco Bank Inc. lifted its position in Cisco Systems by 8.0% during the first quarter. Wesbanco Bank Inc. now owns 309,086 shares of the network equipment provider’s stock valued at $13,257,000 after purchasing an additional 22,830 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its position in Cisco Systems by 63.7% during the first quarter. CIBC World Markets Inc. now owns 663,785 shares of the network equipment provider’s stock valued at $28,470,000 after purchasing an additional 258,286 shares during the last quarter. Institutional investors own 73.89% of the company’s stock.
Shares of CSCO stock opened at $43.65 on Friday. The stock has a market capitalization of $210.77 billion, a PE ratio of 20.30, a PEG ratio of 3.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.34 and a quick ratio of 2.28. Cisco Systems has a one year low of $30.36 and a one year high of $46.37.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company had revenue of $12.46 billion during the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. During the same quarter in the prior year, the company posted $0.60 earnings per share. equities research analysts anticipate that Cisco Systems will post 2.34 earnings per share for the current fiscal year.
Cisco Systems declared that its Board of Directors has authorized a share repurchase program on Wednesday, February 14th that allows the company to buyback $25.00 billion in shares. This buyback authorization allows the network equipment provider to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
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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