Cisco Systems, Inc. (NASDAQ: CSCO) Expected to Report Quarterly Sales of $12.65 Billion
Stock analysts expect Cisco Systems, Inc. (NASDAQ:CSCO) to report revenue of $12.65 billion for the current fiscal quarter, Zacks reports. Eight analysts provided earnings estimates for Cisco Systems. The lowest sales estimate is $12.59 billion and the highest is $12.73 billion. Cisco Systems posted sales of $11.96 billion in the same quarter last year, suggesting a positive year-over-year growth rate of 5.8%. The company is expected to announce its next earnings report after the market closes on Wednesday, February 16.
According to Zacks, analysts expect Cisco Systems to report annual sales of $52.66 billion for the current fiscal year, with estimates ranging from $52.39 billion to $52.91 billion. For the next fiscal year, analysts expect the company to post sales of $55.44 billion, with estimates ranging from $54.90 billion to $56.04 billion. Zacks sales calculations are an average based on a survey of analysts who follow Cisco Systems.
Cisco Systems Inc (NASDAQ:CSCO) last announced its results on Tuesday, November 16. The networking equipment provider reported earnings per share of $0.82 for the quarter, beating Thomson Reuters consensus estimate of $0.80 by $0.02. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The company posted revenue of $12.90 billion for the quarter, versus a consensus estimate of $12.98 billion. During the same period of the previous year, the company achieved EPS of $0.68. The company’s revenue for the quarter increased 8.1% year over year.
Several research analysts have recently weighed in on CSCO shares. Goldman Sachs Group downgraded Cisco Systems from a “buy” rating to a “neutral” rating and set a target price of $65.00 for the stock. in a research note from Wednesday, January 19. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a target price of $60.00 on the stock in a Monday, Jan. 24 research note. Erste Group upgraded Cisco Systems from a “hold” rating to a “buy” rating in a Thursday, Dec. 9 research note. Credit Suisse Group lowered its price target on Cisco Systems from $74.00 to $73.00 and set an “outperform” rating on the stock in a Thursday, November 18 research note. Finally, Morgan Stanley raised its price target on Cisco Systems from $59.00 to $61.00 and gave the company an “equal weight” rating in a Wednesday, Dec. 15 research note. Twelve equity research analysts gave the stock a hold rating and ten gave the stock a buy rating. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.06.
Separately, CEO Charles Robbins sold 162,959 shares of the company in a trade dated Wednesday, November 24. The stock was sold at an average price of $55.45, for a total value of $9,036,076.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Additionally, SVP Prat Bhatt sold 468 shares of the company in a trade dated Tuesday, December 14. The stock was sold at an average price of $58.34, for a total value of $27,303.12. The disclosure of this sale can be found here. In the past three months, insiders have sold 176,149 shares of the company valued at $9,760,545. Insiders own 0.02% of the shares of the company.
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. Evolution Wealth Advisors LLC increased its holdings of Cisco Systems stock by 143.9% during the third quarter. Evolution Wealth Advisors LLC now owns 517 shares of the network equipment provider worth $28,000 after acquiring 305 additional shares in the last quarter. Econ Financial Services Corp acquired a new position in shares of Cisco Systems during the fourth quarter worth about $29,000. Lion Street Advisors LLC acquired a new position in Cisco Systems stock during the second quarter worth approximately $32,000. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. increased its Cisco Systems equity stake by 63.9% during the third quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 590 shares of the network equipment provider valued at $32,000 after acquiring an additional 230 shares in the last quarter. Finally, Sandy Cove Advisors LLC acquired a new position in Cisco Systems stock during the fourth quarter worth approximately $33,000. 71.71% of the shares are held by institutional investors.
CSCO shares opened at $55.15 on Friday. Cisco Systems has a 1-year minimum of $44.15 and a 1-year maximum of $64.29. The stock’s fifty-day moving average price is $59.12 and its 200-day moving average price is $57.29. The company has a debt ratio of 0.21, a current ratio of 1.62 and a quick ratio of 1.54. The company has a market cap of $232.60 billion, a price-to-earnings ratio of 20.50, a growth price-to-earnings ratio of 2.79, and a beta of 1.00.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 26. Shareholders of record on Wednesday, January 5 received a dividend of $0.37. The ex-dividend date was Tuesday, January 4. This represents an annualized dividend of $1.48 and a dividend yield of 2.68%. Cisco Systems’ dividend payout ratio (DPR) is currently 55.02%.
Cisco Systems Company Profile
Cisco Systems, Inc. is engaged in the design, manufacture, and sale of Internet Protocol-based networking products and services related to the communications and information technology industry. The Company operates through the following geographic segments: Americas, EMEA and APJC. Its products include the following categories: Switches, Routers, Wireless, Interfaces and Network Management Modules, Optical Networks, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Software Protection malware, VPN security clients, email and web security.
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