Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research report issued on Friday, May 12th. They currently have a $36.00 target price on the network equipment provider’s stock, down from their previous target price of $37.00. Royal Bank of Canada’s target price points to a potential upside of 14.72% from the stock’s previous close.
A number of other research firms have also commented on CSCO. BMO Capital Markets restated an “outperform” rating and issued a $33.00 price target on shares of Cisco Systems in a research report on Thursday, January 12th. William Blair restated an “outperform” rating on shares of Cisco Systems in a research report on Thursday, February 16th. Vetr lowered shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 price target on the stock. in a research report on Wednesday, April 26th. Berenberg Bank started coverage on shares of Cisco Systems in a research report on Tuesday, April 4th. They issued a “hold” rating and a $35.00 price target on the stock. Finally, Robert W. Baird restated a “buy” rating on shares of Cisco Systems in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $35.05.
Shares of Cisco Systems (NASDAQ:CSCO) opened at 31.38 on Friday. The firm has a 50 day moving average of $33.42 and a 200 day moving average of $32.02. Cisco Systems has a 52 week low of $27.13 and a 52 week high of $34.60. The firm has a market cap of $157.15 billion, a price-to-earnings ratio of 16.18 and a beta of 1.36.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.02. The firm had revenue of $11.94 billion for the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The company’s revenue for the quarter was down .5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.57 earnings per share. Equities analysts predict that Cisco Systems will post $2.38 earnings per share for the current fiscal year.
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In related news, SVP Mark D. Chandler sold 16,000 shares of the stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $34.04, for a total transaction of $544,640.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven M. West bought 3,027 shares of Cisco Systems stock in a transaction that occurred on Wednesday, February 22nd. The shares were acquired at an average price of $33.92 per share, with a total value of $102,675.84. Following the acquisition, the director now directly owns 3,700 shares of the company’s stock, valued at approximately $125,504. The disclosure for this purchase can be found here. Insiders have sold 371,807 shares of company stock valued at $12,668,893 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ironwood Investment Management LLC raised its stake in Cisco Systems by 0.3% in the third quarter. Ironwood Investment Management LLC now owns 13,894 shares of the network equipment provider’s stock valued at $441,000 after buying an additional 36 shares during the period. Southeast Asset Advisors Inc. raised its stake in Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock valued at $312,000 after buying an additional 44 shares during the period. Eagle Ridge Investment Management raised its stake in Cisco Systems by 0.6% in the first quarter. Eagle Ridge Investment Management now owns 8,462 shares of the network equipment provider’s stock valued at $286,000 after buying an additional 47 shares during the period. Front Street Capital Management Inc. raised its stake in Cisco Systems by 0.5% in the first quarter. Front Street Capital Management Inc. now owns 11,478 shares of the network equipment provider’s stock valued at $388,000 after buying an additional 53 shares during the period. Finally, Farmers National Bank raised its stake in Cisco Systems by 1.3% in the first quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock valued at $201,000 after buying an additional 83 shares during the period. Institutional investors and hedge funds own 75.24% of the company’s stock.
About Cisco Systems
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).
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