Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank Of Canada in a report released on Friday, May 12th, MarketBeat Ratings reports. They presently 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 price target would indicate a potential upside of 13.85% from the stock’s previous close.
A number of other brokerages have also recently commented on CSCO. BMO Capital Markets reaffirmed an “outperform” rating and issued a $33.00 target price on shares of Cisco Systems in a report on Thursday, January 12th. William Blair reaffirmed an “outperform” rating on shares of Cisco Systems in a report on Thursday, February 16th. Vetr cut shares of Cisco Systems from a “strong-buy” rating to a “buy” rating and set a $37.03 target price on the stock. in a report on Wednesday, April 26th. Berenberg Bank initiated coverage on shares of Cisco Systems in a report on Tuesday, April 4th. They issued a “hold” rating and a $35.00 target price on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Cisco Systems in a report on Tuesday, February 21st. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $35.19.
Shares of Cisco Systems (NASDAQ CSCO) traded up 0.16% during trading on Friday, hitting $31.63. 36,367,419 shares of the stock traded hands. The stock has a market cap of $158.15 billion, a PE ratio of 16.06 and a beta of 1.23. Cisco Systems has a 12 month low of $27.13 and a 12 month high of $34.60. The firm’s 50-day moving average price is $32.56 and its 200-day moving average price is $32.16.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. The company had revenue of $11.94 billion for the quarter, compared to analysts’ expectations of $11.90 billion. During the same quarter last year, the company earned $0.57 earnings per share. The firm’s revenue for the quarter was down .5% on a year-over-year basis. Analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a dividend of $0.29 per share. The ex-dividend date is Wednesday, July 5th. This represents a $1.16 annualized dividend and a yield of 3.67%. Cisco Systems’s dividend payout ratio is currently 58.29%.
In related news, SVP Karen Walker sold 7,802 shares of the stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the sale, the senior vice president now directly owns 178,577 shares of the company’s stock, valued at approximately $5,587,674.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The disclosure for this sale can be found here. Insiders have sold 396,179 shares of company stock valued at $12,503,407 in the last ninety days. Company insiders own 0.11% of the company’s stock.
Several large investors have recently bought and sold shares of CSCO. Edmond DE Rothschild Monaco purchased a new stake in Cisco Systems during the third quarter worth $111,000. Seven Eight Capital LP bought a new position in shares of Cisco Systems during the fourth quarter worth $112,000. Financial Management Professionals Inc. increased its position in shares of Cisco Systems by 17.7% in the first quarter. Financial Management Professionals Inc. now owns 4,218 shares of the network equipment provider’s stock worth $118,000 after buying an additional 635 shares during the last quarter. Watermark Asset Management Inc. bought a new position in shares of Cisco Systems during the first quarter worth $122,000. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in shares of Cisco Systems during the fourth quarter worth $128,000. 76.11% of the stock is owned by institutional investors.
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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