Vetr Lowers Cisco Systems (CSCO) to Sell

Vetr downgraded shares of Cisco Systems (NASDAQ:CSCO) from a hold rating to a sell rating in a report issued on Wednesday morning. Vetr currently has $35.93 target price on the network equipment provider’s stock.

A number of other equities research analysts also recently commented on the stock. Sanford C. Bernstein restated a buy rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Monday, November 27th. Argus raised their price objective on shares of Cisco Systems from $41.00 to $44.00 and gave the company a buy rating in a research report on Friday, November 17th. Cowen restated a buy rating on shares of Cisco Systems in a research report on Friday, November 17th. MKM Partners raised their price objective on shares of Cisco Systems to $38.00 and gave the company a neutral rating in a research report on Thursday, November 16th. Finally, Robert W. Baird restated a buy rating on shares of Cisco Systems in a research report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $36.80.

Shares of Cisco Systems (NASDAQ:CSCO) opened at $37.60 on Wednesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 2.87 and a quick ratio of 2.81. The company has a market cap of $184,397.09, a PE ratio of 17.19, a P/E/G ratio of 3.37 and a beta of 1.19. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $38.03.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 15th. The network equipment provider reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. The firm’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.61 earnings per share. equities analysts forecast that Cisco Systems will post 2.21 EPS for the current year.

In related news, CAO Prat Bhatt sold 2,606 shares of the company’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $95,092.94. Following the completion of the sale, the chief accounting officer now directly owns 89,184 shares of the company’s stock, valued at approximately $3,254,324.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now directly owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The disclosure for this sale can be found here. Insiders have sold a total of 493,530 shares of company stock valued at $16,993,798 over the last three months. Corporate insiders own 0.05% of the company’s stock.

A number of institutional investors have recently made changes to their positions in CSCO. Stratos Wealth Partners LTD. raised its stake in shares of Cisco Systems by 10.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock valued at $4,789,000 after purchasing an additional 14,395 shares in the last quarter. Eads & Heald Investment Counsel raised its stake in shares of Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after purchasing an additional 5,765 shares in the last quarter. Richard Bernstein Advisors LLC raised its stake in shares of Cisco Systems by 21.2% in the 2nd quarter. Richard Bernstein Advisors LLC now owns 269,441 shares of the network equipment provider’s stock valued at $8,434,000 after purchasing an additional 47,211 shares in the last quarter. Washington Trust Bank grew its position in shares of Cisco Systems by 2.5% during the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock valued at $3,542,000 after buying an additional 2,726 shares during the last quarter. Finally, Holderness Investments Co. grew its position in shares of Cisco Systems by 12.1% during the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after buying an additional 7,186 shares during the last quarter. 75.66% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Vetr Lowers Cisco Systems (CSCO) to Sell” was first reported by Community Financial News and is owned by of Community Financial News. If you are reading this news story on another site, it was copied illegally and republished in violation of United States & international copyright and trademark law. The correct version of this news story can be viewed at https://www.com-unik.info/2017/12/03/vetr-lowers-cisco-systems-csco-to-sell.html.

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).

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

What are top analysts saying about Cisco Systems Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Cisco Systems Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit