Zacks: Brokerages Expect Citrix Systems, Inc. (CTXS) Will Post Earnings of $1.04 Per Share

Wall Street analysts forecast that Citrix Systems, Inc. (NASDAQ:CTXS) will announce $1.04 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Citrix Systems’ earnings, with estimates ranging from $0.98 to $1.07. Citrix Systems reported earnings per share of $0.97 during the same quarter last year, which indicates a positive year-over-year growth rate of 7.2%. The business is scheduled to issue its next earnings report on Wednesday, April 25th.

According to Zacks, analysts expect that Citrix Systems will report full year earnings of $4.82 per share for the current financial year, with EPS estimates ranging from $4.62 to $4.91. For the next fiscal year, analysts anticipate that the business will post earnings of $5.45 per share, with EPS estimates ranging from $5.02 to $5.85. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, January 31st. The cloud computing company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.60 by $0.06. Citrix Systems had a negative net margin of 0.73% and a positive return on equity of 38.56%. The firm had revenue of $777.90 million for the quarter, compared to analyst estimates of $778.49 million. During the same period last year, the firm earned $1.61 EPS. The business’s quarterly revenue was up 5.9% compared to the same quarter last year.

CTXS has been the topic of several research reports. Royal Bank of Canada reaffirmed a “hold” rating and set a $85.00 price target on shares of Citrix Systems in a report on Tuesday, October 10th. Mizuho reaffirmed a “buy” rating and set a $94.00 price target (up from $92.00) on shares of Citrix Systems in a report on Wednesday, October 25th. Stifel Nicolaus decreased their price target on shares of Citrix Systems from $77.00 to $76.00 and set a “hold” rating on the stock in a report on Thursday, October 26th. Citigroup decreased their price target on shares of Citrix Systems from $96.00 to $94.00 and set a “buy” rating on the stock in a report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Citrix Systems from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Citrix Systems has a consensus rating of “Hold” and a consensus target price of $91.31.

Shares of Citrix Systems (NASDAQ CTXS) traded down $3.12 during trading on Monday, hitting $89.07. 2,960,000 shares of the company traded hands, compared to its average volume of 1,300,000. The company has a market cap of $13,420.00, a price-to-earnings ratio of 2,969.00, a PEG ratio of 3.04 and a beta of 1.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 2.14. Citrix Systems has a 12 month low of $73.33 and a 12 month high of $95.00.

Citrix Systems announced that its board has authorized a share buyback program on Monday, November 13th that allows the company to buyback $1.70 billion in outstanding shares. This buyback authorization allows the cloud computing company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

In other Citrix Systems news, CEO David J. Henshall sold 12,500 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $92.62, for a total transaction of $1,157,750.00. Following the sale, the chief executive officer now directly owns 281,777 shares of the company’s stock, valued at approximately $26,098,185.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Rotterdam Jeroen Van sold 8,530 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $84.58, for a total transaction of $721,467.40. Following the sale, the senior vice president now directly owns 67,122 shares in the company, valued at $5,677,178.76. The disclosure for this sale can be found here. Insiders have sold a total of 111,030 shares of company stock worth $9,605,867 over the last three months. Insiders own 0.44% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Grove Bank & Trust grew its holdings in Citrix Systems by 50.0% during the 3rd quarter. Grove Bank & Trust now owns 2,303 shares of the cloud computing company’s stock worth $177,000 after acquiring an additional 768 shares during the last quarter. WESPAC Advisors LLC bought a new stake in Citrix Systems during the 4th quarter worth approximately $208,000. Intact Investment Management Inc. bought a new stake in Citrix Systems during the 3rd quarter worth approximately $215,000. Kovack Advisors Inc. bought a new stake in Citrix Systems during the 4th quarter worth approximately $249,000. Finally, Colony Group LLC bought a new stake in Citrix Systems during the 2nd quarter worth approximately $228,000. 91.70% of the stock is currently owned by hedge funds and other institutional investors.

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About Citrix Systems

Citrix Systems, Inc offers Enterprise and Service Provider products, which include Workspace Services solutions and Delivery Networking products. The Company’s Enterprise and Service Provider products include Cloud Services solutions, and related license updates and maintenance, support and professional services.

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Earnings History and Estimates for Citrix Systems (NASDAQ:CTXS)

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