Shares of Cisco Systems, Inc. (NASDAQ:CSCO) have been given an average rating of “Buy” by the thirty-six brokerages that are presently covering the stock, MarketBeat Ratings reports. Eleven investment analysts have rated the stock with a hold recommendation, twenty-four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $45.46.
Several analysts have weighed in on the stock. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $45.60 target price on the stock. in a research report on Monday, March 26th. Credit Suisse Group assumed coverage on shares of Cisco Systems in a research report on Wednesday, May 9th. They set a “neutral” rating and a $41.00 target price on the stock. BidaskClub downgraded shares of Cisco Systems from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 19th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Cisco Systems in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on shares of Cisco Systems from $36.00 to $43.00 and gave the company a “market perform” rating in a research note on Thursday, February 15th.
A number of large investors have recently bought and sold shares of CSCO. Stonehearth Capital Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $102,000. Keeler Thomas Management LLC purchased a new stake in shares of Cisco Systems during the fourth quarter worth $108,000. Goodman Financial Corp purchased a new stake in shares of Cisco Systems during the fourth quarter worth $115,000. Certified Advisory Corp purchased a new stake in shares of Cisco Systems during the fourth quarter worth $116,000. Finally, Tarbox Family Office Inc. grew its holdings in shares of Cisco Systems by 67.9% during the fourth quarter. Tarbox Family Office Inc. now owns 3,328 shares of the network equipment provider’s stock worth $127,000 after buying an additional 1,346 shares in the last quarter. Institutional investors own 73.83% of the company’s stock.
Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, May 16th. The network equipment provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.01. The company had revenue of $12.46 billion for the quarter, compared to the consensus estimate of $12.42 billion. Cisco Systems had a negative net margin of 2.61% and a positive return on equity of 19.48%. During the same quarter in the previous year, the firm earned $0.60 EPS. equities research analysts forecast that Cisco Systems will post 2.34 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 25th. Investors of record on Friday, July 6th will be paid a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Thursday, July 5th. Cisco Systems’s dividend payout ratio is currently 61.40%.
Cisco Systems declared that its board has authorized a share buyback program on Wednesday, February 14th that authorizes the company to buyback $25.00 billion in shares. This buyback authorization authorizes the network equipment provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company offers switching products, including fixed-configuration and modular switches, and storage products that provide connectivity to end users, workstations, IP phones, wireless access points, and servers; and next-generation network routing products that interconnect public and private wireline and mobile networks for mobile, data, voice, and video applications.
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