Zacks: Analysts Anticipate Cisco Systems, Inc. (CSCO) Will Post Quarterly Sales of $12.38 Billion

Brokerages forecast that Cisco Systems, Inc. (NASDAQ:CSCO) will report sales of $12.38 billion for the current quarter, according to Zacks Investment Research. Nine analysts have made estimates for Cisco Systems’ earnings, with the highest sales estimate coming in at $12.45 billion and the lowest estimate coming in at $12.30 billion. Cisco Systems reported sales of $11.89 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 4.1%. The company is expected to announce its next earnings results on Wednesday, February 13th.

On average, analysts expect that Cisco Systems will report full year sales of $51.45 billion for the current fiscal year, with estimates ranging from $51.02 billion to $51.81 billion. For the next year, analysts expect that the business will post sales of $53.00 billion, with estimates ranging from $52.18 billion to $54.17 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cisco Systems.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03. The company had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.86 billion. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 earnings per share.

A number of equities research analysts have recently issued reports on CSCO shares. JPMorgan Chase & Co. set a $59.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Thursday, August 16th. KeyCorp increased their target price on Cisco Systems from $52.00 to $53.00 and gave the company an “overweight” rating in a research note on Thursday, November 15th. Loop Capital upgraded Cisco Systems from a “hold” rating to a “positive” rating and set a $45.00 target price for the company in a research note on Thursday, November 15th. They noted that the move was a valuation call. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, October 3rd. Finally, Piper Jaffray Companies set a $50.00 target price on Cisco Systems and gave the company a “buy” rating in a research note on Tuesday, September 11th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $50.26.

In related news, EVP David Goeckeler sold 63,050 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $47.57, for a total value of $2,999,288.50. Following the completion of the transaction, the executive vice president now owns 547,019 shares of the company’s stock, valued at $26,021,693.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark D. Chandler sold 31,842 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The disclosure for this sale can be found here. Insiders sold 558,943 shares of company stock valued at $26,362,383 in the last three months. 0.03% of the stock is currently owned by company insiders.

Large investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA lifted its holdings in Cisco Systems by 220,000.0% during the 3rd quarter. LFA Lugano Financial Advisors SA now owns 2,201 shares of the network equipment provider’s stock worth $107,000 after buying an additional 2,200 shares during the last quarter. JJJ Advisors Inc. bought a new position in Cisco Systems during the 2nd quarter worth approximately $110,000. Camarda Financial Advisors LLC lifted its holdings in Cisco Systems by 546.3% during the 3rd quarter. Camarda Financial Advisors LLC now owns 2,585 shares of the network equipment provider’s stock worth $126,000 after buying an additional 2,185 shares during the last quarter. Legacy Advisors LLC lifted its holdings in Cisco Systems by 597.6% during the 2nd quarter. Legacy Advisors LLC now owns 3,432 shares of the network equipment provider’s stock worth $148,000 after buying an additional 2,940 shares during the last quarter. Finally, Stelac Advisory Services LLC bought a new position in Cisco Systems during the 1st quarter worth approximately $149,000. 69.52% of the stock is currently owned by institutional investors.

NASDAQ:CSCO traded up $0.87 on Friday, hitting $48.74. 24,529,321 shares of the stock were exchanged, compared to its average volume of 24,123,930. The firm has a market capitalization of $230.61 billion, a PE ratio of 20.83, a P/E/G ratio of 2.80 and a beta of 1.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. Cisco Systems has a fifty-two week low of $37.17 and a fifty-two week high of $49.47.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

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