Brokerages Anticipate Citrix Systems, Inc. (NASDAQ:CTXS) Will Post Quarterly Sales of $771.56 Million

Brokerages forecast that Citrix Systems, Inc. (NASDAQ:CTXS) will report $771.56 million in sales for the current fiscal quarter, Zacks reports. Eight analysts have provided estimates for Citrix Systems’ earnings, with the lowest sales estimate coming in at $768.60 million and the highest estimate coming in at $775.00 million. Citrix Systems posted sales of $742.37 million in the same quarter last year, which indicates a positive year over year growth rate of 3.9%. The company is expected to announce its next quarterly earnings results on Wednesday, July 24th.

On average, analysts expect that Citrix Systems will report full-year sales of $3.09 billion for the current fiscal year, with estimates ranging from $3.07 billion to $3.11 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.23 billion, with estimates ranging from $3.18 billion to $3.31 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Wednesday, April 24th. The cloud computing company reported $1.27 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.41. Citrix Systems had a return on equity of 94.77% and a net margin of 18.08%. The company had revenue of $719.14 million during the quarter, compared to analysts’ expectations of $707.78 million. During the same period last year, the firm posted $1.29 earnings per share. The business’s revenue was up 3.1% on a year-over-year basis.

A number of analysts have recently issued reports on CTXS shares. Wedbush reaffirmed an “outperform” rating on shares of Alphabet in a research report on Thursday, April 25th. Zacks Investment Research upgraded Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Monday, April 29th. BidaskClub lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. Deutsche Bank reiterated a “buy” rating and set a GBX 6,800 ($88.85) target price on shares of in a research note on Thursday, June 6th. Finally, ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $114.82.

In other Citrix Systems news, CEO David J. Henshall sold 4,298 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $101.00, for a total transaction of $434,098.00. Following the transaction, the chief executive officer now owns 378,327 shares in the company, valued at approximately $38,211,027. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Mark J. Ferrer sold 1,224 shares of the firm’s stock in a transaction on Monday, April 29th. The stock was sold at an average price of $100.90, for a total value of $123,501.60. Following the transaction, the executive vice president now owns 71,572 shares in the company, valued at approximately $7,221,614.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,466 shares of company stock worth $1,716,076. Corporate insiders own 0.54% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. First Trust Advisors LP increased its stake in Citrix Systems by 25.9% during the 1st quarter. First Trust Advisors LP now owns 3,073,877 shares of the cloud computing company’s stock worth $306,343,000 after acquiring an additional 632,553 shares during the period. Northern Trust Corp increased its stake in Citrix Systems by 11.9% during the 4th quarter. Northern Trust Corp now owns 2,369,828 shares of the cloud computing company’s stock worth $242,812,000 after acquiring an additional 251,645 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd increased its stake in Citrix Systems by 1.4% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,021,171 shares of the cloud computing company’s stock worth $201,429,000 after acquiring an additional 28,163 shares during the period. Geode Capital Management LLC increased its stake in shares of Citrix Systems by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 1,986,493 shares of the cloud computing company’s stock valued at $203,231,000 after purchasing an additional 103,540 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Citrix Systems in the 4th quarter valued at $147,447,000. Hedge funds and other institutional investors own 97.61% of the company’s stock.

Shares of CTXS traded up $1.15 during mid-day trading on Friday, reaching $100.84. The company’s stock had a trading volume of 1,271,644 shares, compared to its average volume of 2,004,995. Citrix Systems has a 1-year low of $93.12 and a 1-year high of $116.82. The stock has a market cap of $13.12 billion, a PE ratio of 22.02, a P/E/G ratio of 2.81 and a beta of 0.98. The business’s 50-day moving average price is $97.19. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 1.34.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, June 6th. This represents a $1.40 dividend on an annualized basis and a yield of 1.39%. Citrix Systems’s dividend payout ratio (DPR) is presently 30.57%.

Citrix Systems Company Profile

Citrix Systems, Inc provides workspace, networking, and analytics solutions worldwide. The company offers workspace services, including Citrix Virtual Apps and Desktops, a cloud-enabled app and desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and Citrix Virtual Apps that allows Windows and Linux applications to be remotely delivered to Macs, PCs, thin clients, and Android/iOS mobile devices from any cloud, on-premises datacenter, or both.

Further Reading: What Are Cryptocurrencies?

Get a free copy of the Zacks research report on Citrix Systems (CTXS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Citrix Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Citrix Systems and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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