Cisco Systems, Inc. (CSCO) Updates Q2 Earnings Guidance

Cisco Systems, Inc. (NASDAQ:CSCO) updated its second quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.58-0.60 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.58. The company issued revenue guidance of +1-3% to ~$11.70-11.93 billion, compared to the consensus revenue estimate of $11.69 billion.

Several equities analysts have commented on the stock. Vetr downgraded shares of Cisco Systems from a buy rating to a hold rating and set a $35.78 price target for the company. in a research note on Friday. MKM Partners boosted their target price on shares of Cisco Systems to $38.00 and gave the stock a neutral rating in a research note on Thursday. Robert W. Baird reiterated a buy rating on shares of Cisco Systems in a research note on Thursday. UBS AG reiterated a buy rating and set a $39.00 target price on shares of Cisco Systems in a research note on Thursday. Finally, BMO Capital Markets boosted their target price on shares of Cisco Systems from $32.00 to $36.00 and gave the stock a market perform rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $36.43.

Shares of Cisco Systems, Inc. (NASDAQ CSCO) opened at $35.88 on Friday. The firm has a market cap of $168,905.28, a price-to-earnings ratio of 15.72, a P/E/G ratio of 2.98 and a beta of 1.15. Cisco Systems, Inc. has a fifty-two week low of $29.12 and a fifty-two week high of $36.67. The company has a current ratio of 3.03, a quick ratio of 2.98 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. The business had revenue of $12.14 billion during the quarter, compared to analyst estimates of $12.11 billion. Cisco Systems had a net margin of 20.26% and a return on equity of 16.67%. The business’s revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. equities analysts anticipate that Cisco Systems, Inc. will post 2.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 25th. Investors of record on Thursday, October 5th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s payout ratio is 60.10%.

In other Cisco Systems news, CAO Prat Bhatt sold 25,638 shares of the firm’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total transaction of $821,954.28. Following the completion of the transaction, the chief accounting officer now directly owns 119,996 shares of the company’s stock, valued at approximately $3,847,071.76. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Charles Robbins sold 121,390 shares of the firm’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 transaction, 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. Over the last three months, insiders have sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is owned by company insiders.

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A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Cisco Systems by 51.1% in the 2nd quarter. Janus Henderson Group PLC now owns 13,528,059 shares of the network equipment provider’s stock worth $423,475,000 after buying an additional 4,577,831 shares during the last quarter. Parametric Portfolio Associates LLC lifted its position in shares of Cisco Systems by 36.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 13,415,432 shares of the network equipment provider’s stock worth $419,903,000 after buying an additional 3,559,275 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Cisco Systems by 12.1% in the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after buying an additional 3,384,768 shares during the last quarter. Finally, TIAA CREF Investment Management LLC lifted its position in shares of Cisco Systems by 11.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after buying an additional 2,863,474 shares during the last quarter. 75.22% of the stock is owned by institutional investors.

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).

Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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