Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a consensus rating of “Buy” from the thirty-seven research firms that are covering the company, Marketbeat Ratings reports. Ten analysts have rated the stock with a hold recommendation, twenty-six have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $44.39.
Several brokerages have issued reports on CSCO. Royal Bank of Canada restated a “buy” rating and issued a $44.00 price target on shares of Cisco Systems in a report on Monday, February 12th. William Blair restated an “outperform” rating on shares of Cisco Systems in a report on Thursday, February 15th. Piper Jaffray Companies restated an “overweight” rating and issued a $44.00 price target on shares of Cisco Systems in a report on Wednesday, January 10th. BMO Capital Markets increased their price target on Cisco Systems from $36.00 to $43.00 and gave the stock a “market perform” rating in a report on Thursday, February 15th. Finally, Vetr upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $45.11 price target for the company in a report on Thursday, February 22nd.
In other news, SVP Rebecca Jacoby sold 75,021 shares of the firm’s stock in a transaction that occurred on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the completion of the sale, the senior vice president now directly owns 257,476 shares of the company’s stock, valued at $9,892,227.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Roderick C. Mcgeary sold 15,230 shares of the firm’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the sale, the director now directly owns 113,154 shares of the company’s stock, valued at $4,299,852. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 116,566 shares of company stock valued at $4,636,938. Insiders own 0.05% of the company’s stock.
Shares of Cisco Systems (CSCO) traded up $1.03 during trading on Tuesday, hitting $45.37. The company’s stock had a trading volume of 21,633,413 shares, compared to its average volume of 32,860,000. Cisco Systems has a 12 month low of $30.36 and a 12 month high of $45.89. The company has a market capitalization of $218,570.00, a P/E ratio of -141.78, a P/E/G ratio of 3.05 and a beta of 1.10. The company has a quick ratio of 2.38, a current ratio of 2.43 and a debt-to-equity ratio of 0.49.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. During the same period in the prior year, the company earned $0.57 earnings per share. equities research analysts expect that Cisco Systems will post 2.32 EPS for the current fiscal year.
Cisco Systems announced that its board has initiated a share buyback plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in shares. This repurchase authorization allows the network equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Investors of record on Thursday, April 5th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, April 4th. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a yield of 2.91%. Cisco Systems’s dividend payout ratio is -362.50%.
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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).
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