$771.56 Million in Sales Expected for Citrix Systems, Inc. (NASDAQ:CTXS) This Quarter

Brokerages forecast that Citrix Systems, Inc. (NASDAQ:CTXS) will report sales of $771.56 million for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Citrix Systems’ earnings. The lowest sales estimate is $768.60 million and the highest is $775.00 million. Citrix Systems reported sales of $742.37 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.9%. The firm is expected to issue its next quarterly earnings results on Wednesday, July 24th.

According to Zacks, analysts expect that Citrix Systems will report full year sales of $3.09 billion for the current year, with estimates ranging from $3.07 billion to $3.11 billion. For the next financial year, analysts expect that the business will report sales of $3.23 billion, with estimates ranging from $3.18 billion to $3.31 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Citrix Systems.

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

A number of equities research analysts have recently weighed in on the stock. BidaskClub downgraded shares of Citrix Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 20th. Deutsche Bank upgraded shares of Citrix Systems from a “hold” rating to a “buy” rating and raised their price target for the company from $110.00 to $120.00 in a research note on Thursday, June 6th. Wedbush restated a “hold” rating and issued a $100.00 price target on shares of Citrix Systems in a research note on Thursday, April 25th. Zacks Investment Research downgraded shares of Citrix Systems from a “hold” rating to a “sell” rating in a research note on Monday, April 29th. Finally, ValuEngine downgraded shares of Citrix Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 19th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $114.82.

CTXS stock traded down $0.69 during mid-day trading on Tuesday, hitting $96.07. The stock had a trading volume of 275,141 shares, compared to its average volume of 1,535,083. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 1.34. Citrix Systems has a 52 week low of $93.12 and a 52 week high of $116.82. The firm has a market cap of $12.74 billion, a P/E ratio of 20.97, a P/E/G ratio of 2.72 and a beta of 1.00.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Investors of record on Friday, June 7th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, June 6th. This represents a $1.40 annualized dividend and a yield of 1.46%. Citrix Systems’s dividend payout ratio is presently 30.57%.

In related news, CEO David J. Henshall sold 4,367 shares of Citrix Systems stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $93.99, for a total transaction of $410,454.33. Following the sale, the chief executive officer now directly owns 373,960 shares in the company, valued at approximately $35,148,500.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Mark J. Ferrer sold 1,224 shares of Citrix Systems stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $95.00, for a total transaction of $116,280.00. Following the sale, the executive vice president now owns 70,348 shares in the company, valued at $6,683,060. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,842 shares of company stock worth $1,957,137. 0.54% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of CTXS. Strategy Asset Managers LLC acquired a new position in shares of Citrix Systems in the 1st quarter worth approximately $25,000. Pearl River Capital LLC acquired a new position in shares of Citrix Systems in the 4th quarter worth approximately $26,000. Smart Portfolios LLC acquired a new position in shares of Citrix Systems in the 4th quarter worth approximately $29,000. Glassman Wealth Services lifted its position in shares of Citrix Systems by 46.5% in the 1st quarter. Glassman Wealth Services now owns 334 shares of the cloud computing company’s stock worth $33,000 after purchasing an additional 106 shares during the period. Finally, Braun Bostich & Associates Inc. lifted its position in shares of Citrix Systems by 1,845.0% in the 1st quarter. Braun Bostich & Associates Inc. now owns 389 shares of the cloud computing company’s stock worth $39,000 after purchasing an additional 369 shares during the period. Institutional investors and hedge funds own 97.69% of the company’s stock.

About Citrix Systems

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.

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