Cisco Systems, Inc. (CSCO) Rating Reiterated by Credit Suisse Group
Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating reiterated by analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday.
A number of other research firms have also recently issued reports on CSCO. Instinet reaffirmed a “neutral” rating and issued a $29.00 price objective on shares of Cisco Systems in a research report on Monday, July 3rd. J P Morgan Chase & Co reaffirmed a “neutral” rating on shares of Cisco Systems in a research report on Monday, June 26th. Morgan Stanley raised Cisco Systems from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $33.45 to $39.00 in a research report on Monday, May 15th. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $33.39 price target for the company in a report on Monday, July 17th. Finally, Zacks Investment Research cut Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday, May 15th. Fifteen investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Cisco Systems currently has an average rating of “Buy” and a consensus target price of $35.47.
Cisco Systems (NASDAQ CSCO) opened at 32.30 on Thursday. Cisco Systems has a one year low of $29.12 and a one year high of $34.60. The stock’s 50 day moving average price is $31.59 and its 200-day moving average price is $32.57. The firm has a market capitalization of $161.27 billion, a price-to-earnings ratio of 17.00 and a beta of 1.19.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The company had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. During the same period last year, the firm posted $0.63 earnings per share. The business’s revenue was down 4.0% on a year-over-year basis. On average, equities research analysts expect that Cisco Systems will post $2.43 EPS for the current fiscal year.
In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the transaction, the senior vice president now directly owns 271,725 shares of the company’s stock, valued at $8,616,399.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $31.14, for a total value of $7,785,000.00. Following the transaction, the insider now directly owns 729,305 shares of the company’s stock, valued at $22,710,557.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 350,642 shares of company stock valued at $10,973,081. 0.11% of the stock is owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in CSCO. Grubman Wealth Management bought a new stake in Cisco Systems during the first quarter valued at about $237,000. Charter Trust Co. increased its stake in Cisco Systems by 0.5% in the first quarter. Charter Trust Co. now owns 103,949 shares of the network equipment provider’s stock valued at $3,514,000 after buying an additional 471 shares in the last quarter. Raymond James Trust N.A. increased its stake in Cisco Systems by 2.6% in the first quarter. Raymond James Trust N.A. now owns 400,426 shares of the network equipment provider’s stock valued at $13,534,000 after buying an additional 10,257 shares in the last quarter. Weaver C. Barksdale & Associates Inc. increased its stake in Cisco Systems by 31.4% in the first quarter. Weaver C. Barksdale & Associates Inc. now owns 42,365 shares of the network equipment provider’s stock valued at $1,432,000 after buying an additional 10,130 shares in the last quarter. Finally, New England Research & Management Inc. increased its stake in Cisco Systems by 18.4% in the first quarter. New England Research & Management Inc. now owns 66,797 shares of the network equipment provider’s stock valued at $2,258,000 after buying an additional 10,397 shares in the last quarter. 74.68% of the stock is owned by institutional investors and hedge funds.
Cisco Systems Company Profile
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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