Cisco Systems, Inc. (CSCO) to Post Q3 2018 Earnings of $0.58 Per Share, KeyCorp Forecasts
Cisco Systems, Inc. (NASDAQ:CSCO) – Equities research analysts at KeyCorp raised their Q3 2018 earnings per share estimates for Cisco Systems in a research report issued on Wednesday. KeyCorp analyst A. Kurtz now anticipates that the network equipment provider will earn $0.58 per share for the quarter, up from their prior forecast of $0.56. KeyCorp currently has a “Overweight” rating and a $49.00 target price on the stock. KeyCorp also issued estimates for Cisco Systems’ Q1 2019 earnings at $0.57 EPS, Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.63 EPS and Q4 2019 earnings at $0.69 EPS.
Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $11.89 billion during the quarter, compared to the consensus estimate of $11.82 billion. Cisco Systems had a negative net margin of 3.00% and a positive return on equity of 17.77%. During the same period last year, the firm earned $0.57 EPS.
Cisco Systems (CSCO) opened at $44.33 on Monday. The company has a market cap of $219,150.00, a PE ratio of -138.53, a PEG ratio of 3.98 and a beta of 1.23. Cisco Systems has a 1-year low of $30.36 and a 1-year high of $45.13. The company has a current ratio of 2.43, a quick ratio of 2.81 and a debt-to-equity ratio of 0.49.
Cisco Systems declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 14th that permits the company to buyback $25.00 billion in shares. This buyback authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be given a dividend of $0.33 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.98%. Cisco Systems’s payout ratio is currently -362.50%.
In other news, SVP Karen Walker sold 5,786 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $36.49, for a total transaction of $211,131.14. Following the completion of the sale, the senior vice president now owns 176,418 shares in the company, valued at approximately $6,437,492.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John T. Chambers sold 250,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now owns 712,736 shares of the company’s stock, valued at approximately $26,014,864. The disclosure for this sale can be found here. In the last quarter, insiders have sold 348,643 shares of company stock valued at $12,892,271. 0.05% of the stock is owned by corporate insiders.
Several large investors have recently modified their holdings of the company. Sawtooth Solutions LLC grew its holdings in Cisco Systems by 30.2% during the fourth quarter. Sawtooth Solutions LLC now owns 32,947 shares of the network equipment provider’s stock valued at $1,262,000 after purchasing an additional 7,636 shares during the period. Salem Investment Counselors Inc. grew its holdings in Cisco Systems by 1.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 365,956 shares of the network equipment provider’s stock valued at $14,016,000 after purchasing an additional 3,920 shares during the period. HM Payson & Co. grew its holdings in Cisco Systems by 0.6% during the fourth quarter. HM Payson & Co. now owns 942,448 shares of the network equipment provider’s stock valued at $36,096,000 after purchasing an additional 5,944 shares during the period. Northern Oak Wealth Management Inc. grew its holdings in Cisco Systems by 2.7% during the fourth quarter. Northern Oak Wealth Management Inc. now owns 238,989 shares of the network equipment provider’s stock valued at $9,153,000 after purchasing an additional 6,194 shares during the period. Finally, OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Cisco Systems by 48.9% during the fourth quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 281,207 shares of the network equipment provider’s stock valued at $10,770,000 after purchasing an additional 92,300 shares during the period. Institutional investors own 75.42% of the company’s stock.
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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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