Cisco Systems (NASDAQ:CSCO) Announces Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Cisco Systems (NASDAQ:CSCO) announced its quarterly earnings results on Wednesday. The network equipment provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.82 by $0.01, RTT News reports. The company had revenue of $13.43 billion during the quarter, compared to analysts’ expectations of $13.39 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. Cisco Systems’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period last year, the business earned $0.70 earnings per share. Cisco Systems updated its Q1 2020 guidance to $0.80-0.82 EPS and its Q1 guidance to $0.80-0.82 EPS.
NASDAQ CSCO traded down $1.98 on Wednesday, reaching $50.75. 15,871,574 shares of the company were exchanged, compared to its average volume of 20,911,664. The firm has a fifty day simple moving average of $55.59. The company has a market cap of $224.44 billion, a PE ratio of 21.69, a P/E/G ratio of 2.41 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.69 and a quick ratio of 1.64. Cisco Systems has a fifty-two week low of $40.25 and a fifty-two week high of $58.26.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 24th. Shareholders of record on Friday, July 5th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date was Wednesday, July 3rd. Cisco Systems’s dividend payout ratio (DPR) is currently 59.83%.
A number of analysts have recently commented on CSCO shares. Barclays started coverage on Cisco Systems in a research report on Wednesday, August 7th. They issued an “equal weight” rating and a $52.00 price objective for the company. Oppenheimer boosted their price objective on Cisco Systems from $52.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Morgan Stanley boosted their price objective on Cisco Systems from $49.00 to $51.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. UBS Group set a $61.00 price objective on Cisco Systems and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Goldman Sachs Group cut Cisco Systems from a “conviction-buy” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $62.00 in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty 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 $56.32.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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