Jefferies Group Brokers Decrease Earnings Estimates for Cisco Systems, Inc. (CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) – Equities research analysts at Jefferies Group lowered their Q2 2018 earnings estimates for shares of Cisco Systems in a report issued on Thursday. Jefferies Group analyst G. Notter now anticipates that the network equipment provider will earn $0.52 per share for the quarter, down from their previous estimate of $0.53. Jefferies Group has a “Buy” rating and a $40.00 price target on the stock. Jefferies Group also issued estimates for Cisco Systems’ Q2 2019 earnings at $0.55 EPS.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 15th. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. The firm had revenue of $12.14 billion during the quarter, compared to analysts’ expectations of $12.11 billion. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. The company’s revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share.
Several other equities research analysts have also recently weighed in on the company. Vetr raised Cisco Systems from a “hold” rating to a “buy” rating and set a $35.02 price objective for the company in a research report on Wednesday, September 6th. ValuEngine cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Monday, August 28th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $36.00 price objective on shares of Cisco Systems in a research report on Tuesday, October 31st. Deutsche Bank AG reissued a “buy” rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Wednesday, September 6th. Finally, Credit Suisse Group reissued an “outperform” rating on shares of Cisco Systems in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $36.73.
Shares of Cisco Systems (NASDAQ CSCO) traded down $0.16 during trading on Monday, reaching $36.50. The company’s stock had a trading volume of 6,441,337 shares, compared to its average volume of 20,259,197. Cisco Systems has a 52-week low of $29.12 and a 52-week high of $36.97. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $180,740.03, a PE ratio of 16.82, a P/E/G ratio of 3.15 and a beta of 1.15.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Wednesday, October 4th. Cisco Systems’s dividend payout ratio (DPR) is currently 60.10%.
In other news, CEO Charles Robbins sold 121,390 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $32.06, for a total transaction of $3,891,763.40. Following the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at $17,719,369.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Mark D. Chandler sold 65,000 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $32.43, for a total value of $2,107,950.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 235,138 shares of company stock worth $7,562,574. Company insiders own 0.05% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stratos Wealth Partners LTD. raised its position in shares of Cisco Systems by 10.4% during the second quarter. Stratos Wealth Partners LTD. now owns 152,990 shares of the network equipment provider’s stock worth $4,789,000 after purchasing an additional 14,395 shares during the period. Eads & Heald Investment Counsel raised its position in Cisco Systems by 15.7% in the 2nd quarter. Eads & Heald Investment Counsel now owns 42,453 shares of the network equipment provider’s stock valued at $1,329,000 after buying an additional 5,765 shares during the last quarter. Washington Trust Bank raised its position in Cisco Systems by 2.5% in the 2nd quarter. Washington Trust Bank now owns 113,153 shares of the network equipment provider’s stock valued at $3,542,000 after buying an additional 2,726 shares during the last quarter. Holderness Investments Co. raised its position in Cisco Systems by 12.1% in the 1st quarter. Holderness Investments Co. now owns 66,740 shares of the network equipment provider’s stock valued at $2,256,000 after buying an additional 7,186 shares during the last quarter. Finally, Pioneer Investment Management Inc. raised its position in Cisco Systems by 5.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 8,258,748 shares of the network equipment provider’s stock valued at $279,146,000 after buying an additional 408,875 shares during the last quarter. 75.14% of the stock is currently owned by institutional investors.
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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