Cisco Systems, Inc. (NASDAQ:CSCO) – Stock analysts at KeyCorp raised their Q2 2020 earnings estimates for shares of Cisco Systems in a research note issued on Sunday, March 24th. KeyCorp analyst A. Kurtz now expects that the network equipment provider will earn $0.75 per share for the quarter, up from their prior estimate of $0.74. KeyCorp has a “Overweight” rating and a $58.00 price objective on the stock. KeyCorp also issued estimates for Cisco Systems’ FY2020 earnings at $3.11 EPS.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 13th. The network equipment provider reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.01. The business had revenue of $12.45 billion for the quarter, compared to analyst estimates of $12.43 billion. Cisco Systems had a return on equity of 27.58% and a net margin of 25.31%. Cisco Systems’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

CSCO has been the topic of a number of other research reports. Robert W. Baird restated an “outperform” rating and set a $53.00 price objective on shares of Cisco Systems in a research report on Thursday, November 29th. Morgan Stanley lowered Cisco Systems from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $51.00 to $49.00 in a research report on Tuesday, February 12th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $57.00 target price (up from $52.00) on shares of Cisco Systems in a report on Wednesday, February 13th. MKM Partners lifted their target price on Cisco Systems to $54.00 and gave the stock a “neutral” rating in a report on Thursday, February 14th. Finally, Argus reaffirmed a “buy” rating and set a $55.00 target price on shares of Cisco Systems in a report on Tuesday, January 15th. Seven analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.49.

Shares of CSCO stock opened at $53.14 on Wednesday. The firm has a market cap of $254.03 billion, a P/E ratio of 22.71, a PEG ratio of 2.75 and a beta of 1.22. Cisco Systems has a twelve month low of $40.19 and a twelve month high of $54.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.74 and a current ratio of 1.80.

Large investors have recently made changes to their positions in the company. Phocas Financial Corp. acquired a new position in Cisco Systems during the 4th quarter worth approximately $26,000. Essex Investment Management Co. LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $29,000. Horan Securities Inc. raised its stake in Cisco Systems by 663.0% during the 4th quarter. Horan Securities Inc. now owns 763 shares of the network equipment provider’s stock worth $33,000 after buying an additional 663 shares during the period. Portfolio Solutions LLC acquired a new position in Cisco Systems during the 4th quarter worth approximately $48,000. Finally, Contravisory Investment Management Inc. acquired a new position in Cisco Systems during the 4th quarter worth approximately $49,000. 69.07% of the stock is currently owned by institutional investors.

In other news, Director Roderick C. Mcgeary sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $49.66, for a total value of $744,900.00. Following the transaction, the director now directly owns 102,898 shares of the company’s stock, valued at approximately $5,109,914.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $51.70, for a total value of $3,619,000.00. Following the completion of the transaction, the chief financial officer now directly owns 420,696 shares in the company, valued at $21,749,983.20. The disclosure for this sale can be found here. Insiders sold a total of 115,000 shares of company stock worth $5,926,000 over the last three months. 0.03% of the stock is owned by company insiders.

Cisco Systems declared that its board has authorized a share repurchase program on Wednesday, February 13th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the network equipment provider to repurchase up to 6.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, April 4th. This is an increase from Cisco Systems’s previous quarterly dividend of $0.33. This represents a $1.40 annualized dividend and a yield of 2.63%. Cisco Systems’s payout ratio is presently 56.41%.

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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Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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