Cisco Systems, Inc. (NASDAQ:CSCO) to Issue Quarterly Dividend of $0.41

Key Points

• Cisco Systems has declared a quarterly dividend of $0.41 per share, scheduled for payment on October 22nd, 2023, to shareholders on record as of October 3rd.
• The company reported a net margin of 17.60% and a return on equity of 26.48% in its last quarter, with revenues rising by 11.4% compared to the previous year.
• Cisco's stock is currently trading at $70.32, down 1.5%, with a consensus price target of $70.55 indicating a moderate buy outlook from analysts.

Cisco Systems, Inc. (NASDAQ:CSCO - Get Free Report) declared a quarterly dividend on Wednesday, August 13th, RTT News reports. Shareholders of record on Friday, October 3rd will be paid a dividend of 0.41 per share by the network equipment provider on Wednesday, October 22nd. This represents a c) dividend on an annualized basis and a dividend yield of 2.3%.

Cisco Systems has a payout ratio of 40.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Cisco Systems to earn $3.21 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 51.1%.

Cisco Systems Stock Down 1.5%

Cisco Systems stock traded down $1.07 during trading hours on Wednesday, hitting $70.32. The stock had a trading volume of 35,767,862 shares, compared to its average volume of 21,384,377. Cisco Systems has a 12-month low of $45.04 and a 12-month high of $72.55. The stock's 50-day moving average price is $67.77 and its 200-day moving average price is $63.16. The company has a quick ratio of 0.87, a current ratio of 0.95 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $278.45 billion, a P/E ratio of 28.70, a price-to-earnings-growth ratio of 3.92 and a beta of 0.91.

Cisco Systems (NASDAQ:CSCO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The network equipment provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.92 by $0.04. The firm had revenue of $14.15 billion during the quarter, compared to the consensus estimate of $14.05 billion. Cisco Systems had a net margin of 17.60% and a return on equity of 26.48%. The company's revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. Equities research analysts anticipate that Cisco Systems will post 3.04 EPS for the current fiscal year.

Analysts Set New Price Targets

CSCO has been the topic of several research reports. Barclays reiterated an "equal weight" rating on shares of Cisco Systems in a report on Wednesday, May 21st. New Street Research restated a "neutral" rating and set a $70.00 price objective on shares of Cisco Systems in a research note on Friday, May 16th. UBS Group lifted their price target on Cisco Systems from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Tuesday, August 5th. Piper Sandler boosted their price objective on Cisco Systems from $60.00 to $64.00 and gave the company a "neutral" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. increased their target price on Cisco Systems from $73.00 to $78.00 and gave the company an "overweight" rating in a report on Thursday, July 17th. Eight analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.55.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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