Brokerages expect Cisco Systems, Inc. (NASDAQ:CSCO) to post $13.04 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Eight analysts have provided estimates for Cisco Systems' earnings, with the highest sales estimate coming in at $13.10 billion and the lowest estimate coming in at $13.00 billion. Cisco Systems posted sales of $12.15 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 7.3%. The company is scheduled to announce its next earnings report after the market closes on Wednesday, August 18th.
According to Zacks, analysts expect that Cisco Systems will report full year sales of $49.68 billion for the current financial year, with estimates ranging from $49.22 billion to $49.79 billion. For the next financial year, analysts expect that the business will report sales of $51.73 billion, with estimates ranging from $50.96 billion to $52.42 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side analysts that follow Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.01. Cisco Systems had a net margin of 20.92% and a return on equity of 31.12%. The company had revenue of $12.80 billion during the quarter, compared to the consensus estimate of $12.57 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The firm's quarterly revenue was up 6.8% on a year-over-year basis.
CSCO has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on Cisco Systems from $54.00 to $57.00 and gave the stock an "overweight" rating in a research note on Friday, April 16th. Deutsche Bank Aktiengesellschaft started coverage on Cisco Systems in a report on Tuesday, April 20th. They set a "hold" rating and a $55.00 target price on the stock. Wolfe Research raised Cisco Systems from a "market perform" rating to an "outperform" rating and set a $63.00 target price for the company in a research note on Friday, April 16th. William Blair reaffirmed a "market perform" rating on shares of Cisco Systems in a research report on Thursday, May 20th. Finally, KeyCorp reissued a "sector weight" rating on shares of Cisco Systems in a research note on Thursday, April 29th. Ten research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock presently has an average rating of "Buy" and an average price target of $51.85.
In related news, SVP Prat Bhatt sold 3,829 shares of the company's stock in a transaction on Monday, May 24th. The stock was sold at an average price of $53.50, for a total transaction of $204,851.50. Following the transaction, the senior vice president now owns 106,222 shares of the company's stock, valued at $5,682,877. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Maria Martinez sold 12,000 shares of the firm's stock in a transaction on Monday, May 24th. The shares were sold at an average price of $53.50, for a total value of $642,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 76,864 shares of company stock worth $4,186,457. Company insiders own 0.02% of the company's stock.
A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Cisco Systems by 2.2% in the 1st quarter. BlackRock Inc. now owns 334,979,843 shares of the network equipment provider's stock worth $17,321,808,000 after acquiring an additional 7,282,145 shares during the period. Geode Capital Management LLC boosted its position in Cisco Systems by 3.1% during the first quarter. Geode Capital Management LLC now owns 69,440,752 shares of the network equipment provider's stock worth $3,581,548,000 after purchasing an additional 2,062,223 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Cisco Systems by 1.3% in the first quarter. Ameriprise Financial Inc. now owns 54,346,309 shares of the network equipment provider's stock valued at $2,811,048,000 after purchasing an additional 710,318 shares during the last quarter. Norges Bank purchased a new position in shares of Cisco Systems in the fourth quarter valued at $2,026,921,000. Finally, Nuveen Asset Management LLC raised its stake in shares of Cisco Systems by 35.7% during the 1st quarter. Nuveen Asset Management LLC now owns 44,857,692 shares of the network equipment provider's stock worth $2,319,591,000 after buying an additional 11,791,493 shares during the last quarter. 72.08% of the stock is owned by institutional investors.
CSCO stock opened at $55.23 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.46 and a current ratio of 1.53. Cisco Systems has a 52-week low of $35.28 and a 52-week high of $55.35. The stock's 50-day moving average price is $53.39. The stock has a market cap of $232.75 billion, a price-to-earnings ratio of 22.92, a P/E/G ratio of 3.01 and a beta of 0.91.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 28th. Stockholders of record on Tuesday, July 6th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, July 2nd. Cisco Systems's dividend payout ratio (DPR) is presently 50.68%.
Cisco Systems Company Profile
Cisco Systems, Inc engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. The firm operates through the following geographical segments: the Americas, EMEA, and APJC. Its product comprises of the following categories: Switches, Routers, Wireless, Network Management Interfaces and Modules, Optical Networking, Access Points, Outdoor and Industrial Access Points, Next-Generation Firewalls, Advanced Malware Protection, VPN Security Clients, Email, and Web Security.
See Also: What is the balance sheet?
Get a free copy of the Zacks research report on Cisco Systems (CSCO)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider Cisco Systems, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Cisco Systems wasn't on the list.
While Cisco Systems currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here