Analysts expect Cisco Systems, Inc. (NASDAQ:CSCO) to report sales of $12.65 billion for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Cisco Systems' earnings. The highest sales estimate is $12.73 billion and the lowest is $12.61 billion. Cisco Systems posted sales of $11.96 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 8th.
On average, analysts expect that Cisco Systems will report full year sales of $52.67 billion for the current year, with estimates ranging from $52.39 billion to $52.91 billion. For the next fiscal year, analysts anticipate that the business will report sales of $55.41 billion, with estimates ranging from $54.90 billion to $56.04 billion. Zacks Investment Research's sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Tuesday, November 16th. The network equipment provider reported $0.82 EPS for the quarter, beating the Zacks' consensus estimate of $0.80 by $0.02. The business had revenue of $12.90 billion for the quarter, compared to analyst estimates of $12.98 billion. Cisco Systems had a return on equity of 30.59% and a net margin of 22.44%. The firm's revenue for the quarter was up 8.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.68 EPS.
CSCO has been the subject of several recent analyst reports. Citigroup increased their target price on Cisco Systems from $55.00 to $65.00 and gave the company a "neutral" rating in a research note on Wednesday, December 22nd. Westpark Capital initiated coverage on Cisco Systems in a research note on Friday, September 24th. They set a "hold" rating and a $62.00 target price for the company. MKM Partners increased their target price on Cisco Systems from $60.00 to $69.00 and gave the company a "buy" rating in a research note on Monday, September 20th. Credit Suisse Group decreased their target price on Cisco Systems from $74.00 to $73.00 and set an "outperform" rating for the company in a research note on Thursday, November 18th. Finally, Morgan Stanley increased their target price on Cisco Systems from $59.00 to $61.00 and gave the company an "equal weight" rating in a research note on Wednesday, December 15th. Twelve research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Cisco Systems presently has an average rating of "Hold" and a consensus price target of $62.94.
Shares of NASDAQ CSCO opened at $61.36 on Friday. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.54 and a current ratio of 1.62. The firm has a market cap of $258.79 billion, a price-to-earnings ratio of 22.81, a P/E/G ratio of 3.09 and a beta of 0.96. The business's 50-day simple moving average is $58.89 and its 200-day simple moving average is $56.97. Cisco Systems has a 52 week low of $44.15 and a 52 week high of $64.29.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 26th. Investors of record on Wednesday, January 5th will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, January 4th. This represents a $1.48 annualized dividend and a dividend yield of 2.41%. Cisco Systems's dividend payout ratio (DPR) is presently 55.02%.
In related news, CEO Charles Robbins sold 162,959 shares of the firm's stock in a transaction on Wednesday, November 24th. The stock was sold at an average price of $55.45, for a total transaction of $9,036,076.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Prat Bhatt sold 468 shares of the firm's stock in a transaction on Tuesday, December 14th. The shares were sold at an average price of $58.34, for a total value of $27,303.12. The disclosure for this sale can be found here. Insiders have sold a total of 176,149 shares of company stock valued at $9,760,545 in the last 90 days. 0.02% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in CSCO. Amundi acquired a new stake in Cisco Systems during the 2nd quarter valued at $1,003,475,000. Nordea Investment Management AB increased its holdings in Cisco Systems by 86.8% during the 3rd quarter. Nordea Investment Management AB now owns 38,494,781 shares of the network equipment provider's stock valued at $2,143,774,000 after purchasing an additional 17,891,357 shares in the last quarter. Invesco Ltd. increased its stake in shares of Cisco Systems by 30.1% in the 3rd quarter. Invesco Ltd. now owns 33,964,920 shares of the network equipment provider's stock valued at $1,848,711,000 after buying an additional 7,850,030 shares during the period. Dodge & Cox increased its stake in shares of Cisco Systems by 15.6% in the 2nd quarter. Dodge & Cox now owns 47,579,326 shares of the network equipment provider's stock valued at $2,521,704,000 after buying an additional 6,426,193 shares during the period. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Cisco Systems by 29.2% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 26,330,977 shares of the network equipment provider's stock valued at $1,395,542,000 after buying an additional 5,949,585 shares during the period. 71.71% of the stock is owned by hedge funds and other institutional investors.
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.
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