Cisco Systems (NASDAQ:CSCO - Get Rating) is scheduled to be announcing its earnings results after the market closes on Wednesday, November 16th. Analysts expect the company to announce earnings of $0.73 per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.
Cisco Systems (NASDAQ:CSCO - Get Rating) last issued its earnings results on Wednesday, August 17th. The network equipment provider reported $0.74 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.73 by $0.01. Cisco Systems had a net margin of 22.91% and a return on equity of 31.12%. The company had revenue of $13.10 billion during the quarter, compared to analysts' expectations of $12.78 billion. During the same period last year, the company posted $0.76 earnings per share. The firm's quarterly revenue was down .2% compared to the same quarter last year. On average, analysts expect Cisco Systems to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Cisco Systems Price Performance
CSCO stock opened at $44.61 on Wednesday. The company has a market cap of $183.30 billion, a price-to-earnings ratio of 15.82, a PEG ratio of 2.21 and a beta of 1.00. The company has a current ratio of 1.43, a quick ratio of 1.33 and a debt-to-equity ratio of 0.21. The firm has a 50 day moving average of $42.89 and a 200-day moving average of $44.63. Cisco Systems has a 12-month low of $38.60 and a 12-month high of $64.29.
Cisco Systems Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, October 4th. This represents a $1.52 annualized dividend and a yield of 3.41%. Cisco Systems's dividend payout ratio is presently 53.90%.
Insider Activity at Cisco Systems
In other news, SVP Prat Bhatt sold 19,168 shares of the firm's stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $44.28, for a total value of $848,759.04. Following the transaction, the senior vice president now directly owns 38,158 shares in the company, valued at approximately $1,689,636.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Prat Bhatt sold 19,168 shares of the stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the sale, the senior vice president now owns 38,158 shares of the company's stock, valued at $1,689,636.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jeffery S. Sharritts sold 12,838 shares of the firm's stock in a transaction on Monday, August 22nd. The shares were sold at an average price of $47.86, for a total transaction of $614,426.68. Following the completion of the transaction, the executive vice president now directly owns 167,532 shares in the company, valued at approximately $8,018,081.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 56,317 shares of company stock worth $2,612,042. 0.02% of the stock is owned by insiders.
Institutional Investors Weigh In On Cisco Systems
Institutional investors and hedge funds have recently modified their holdings of the stock. United Bank purchased a new stake in Cisco Systems during the 1st quarter worth $645,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider's stock worth $236,593,000 after acquiring an additional 1,040,607 shares during the last quarter. Roundview Capital LLC increased its position in shares of Cisco Systems by 13.1% during the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider's stock worth $588,000 after acquiring an additional 1,221 shares during the last quarter. Merit Financial Group LLC lifted its stake in shares of Cisco Systems by 21.5% in the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider's stock worth $656,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Cisco Systems by 8.1% in the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider's stock valued at $135,470,000 after purchasing an additional 182,857 shares during the last quarter. Hedge funds and other institutional investors own 71.71% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently issued reports on the company. StockNews.com initiated coverage on Cisco Systems in a research note on Wednesday, October 12th. They set a "buy" rating for the company. Raymond James cut their target price on shares of Cisco Systems from $63.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, August 18th. Credit Suisse Group increased their price target on shares of Cisco Systems from $60.00 to $65.00 and gave the company an "outperform" rating in a research report on Thursday, August 18th. KGI Securities upgraded Cisco Systems from a "neutral" rating to an "outperform" rating in a research report on Wednesday, August 31st. Finally, Barclays cut Cisco Systems from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $56.00 to $46.00 in a report on Wednesday, September 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, Cisco Systems has an average rating of "Moderate Buy" and an average price target of $53.68.
About Cisco Systems
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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 that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
Further Reading
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