Brokerages predict that Cisco Systems, Inc. (NASDAQ:CSCO) will report sales of $12.58 billion for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Cisco Systems’ earnings. The lowest sales estimate is $12.51 billion and the highest is $12.68 billion. Cisco Systems reported sales of $11.98 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 5%. The business is scheduled to announce its next earnings report after the market closes on Wednesday, May 19th.
According to Zacks, analysts expect that Cisco Systems will report full-year sales of $49.17 billion for the current financial year, with estimates ranging from $48.71 billion to $49.42 billion. For the next fiscal year, analysts forecast that the firm will report sales of $50.87 billion, with estimates ranging from $50.34 billion to $51.59 billion. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Cisco Systems.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Tuesday, February 9th. The network equipment provider reported $0.79 EPS for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.03. Cisco Systems had a return on equity of 32.64% and a net margin of 21.76%. The firm had revenue of $11.96 billion during the quarter, compared to analysts’ expectations of $11.92 billion. During the same quarter last year, the firm posted $0.77 earnings per share.
CSCO has been the topic of a number of recent research reports. The Goldman Sachs Group upgraded Cisco Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $50.00 to $59.00 in a report on Wednesday. Credit Suisse Group raised their target price on Cisco Systems from $41.00 to $46.00 and gave the company a “neutral” rating in a report on Wednesday, February 10th. Oppenheimer reiterated a “buy” rating and set a $50.00 price target on shares of Cisco Systems in a report on Tuesday, February 9th. DZ Bank upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Thursday, February 11th. Finally, Piper Sandler lifted their price target on Cisco Systems from $45.00 to $47.00 and gave the stock a “neutral” rating in a report on Wednesday, February 10th. Thirteen research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Cisco Systems presently has an average rating of “Hold” and an average target price of $49.48.
In other news, CEO Charles Robbins sold 8,497 shares of the company’s stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $46.20, for a total value of $392,561.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director M Michele Burns sold 13,982 shares of the company’s stock in a transaction dated Friday, March 26th. The stock was sold at an average price of $51.55, for a total value of $720,772.10. Following the completion of the transaction, the director now owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,776 shares of company stock valued at $1,832,205. 0.02% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Costello Asset Management INC purchased a new position in shares of Cisco Systems in the 4th quarter worth about $26,000. Bainco International Investors bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $30,000. Navis Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $30,000. Goodwin Investment Advisory bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $31,000. Finally, Defined Wealth Management LLC bought a new stake in shares of Cisco Systems in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 70.62% of the company’s stock.
CSCO stock opened at $51.98 on Friday. Cisco Systems has a twelve month low of $35.28 and a twelve month high of $52.94. The company has a quick ratio of 1.54, a current ratio of 1.59 and a debt-to-equity ratio of 0.25. The stock’s 50 day moving average is $47.98 and its 200-day moving average is $43.63. The firm has a market capitalization of $219.45 billion, a PE ratio of 21.13, a P/E/G ratio of 2.54 and a beta of 0.95.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 28th. Investors of record on Tuesday, April 6th will be given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 2.85%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Monday, April 5th. Cisco Systems’s payout ratio is presently 49.32%.
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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
Featured Story: What is an economic bubble?
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]