Cisco Systems, Inc. (NASDAQ:CSCO) announced its quarterly earnings results on Tuesday. The network equipment provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01, Bloomberg Earnings reports. The company had revenue of $12.14 billion for the quarter, compared to the consensus estimate of $12.11 billion. Cisco Systems had a net margin of 20.02% and a return on equity of 16.91%. Cisco Systems’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS.
Cisco Systems (CSCO) traded up $0.09 during trading on Wednesday, reaching $34.04. 17,464,600 shares of the company’s stock traded hands, compared to its average volume of 19,942,168. The stock has a market cap of $169,300.00, a PE ratio of 15.65, a price-to-earnings-growth ratio of 2.97 and a beta of 1.15. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.98 and a current ratio of 3.03. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.75.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 25th. Shareholders of record on Thursday, October 5th were given a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, October 4th. This represents a $1.16 annualized dividend and a yield of 3.41%. Cisco Systems’s dividend payout ratio (DPR) is 61.05%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Cisco Systems by 2.2% in the 2nd quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Nordea Investment Management AB lifted its position in shares of Cisco Systems by 12.1% in the 2nd quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after purchasing an additional 3,384,768 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of Cisco Systems by 11.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after purchasing an additional 2,863,474 shares during the period. LSV Asset Management lifted its position in shares of Cisco Systems by 0.5% in the 2nd quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after purchasing an additional 134,162 shares during the period. Finally, Alliancebernstein L.P. lifted its position in shares of Cisco Systems by 4.3% in the 2nd quarter. Alliancebernstein L.P. now owns 23,726,384 shares of the network equipment provider’s stock worth $742,636,000 after purchasing an additional 971,153 shares during the period. 75.22% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Cisco Systems from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Vetr downgraded shares of Cisco Systems from a “buy” rating to a “hold” rating and set a $33.12 target price on the stock. in a report on Monday, July 24th. BMO Capital Markets restated a “hold” rating on shares of Cisco Systems in a report on Friday, July 28th. BidaskClub downgraded shares of Cisco Systems from a “hold” rating to a “sell” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG set a $40.00 target price on shares of Cisco Systems and gave the stock a “buy” rating in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.47.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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