Cisco Systems, Inc. (CSCO) Announces Earnings Results

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%.

In other news, CEO Charles Robbins sold 121,390 shares of the company’s stock in a transaction that occurred on Wednesday, September 13th. The shares were sold at an average price of $32.06, for a total value of $3,891,763.40. Following the completion of the sale, the chief executive officer now owns 552,694 shares of the company’s stock, valued at approximately $17,719,369.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider John T. Chambers sold 250,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $31.14, for a total transaction of $7,785,000.00. Following the completion of the sale, the insider now directly owns 729,305 shares of the company’s stock, valued at approximately $22,710,557.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 485,138 shares of company stock valued at $15,347,574. 0.05% of the stock is owned by corporate insiders.

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.

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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).

Earnings History for Cisco Systems (NASDAQ:CSCO)

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