Cisco Systems (CSCO) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Cisco Systems (NASDAQ:CSCO) issued its quarterly earnings results on Wednesday. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.04, Bloomberg Earnings reports. Cisco Systems had a net margin of 20.26% and a return on equity of 16.64%. During the same period last year, the business posted $0.57 earnings per share. Cisco Systems updated its Q3 guidance to $0.64-0.66 EPS.

Shares of Cisco Systems (NASDAQ CSCO) opened at $44.35 on Thursday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. The stock has a market cap of $219,270.00, a PE ratio of -138.59, a PEG ratio of 3.71 and a beta of 1.23. Cisco Systems has a 1-year low of $30.36 and a 1-year high of $45.10.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Cisco Systems’s previous quarterly dividend of $0.29. Cisco Systems’s dividend payout ratio (DPR) is presently -362.50%.

In other news, Director Roderick C. Mcgeary sold 15,230 shares of the firm’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $38.00, for a total transaction of $578,740.00. Following the sale, the director now owns 113,154 shares of the company’s stock, valued at approximately $4,299,852. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John T. Chambers sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, November 22nd. The shares were sold at an average price of $36.50, for a total transaction of $9,125,000.00. Following the sale, the insider now directly owns 712,736 shares in the company, valued at approximately $26,014,864. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 348,643 shares of company stock worth $12,892,271. Insiders own 0.05% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Cisco Systems by 2.2% in the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after buying an additional 7,411,891 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Cisco Systems by 12.1% in the second quarter. Nordea Investment Management AB now owns 31,396,260 shares of the network equipment provider’s stock worth $982,703,000 after buying an additional 3,384,768 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of Cisco Systems by 11.6% in the second quarter. TIAA CREF Investment Management LLC now owns 27,570,250 shares of the network equipment provider’s stock worth $862,949,000 after buying an additional 2,863,474 shares during the last quarter. LSV Asset Management boosted its holdings in shares of Cisco Systems by 0.5% in the second quarter. LSV Asset Management now owns 27,453,460 shares of the network equipment provider’s stock worth $859,293,000 after buying an additional 134,162 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of Cisco Systems by 4.3% in the second quarter. Alliancebernstein L.P. now owns 23,726,384 shares of the network equipment provider’s stock worth $742,636,000 after buying an additional 971,153 shares during the last quarter. 75.42% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts recently issued reports on the stock. Barclays increased their price target on shares of Cisco Systems from $37.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 17th. Deutsche Bank reiterated a “buy” rating and issued a $45.00 price target (up from $40.00) on shares of Cisco Systems in a research note on Thursday, November 16th. Jefferies Group increased their price target on shares of Cisco Systems to $40.00 and gave the stock a “buy” rating in a research note on Thursday, November 16th. Bank of America increased their price target on shares of Cisco Systems from $35.00 to $37.00 and gave the stock a “neutral” rating in a research note on Thursday, November 16th. Finally, Nomura upgraded shares of Cisco Systems from a “neutral” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Monday. Eleven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $42.41.

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About Cisco Systems

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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