Cisco Systems, Inc. (NASDAQ:CSCO) – Equities researchers at Piper Jaffray Companies dropped their Q2 2020 earnings per share (EPS) estimates for Cisco Systems in a research report issued to clients and investors on Wednesday, November 13th. Piper Jaffray Companies analyst J. Fish now forecasts that the network equipment provider will post earnings per share of $0.69 for the quarter, down from their previous forecast of $0.70. Piper Jaffray Companies currently has a “Neutral” rating and a $51.00 target price on the stock. Piper Jaffray Companies also issued estimates for Cisco Systems’ Q3 2020 earnings at $0.72 EPS, Q1 2021 earnings at $0.77 EPS, Q3 2021 earnings at $0.76 EPS and Q1 2022 earnings at $0.81 EPS.
A number of other brokerages have also recently commented on CSCO. UBS Group reaffirmed a “buy” rating and set a $54.00 price objective (down previously from $58.00) on shares of Cisco Systems in a research note on Thursday. ValuEngine cut shares of Cisco Systems from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. BidaskClub raised shares of Cisco Systems from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 7th. Barclays dropped their price objective on shares of Cisco Systems from $51.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $58.00 price objective (down previously from $60.00) on shares of Cisco Systems in a research note on Thursday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $53.79.
Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The business had revenue of $13.16 billion for the quarter, compared to analysts’ expectations of $13.09 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The business’s revenue was up .7% on a year-over-year basis. During the same quarter last year, the company earned $0.75 EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Friday, October 4th were given a dividend of $0.35 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.10%. Cisco Systems’s dividend payout ratio (DPR) is 49.12%.
In other Cisco Systems news, CEO Charles Robbins sold 18,955 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $50.04, for a total value of $948,508.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Irving Tan sold 22,896 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $49.42, for a total value of $1,131,520.32. Following the completion of the transaction, the senior vice president now owns 154,819 shares in the company, valued at approximately $7,651,154.98. The disclosure for this sale can be found here. Insiders sold a total of 192,584 shares of company stock worth $9,333,015 in the last 90 days. 0.03% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in CSCO. MUFG Americas Holdings Corp increased its stake in shares of Cisco Systems by 1.9% in the 3rd quarter. MUFG Americas Holdings Corp now owns 882,995 shares of the network equipment provider’s stock worth $43,628,000 after acquiring an additional 16,263 shares during the last quarter. Valmark Advisers Inc. increased its stake in shares of Cisco Systems by 40.0% in the 3rd quarter. Valmark Advisers Inc. now owns 9,729 shares of the network equipment provider’s stock worth $481,000 after acquiring an additional 2,780 shares during the last quarter. Cetera Investment Advisers increased its stake in shares of Cisco Systems by 5.1% in the 3rd quarter. Cetera Investment Advisers now owns 42,844 shares of the network equipment provider’s stock worth $2,106,000 after acquiring an additional 2,078 shares during the last quarter. WT Wealth Management acquired a new stake in shares of Cisco Systems in the 3rd quarter worth $332,000. Finally, CNA Financial Corp increased its stake in shares of Cisco Systems by 10.5% in the 3rd quarter. CNA Financial Corp now owns 158,300 shares of the network equipment provider’s stock worth $7,822,000 after acquiring an additional 15,000 shares during the last quarter. Institutional investors own 73.79% of the company’s stock.
About Cisco Systems
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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