Cisco Systems (NASDAQ:CSCO) Announces Quarterly Earnings Results

Cisco Systems (NASDAQ:CSCO) released its quarterly earnings results on Wednesday. The network equipment provider reported $0.87 EPS for the quarter, beating the consensus estimate of $0.85 by $0.02, Briefing.com reports. The firm had revenue of $13.64 billion during the quarter, compared to analyst estimates of $13.53 billion. Cisco Systems had a net margin of 21.88% and a return on equity of 30.82%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.01 EPS.

Cisco Systems Trading Up 6.8 %

CSCO traded up $3.09 on Thursday, hitting $48.53. The company had a trading volume of 45,945,383 shares, compared to its average volume of 19,887,258. The business’s fifty day simple moving average is $46.62 and its 200 day simple moving average is $47.92. The company has a quick ratio of 0.82, a current ratio of 0.89 and a debt-to-equity ratio of 0.44. Cisco Systems has a 12-month low of $44.50 and a 12-month high of $58.19. The company has a market cap of $195.52 billion, a PE ratio of 16.24, a PEG ratio of 2.97 and a beta of 0.85.

Insider Buying and Selling at Cisco Systems

In other Cisco Systems news, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the completion of the transaction, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at $2,352,210.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 2,619 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $45.34, for a total value of $118,745.46. Following the transaction, the executive vice president now directly owns 176,384 shares in the company, valued at approximately $7,997,250.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Maria Victoria Wong sold 762 shares of Cisco Systems stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $45.42, for a total transaction of $34,610.04. Following the sale, the senior vice president now directly owns 51,788 shares of the company’s stock, valued at approximately $2,352,210.96. The disclosure for this sale can be found here. Insiders have sold a total of 41,106 shares of company stock worth $1,908,923 over the last ninety days. Company insiders own 0.02% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on CSCO. BNP Paribas raised shares of Cisco Systems from an “underperform” rating to a “neutral” rating and set a $50.00 target price for the company in a report on Monday, May 13th. Wells Fargo & Company raised their price objective on shares of Cisco Systems from $52.00 to $57.00 and gave the company an “equal weight” rating in a research report on Thursday, May 16th. Piper Sandler reaffirmed a “neutral” rating and issued a $52.00 target price on shares of Cisco Systems in a report on Thursday. Needham & Company LLC reiterated a “hold” rating on shares of Cisco Systems in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on Cisco Systems from $53.00 to $55.00 and gave the company a “hold” rating in a research report on Thursday, August 8th. Despite investors’ hopes for a rebound in Networking Equipment demand to boost Cisco’s fourth-quarter 2024 performance, the anticipation is tempered by limited indications of a significant recovery in demand. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.63.

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 in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.