Cisco Systems (NASDAQ:CSCO) issued its quarterly earnings results on Wednesday. The network equipment provider reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.01, RTT News reports. Cisco Systems had a return on equity of 35.01% and a net margin of 21.15%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same quarter in the prior year, the business posted $0.73 EPS. Cisco Systems’s revenue for the quarter was down 3.6% compared to the same quarter last year. Cisco Systems updated its Q3 2020
After-Hours guidance to 0.79-0.81 EPS and its Q3 guidance to $0.79-0.81 EPS.
NASDAQ CSCO opened at $49.93 on Thursday. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.70 and a quick ratio of 1.64. The firm’s fifty day moving average price is $47.92 and its 200 day moving average price is $47.96. The company has a market capitalization of $207.32 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.84 and a beta of 1.22. Cisco Systems has a 12 month low of $43.40 and a 12 month high of $58.26.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 22nd. Shareholders of record on Friday, April 3rd will be given a $0.36 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 dividend on an annualized basis and a dividend yield of 2.88%. Cisco Systems’s dividend payout ratio is currently 49.12%.
CSCO has been the subject of a number of research analyst reports. BidaskClub upgraded Cisco Systems from a “sell” rating to a “hold” rating in a research report on Thursday. William Blair restated a “market perform” rating on shares of Cisco Systems in a research report on Thursday, November 14th. KeyCorp raised their price objective on Cisco Systems from $52.00 to $54.00 and gave the company an “overweight” rating in a research report on Wednesday, January 22nd. Wells Fargo & Co restated a “buy” rating and set a $58.00 price objective (down previously from $60.00) on shares of Cisco Systems in a research report on Thursday, November 14th. Finally, Goldman Sachs Group set a $48.00 price objective on Cisco Systems and gave the company a “neutral” rating in a research report on Thursday, November 14th. Thirteen analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.78.
In related news, EVP Irving Tan sold 28,093 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $45.36, for a total value of $1,274,298.48. Following the transaction, the executive vice president now directly owns 151,587 shares of the company’s stock, valued at approximately $6,875,986.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Kelly A. Kramer sold 70,000 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $45.19, for a total transaction of $3,163,300.00. Following the completion of the transaction, the chief financial officer now directly owns 352,587 shares in the company, valued at $15,933,406.53. The disclosure for this sale can be found here. Insiders sold a total of 388,864 shares of company stock worth $17,474,321 over the last ninety days. Insiders own 0.03% of the company’s stock.
Cisco Systems Company Profile
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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