Zacks: Brokerages Expect Citrix Systems, Inc. (NASDAQ:CTXS) Will Announce Quarterly Sales of $828.58 Million

Analysts expect Citrix Systems, Inc. (NASDAQ:CTXS) to report $828.58 million in sales for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Citrix Systems’ earnings, with the highest sales estimate coming in at $845.30 million and the lowest estimate coming in at $780.30 million. Citrix Systems reported sales of $798.93 million during the same quarter last year, which indicates a positive year-over-year growth rate of 3.7%. The business is expected to announce its next quarterly earnings results on Thursday, July 22nd.

According to Zacks, analysts expect that Citrix Systems will report full year sales of $3.36 billion for the current year, with estimates ranging from $3.18 billion to $3.41 billion. For the next financial year, analysts expect that the business will report sales of $3.69 billion, with estimates ranging from $3.27 billion to $4.06 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last issued its quarterly earnings results on Thursday, April 29th. The cloud computing company reported $1.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.43 by ($0.01). The company had revenue of $776.00 million during the quarter, compared to the consensus estimate of $798.74 million. Citrix Systems had a net margin of 13.11% and a return on equity of 547.90%. The company’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.73 earnings per share.

Several research firms have commented on CTXS. Morgan Stanley decreased their target price on shares of Citrix Systems from $150.00 to $143.00 and set an “equal weight” rating on the stock in a report on Friday, April 30th. Jefferies Financial Group upgraded Citrix Systems from a “hold” rating to a “buy” rating and upped their target price for the stock from $150.00 to $180.00 in a research note on Wednesday, April 21st. Bank of America assumed coverage on Citrix Systems in a report on Tuesday, April 13th. They set an “underperform” rating for the company. Finally, Zacks Investment Research lowered Citrix Systems from a “hold” rating to a “strong sell” rating and set a $106.00 price objective on the stock. in a research note on Wednesday, May 5th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Citrix Systems presently has an average rating of “Hold” and a consensus target price of $160.20.

In other news, CMO Timothy A. Minahan sold 2,620 shares of Citrix Systems stock in a transaction on Tuesday, March 30th. The shares were sold at an average price of $137.05, for a total transaction of $359,071.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Arlen Shenkman sold 673 shares of the business’s stock in a transaction on Monday, April 5th. The stock was sold at an average price of $138.55, for a total transaction of $93,244.15. Following the completion of the sale, the chief financial officer now directly owns 72,639 shares in the company, valued at approximately $10,064,133.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,747 shares of company stock worth $3,298,462. Company insiders own 0.61% of the company’s stock.

Several institutional investors have recently bought and sold shares of CTXS. Annapolis Financial Services LLC bought a new position in Citrix Systems during the 4th quarter worth approximately $26,000. Retirement Group LLC bought a new stake in Citrix Systems during the fourth quarter valued at $26,000. Childress Capital Advisors LLC acquired a new stake in Citrix Systems during the 4th quarter worth about $27,000. SOA Wealth Advisors LLC. acquired a new position in shares of Citrix Systems in the 4th quarter valued at about $29,000. Finally, Arkadios Wealth Advisors grew its stake in Citrix Systems by 95.6% during the first quarter. Arkadios Wealth Advisors now owns 264 shares of the cloud computing company’s stock worth $37,000 after purchasing an additional 129 shares during the period. 90.27% of the stock is currently owned by institutional investors.

CTXS stock traded up $0.95 during midday trading on Friday, reaching $118.65. The company had a trading volume of 849,325 shares, compared to its average volume of 1,264,476. Citrix Systems has a 1-year low of $111.26 and a 1-year high of $173.56. The company’s 50 day simple moving average is $126.88. The company has a debt-to-equity ratio of 13.91, a current ratio of 0.69 and a quick ratio of 0.68. The stock has a market capitalization of $14.73 billion, a P/E ratio of 36.00, a price-to-earnings-growth ratio of 2.89 and a beta of 0.15.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 25th. Shareholders of record on Friday, June 11th will be given a $0.37 dividend. The ex-dividend date is Thursday, June 10th. This represents a $1.48 annualized dividend and a yield of 1.25%. Citrix Systems’s dividend payout ratio is presently 35.49%.

Citrix Systems Company Profile

Citrix Systems, Inc, an enterprise software company, provides workspace, app delivery and security, and professional services worldwide. The company offers workspace services, including Citrix Workspace; Citrix Virtual Apps and Desktops; Citrix Content Collaboration, a cloud-based file sharing and storage solution, which provides enterprise-class data services on various corporate and personal mobile devices for businesses; Citrix Endpoint Management for mobility and device management capabilities; Citrix Analytics for Security that assesses the behavior of Citrix Virtual Apps and Desktops, and Citrix Workspace users and applies actions to protect sensitive corporate information; Citrix Analytics for Performance that uses machine learning to quantify user experience; Citrix Secure Workspace Access, which provides an end-to-end solution to implement Zero Trust principles; and Citrix Secure Internet Access, which provides a solution that protects direct internet access for branch and remote workers using unsanctioned apps.

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