Cisco Systems, Inc. (CSCO) Updates Q4 Earnings Guidance

Cisco Systems, Inc. (NASDAQ:CSCO) updated its fourth quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.60-0.62 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.62. The company issued revenue guidance of down 4-6% to $11.88-12.13 billion, compared to the consensus revenue estimate of $12.53 billion.

A number of research firms recently commented on CSCO. Raymond James Financial, Inc. restated an outperform rating on shares of Cisco Systems in a research report on Friday, February 17th. Robert W. Baird restated a buy rating on shares of Cisco Systems in a research report on Thursday, May 18th. Drexel Hamilton restated a buy rating and issued a $40.00 price objective on shares of Cisco Systems in a research report on Tuesday, May 23rd. Vetr cut Cisco Systems from a hold rating to a sell rating and set a $31.80 target price for the company. in a report on Thursday, February 16th. Finally, Jefferies Group LLC reiterated a buy rating and set a $37.00 target price on shares of Cisco Systems in a report on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twenty-two have assigned a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $35.19.

Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

Cisco Systems, Inc. (NASDAQ CSCO) traded up 0.16% during midday trading on Friday, hitting $31.63. 36,367,419 shares of the stock traded hands. The stock’s 50-day moving average price is $32.56 and its 200-day moving average price is $32.16. Cisco Systems, Inc. has a 52 week low of $27.13 and a 52 week high of $34.60. The stock has a market capitalization of $158.15 billion, a P/E ratio of 16.06 and a beta of 1.23. Cisco Systems also saw unusually large options trading activity on Tuesday. Stock investors purchased 12,632 call options on the stock. This represents an increase of 278% compared to the typical volume of 3,338 call options.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.02. The company had revenue of $11.94 billion during the quarter, compared to analyst estimates of $11.90 billion. Cisco Systems had a net margin of 20.61% and a return on equity of 17.31%. Cisco Systems’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. Equities research analysts expect that Cisco Systems, Inc. will post $2.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 26th. Investors of record on Friday, July 7th will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, July 5th. This represents a $1.16 annualized dividend and a dividend yield of 3.67%. Cisco Systems’s payout ratio is 58.29%.

In other Cisco Systems news, SVP Rebecca Jacoby sold 92,840 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $31.71, for a total transaction of $2,943,956.40. Following the completion of the sale, the senior vice president now directly owns 271,725 shares in the company, valued at approximately $8,616,399.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $31.52, for a total transaction of $9,315,326.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 396,179 shares of company stock valued at $12,503,407. 0.11% of the stock is owned by company insiders.

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A number of hedge funds have recently added to or reduced their stakes in the stock. Southeast Asset Advisors Inc. raised its stake in shares of Cisco Systems by 0.5% in the first quarter. Southeast Asset Advisors Inc. now owns 9,233 shares of the network equipment provider’s stock worth $312,000 after buying an additional 44 shares in the last quarter. Eagle Ridge Investment Management raised its stake in shares of Cisco Systems by 0.6% in the first quarter. Eagle Ridge Investment Management now owns 8,462 shares of the network equipment provider’s stock worth $286,000 after buying an additional 47 shares in the last quarter. Front Street Capital Management Inc. raised its stake in shares of Cisco Systems by 0.5% in the first quarter. Front Street Capital Management Inc. now owns 11,478 shares of the network equipment provider’s stock worth $388,000 after buying an additional 53 shares in the last quarter. Farmers National Bank raised its stake in shares of Cisco Systems by 1.3% in the first quarter. Farmers National Bank now owns 6,344 shares of the network equipment provider’s stock worth $201,000 after buying an additional 83 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC raised its stake in shares of Cisco Systems by 0.9% in the first quarter. Northwest Quadrant Wealth Management LLC now owns 10,795 shares of the network equipment provider’s stock worth $370,000 after buying an additional 93 shares in the last quarter. Institutional investors and hedge funds own 76.11% of the company’s stock.

Cisco Systems Company Profile

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).

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