Cisco Systems (CSCO) Announces Earnings Results, Beats Estimates By $0.04 EPS

Cisco Systems (NASDAQ:CSCO) posted its quarterly earnings results on Wednesday. The network equipment provider reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04, Bloomberg Earnings reports. Cisco Systems had a return on equity of 16.64% and a net margin of 20.26%. During the same period in the prior year, the firm earned $0.57 earnings per share. Cisco Systems updated its Q3 guidance to $0.64-0.66 EPS.

Cisco Systems (NASDAQ:CSCO) traded up $0.86 during trading hours on Thursday, hitting $42.09. The stock had a trading volume of 43,788,000 shares, compared to its average volume of 28,479,959. The company has a market capitalization of $219,270.00, a PE ratio of -136.59, a P/E/G ratio of 3.71 and a beta of 1.23. The company has a debt-to-equity ratio of 0.39, a quick ratio of 2.81 and a current ratio of 2.87. Cisco Systems has a 52 week low of $30.36 and a 52 week high of $44.44.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Stockholders of record on Thursday, April 5th will be issued a dividend of $0.33 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. This represents a $1.32 annualized dividend and a dividend yield of 3.14%. Cisco Systems’s payout ratio is -362.50%.

CSCO has been the subject of a number of analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $36.00 price target on shares of Cisco Systems in a research note on Friday, October 20th. Wells Fargo & Co reissued an “outperform” rating and set a $42.00 target price on shares of Cisco Systems in a research note on Tuesday, November 14th. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, January 17th. Vetr raised Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 target price for the company in a research note on Wednesday, December 27th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Cisco Systems in a research note on Tuesday, October 24th. Eleven equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $42.41.

In other news, Director Roderick C. Mcgeary sold 15,230 shares of the business’s stock in a transaction dated Thursday, December 14th. The stock was sold at an average price of $38.00, for a total transaction of $578,740.00. Following the sale, the director now directly owns 113,154 shares in the company, valued at $4,299,852. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Prat Bhatt sold 2,606 shares of the business’s stock in a transaction dated Wednesday, November 22nd. The stock was sold at an average price of $36.49, for a total value of $95,092.94. Following the sale, the chief accounting officer now owns 89,184 shares in the company, valued at $3,254,324.16. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 348,643 shares of company stock worth $12,892,271. Company insiders own 0.05% of the company’s stock.

A number of hedge funds have recently made changes to their positions in CSCO. Beach Investment Management LLC. bought a new stake in Cisco Systems in the second quarter valued at approximately $1,030,000. Crawford Investment Counsel Inc. boosted its holdings in Cisco Systems by 150.2% in the second quarter. Crawford Investment Counsel Inc. now owns 497,444 shares of the network equipment provider’s stock valued at $15,570,000 after acquiring an additional 298,602 shares during the last quarter. Cornerstone Advisory LLP boosted its holdings in Cisco Systems by 6.3% in the second quarter. Cornerstone Advisory LLP now owns 8,355 shares of the network equipment provider’s stock valued at $262,000 after acquiring an additional 494 shares during the last quarter. Commerce Bank boosted its holdings in Cisco Systems by 98.0% in the second quarter. Commerce Bank now owns 1,268,079 shares of the network equipment provider’s stock valued at $39,691,000 after acquiring an additional 627,692 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC boosted its holdings in Cisco Systems by 0.7% in the second quarter. Marble Harbor Investment Counsel LLC now owns 445,417 shares of the network equipment provider’s stock valued at $13,942,000 after acquiring an additional 3,020 shares during the last quarter. Institutional investors and hedge funds own 75.42% of the company’s stock.

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About Cisco Systems

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).

Earnings History for Cisco Systems (NASDAQ:CSCO)

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