Cisco Systems (CSCO) Price Target Raised to $49.00 at KeyCorp

Cisco Systems (NASDAQ:CSCO) had its price objective boosted by investment analysts at KeyCorp from $43.00 to $49.00 in a research report issued on Thursday, MarketBeat.com reports. The brokerage presently has an “overweight” rating on the network equipment provider’s stock. KeyCorp’s price target would suggest a potential upside of 10.53% from the company’s previous close.

CSCO has been the subject of a number of other research reports. Oppenheimer restated a “buy” rating and set a $36.00 price objective on shares of Cisco Systems in a research report on Friday, October 20th. Wells Fargo & Co restated an “outperform” rating and set a $42.00 price objective on shares of Cisco Systems in a research report on Tuesday, November 14th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research report on Wednesday, January 17th. Vetr upgraded Cisco Systems from a “sell” rating to a “hold” rating and set a $38.01 price objective for the company in a research report on Wednesday, December 27th. Finally, Needham & Company LLC restated a “hold” rating on shares of Cisco Systems in a research report on Tuesday, October 24th. Eleven investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. Cisco Systems has a consensus rating of “Buy” and an average price target of $43.57.

Cisco Systems (NASDAQ:CSCO) traded up $0.25 during trading hours on Thursday, reaching $44.33. The company had a trading volume of 38,624,634 shares, compared to its average volume of 30,950,000. Cisco Systems has a twelve month low of $30.36 and a twelve month high of $45.13. The firm has a market cap of $219,150.00, a price-to-earnings ratio of -138.53, a P/E/G ratio of 3.78 and a beta of 1.23. The company has a quick ratio of 2.81, a current ratio of 2.87 and a debt-to-equity ratio of 0.39.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings data on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.04. Cisco Systems had a positive return on equity of 16.84% and a negative net margin of 3.00%. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.82 billion. During the same quarter in the previous year, the firm posted $0.57 EPS. sell-side analysts forecast that Cisco Systems will post 2.23 EPS for the current fiscal year.

Cisco Systems announced that its board has approved a share buyback program on Wednesday, February 14th that permits the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization permits the network equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

In other news, SVP Rebecca Jacoby sold 75,021 shares of the business’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $38.42, for a total value of $2,882,306.82. Following the sale, the senior vice president now owns 257,476 shares of the company’s stock, valued at approximately $9,892,227.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John T. Chambers sold 250,000 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $36.50, for a total value of $9,125,000.00. Following the completion of the sale, the insider now directly owns 712,736 shares in the company, valued at approximately $26,014,864. The disclosure for this sale can be found here. Insiders sold a total of 348,643 shares of company stock worth $12,892,271 in the last three months. Company insiders own 0.05% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of CSCO. Vanguard Group Inc. raised its position in shares of Cisco Systems by 2.2% during the second quarter. Vanguard Group Inc. now owns 352,120,694 shares of the network equipment provider’s stock worth $11,021,378,000 after purchasing an additional 7,411,891 shares during the period. Bank of New York Mellon Corp raised its position in shares of Cisco Systems by 12.8% during the fourth quarter. Bank of New York Mellon Corp now owns 122,958,272 shares of the network equipment provider’s stock worth $4,709,302,000 after purchasing an additional 13,927,416 shares during the period. Ameriprise Financial Inc. raised its position in shares of Cisco Systems by 23.6% during the third quarter. Ameriprise Financial Inc. now owns 62,709,508 shares of the network equipment provider’s stock worth $2,109,614,000 after purchasing an additional 11,972,070 shares during the period. Geode Capital Management LLC raised its position in shares of Cisco Systems by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 55,764,986 shares of the network equipment provider’s stock worth $2,131,581,000 after purchasing an additional 909,507 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Cisco Systems by 6.5% during the third quarter. Dimensional Fund Advisors LP now owns 48,741,535 shares of the network equipment provider’s stock worth $1,639,089,000 after purchasing an additional 2,987,682 shares during the period. 75.42% of the stock is currently owned by institutional investors.

COPYRIGHT VIOLATION NOTICE: This piece was originally published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another site, it was illegally copied and reposted in violation of U.S. & international trademark and copyright legislation. The correct version of this piece can be viewed at https://www.chaffeybreeze.com/2018/02/15/cisco-systems-csco-pt-set-at-49-00-by-keycorp.html.

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).

Analyst Recommendations for Cisco Systems (NASDAQ:CSCO)

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply