Cisco Systems, Inc. (NASDAQ:CSCO) – Stock analysts at Oppenheimer upped their Q3 2018 earnings per share (EPS) estimates for Cisco Systems in a research note issued to investors on Wednesday. Oppenheimer analyst I. Kidron now anticipates that the network equipment provider will post earnings per share of $0.60 for the quarter, up from their previous estimate of $0.55. Oppenheimer currently has a “Outperform” rating and a $50.00 target price on the stock. Oppenheimer also issued estimates for Cisco Systems’ Q4 2018 earnings at $0.61 EPS, Q1 2019 earnings at $0.62 EPS, Q2 2019 earnings at $0.60 EPS, Q3 2019 earnings at $0.64 EPS and Q4 2019 earnings at $0.67 EPS.
Cisco Systems (NASDAQ:CSCO) last posted its quarterly earnings results on Wednesday, February 14th. The network equipment provider reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The business had revenue of $11.89 billion during the quarter, compared to analyst estimates of $11.82 billion. Cisco Systems had a positive return on equity of 17.77% and a negative net margin of 3.00%. During the same period in the prior year, the business earned $0.57 earnings per share.
Shares of Cisco Systems (NASDAQ:CSCO) opened at $44.33 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.43 and a quick ratio of 2.81. The stock has a market capitalization of $219,150.00, a P/E ratio of -138.53, a PEG ratio of 3.98 and a beta of 1.23. Cisco Systems has a 52-week low of $30.36 and a 52-week high of $45.13.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Opes Advisors Inc increased its holdings in Cisco Systems by 0.6% in the second quarter. Opes Advisors Inc now owns 7,475 shares of the network equipment provider’s stock valued at $236,000 after buying an additional 44 shares during the last quarter. Leisure Capital Management increased its holdings in Cisco Systems by 0.6% in the second quarter. Leisure Capital Management now owns 7,454 shares of the network equipment provider’s stock valued at $233,000 after buying an additional 48 shares during the last quarter. Ronald Blue & Co. LLC increased its holdings in Cisco Systems by 0.3% in the second quarter. Ronald Blue & Co. LLC now owns 17,912 shares of the network equipment provider’s stock valued at $561,000 after buying an additional 57 shares during the last quarter. GM Advisory Group Inc. increased its holdings in Cisco Systems by 0.3% in the second quarter. GM Advisory Group Inc. now owns 19,548 shares of the network equipment provider’s stock valued at $612,000 after buying an additional 61 shares during the last quarter. Finally, Telemus Capital LLC increased its holdings in Cisco Systems by 0.6% in the second quarter. Telemus Capital LLC now owns 12,235 shares of the network equipment provider’s stock valued at $383,000 after buying an additional 72 shares during the last quarter. Institutional investors and hedge funds own 75.42% of the company’s stock.
In other news, SVP Rebecca Jacoby sold 75,021 shares of the 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 directly owns 257,476 shares in the company, valued at $9,892,227.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Roderick C. Mcgeary sold 15,230 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $38.00, for a total value of $578,740.00. Following the completion of the sale, the director now owns 113,154 shares in the company, valued at $4,299,852. The disclosure for this sale can be found here. Insiders have sold 348,643 shares of company stock worth $12,892,271 over the last 90 days. 0.05% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 25th. Shareholders of record on Thursday, April 5th will be paid a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 2.98%. This is a boost from Cisco Systems’s previous quarterly dividend of $0.29. The ex-dividend date of this dividend is Wednesday, April 4th. Cisco Systems’s dividend payout ratio is -362.50%.
Cisco Systems declared that its board has approved a stock repurchase plan on Wednesday, February 14th that allows the company to repurchase $25.00 billion in outstanding shares. This repurchase authorization allows the network equipment provider to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.
ILLEGAL ACTIVITY WARNING: This story was first reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this story on another publication, it was illegally stolen and reposted in violation of US & international copyright legislation. The correct version of this story can be read at https://www.chaffeybreeze.com/2018/02/19/q3-2018-earnings-estimate-for-cisco-systems-inc-csco-issued-by-oppenheimer.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).
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.