Cisco Systems, Inc. (CSCO) Expected to Post Earnings of $0.72 Per Share

Wall Street analysts forecast that Cisco Systems, Inc. (NASDAQ:CSCO) will report earnings per share of $0.72 for the current quarter, according to Zacks Investment Research. Eight analysts have made estimates for Cisco Systems’ earnings, with the highest EPS estimate coming in at $0.73 and the lowest estimate coming in at $0.71. Cisco Systems reported earnings per share of $0.61 in the same quarter last year, which would suggest a positive year-over-year growth rate of 18%. The business is scheduled to report its next earnings report after the market closes on Wednesday, November 14th.

On average, analysts expect that Cisco Systems will report full-year earnings of $2.97 per share for the current fiscal year, with EPS estimates ranging from $2.91 to $3.10. For the next fiscal year, analysts expect that the company will report earnings of $3.24 per share, with EPS estimates ranging from $3.13 to $3.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Cisco Systems.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the firm earned $0.61 EPS.

Several equities research analysts have recently weighed in on CSCO shares. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research note on Tuesday, July 17th. JPMorgan Chase & Co. set a $59.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, August 16th. Morgan Stanley reduced their price objective on Cisco Systems from $50.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, July 19th. BidaskClub raised Cisco Systems from a “hold” rating to a “buy” rating in a research note on Tuesday, July 3rd. Finally, Piper Jaffray Companies set a $50.00 price objective on Cisco Systems and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. Cisco Systems has an average rating of “Buy” and an average target price of $48.76.

In other news, EVP Mark D. Chandler sold 31,842 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $3,304,000.00. Following the completion of the sale, the chief financial officer now directly owns 720,930 shares of the company’s stock, valued at approximately $34,027,896. The disclosure for this sale can be found here. In the last ninety days, insiders sold 450,620 shares of company stock valued at $21,322,282. 0.05% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Knights of Columbus Asset Advisors LLC raised its holdings in shares of Cisco Systems by 47.1% during the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock worth $5,191,000 after acquiring an additional 38,725 shares in the last quarter. Covington Investment Advisors Inc. purchased a new stake in shares of Cisco Systems during the first quarter worth $5,331,000. Winfield Associates Inc. raised its holdings in shares of Cisco Systems by 121.0% during the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock worth $200,000 after acquiring an additional 2,557 shares in the last quarter. United Capital Financial Advisers LLC raised its holdings in shares of Cisco Systems by 2.8% during the first quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock worth $89,158,000 after acquiring an additional 56,027 shares in the last quarter. Finally, KBC Group NV raised its holdings in shares of Cisco Systems by 29.6% during the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock worth $89,873,000 after acquiring an additional 478,673 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Shares of CSCO traded down $0.48 during trading hours on Thursday, hitting $45.46. 19,043,200 shares of the company were exchanged, compared to its average volume of 23,952,787. The firm has a market cap of $234.37 billion, a PE ratio of 19.43, a P/E/G ratio of 2.87 and a beta of 1.07. The company has a quick ratio of 2.22, a current ratio of 2.29 and a debt-to-equity ratio of 0.47. Cisco Systems has a one year low of $33.45 and a one year high of $49.47.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th will be given a $0.33 dividend. The ex-dividend date of this dividend is Thursday, October 4th. This represents a $1.32 annualized dividend and a dividend yield of 2.90%. Cisco Systems’s dividend payout ratio (DPR) is presently 56.41%.

Cisco Systems Company Profile

Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.

Further Reading: Leveraged Buyout (LBO) Explained

Get a free copy of the Zacks research report on Cisco Systems (CSCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.

Leave a Reply