Credit Suisse Group Cuts Cisco Systems (NASDAQ:CSCO) Price Target to $50.00

Cisco Systems (NASDAQ:CSCO) had its target price decreased by Credit Suisse Group from $52.00 to $50.00 in a report issued on Thursday morning, AnalystRatings.com reports. Credit Suisse Group currently has a neutral rating on the network equipment provider’s stock.

A number of other research firms also recently issued reports on CSCO. KeyCorp dropped their price target on Cisco Systems from $60.00 to $56.00 and set an overweight rating on the stock in a research note on Thursday. UBS Group set a $61.00 price target on Cisco Systems and gave the stock a buy rating in a research note on Wednesday, June 26th. Oppenheimer lifted their target price on Cisco Systems from $52.00 to $60.00 and gave the company an outperform rating in a research report on Friday, April 26th. William Blair downgraded Cisco Systems from an outperform rating to a market perform rating and set a $56.10 target price on the stock. in a research report on Wednesday, June 12th. Finally, Citigroup lowered their target price on Cisco Systems from $65.00 to $57.00 and set a buy rating on the stock in a research report on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty have issued a buy rating to the company’s stock. Cisco Systems has an average rating of Buy and a consensus price target of $56.59.

CSCO stock opened at $46.96 on Thursday. The company has a market cap of $197.98 billion, a P/E ratio of 16.48, a price-to-earnings-growth ratio of 2.12 and a beta of 1.18. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $58.26. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.51 and a quick ratio of 1.64. The stock’s fifty day moving average price is $55.20 and its 200-day moving average price is $53.85.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, August 14th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.01. The firm had revenue of $13.43 billion for the quarter, compared to the consensus estimate of $13.39 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same period last year, the business posted $0.70 EPS. As a group, analysts expect that Cisco Systems will post 3.11 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 24th. Investors of record on Friday, July 5th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.40 annualized dividend and a yield of 2.98%. Cisco Systems’s dividend payout ratio (DPR) is presently 49.12%.

In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $53.56, for a total transaction of $3,749,200.00. Following the sale, the chief financial officer now directly owns 349,122 shares of the company’s stock, valued at $18,698,974.32. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Steven M. West sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $56.21, for a total value of $1,124,200.00. Following the sale, the director now directly owns 5,263 shares in the company, valued at $295,833.23. The disclosure for this sale can be found here. Insiders have sold 95,129 shares of company stock worth $5,159,754 over the last quarter. 0.03% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Evolution Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the second quarter worth about $33,000. Lowe Wealth Advisors LLC bought a new stake in shares of Cisco Systems in the second quarter worth about $38,000. Personal Wealth Partners bought a new stake in shares of Cisco Systems in the second quarter worth about $44,000. Ashburton Jersey Ltd bought a new stake in shares of Cisco Systems in the second quarter worth about $49,000. Finally, Lucia Wealth Services LLC increased its holdings in shares of Cisco Systems by 72.3% in the second quarter. Lucia Wealth Services LLC now owns 1,144 shares of the network equipment provider’s stock worth $63,000 after purchasing an additional 480 shares during the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.

About Cisco Systems

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.

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