Cisco Systems (NASDAQ: CSCO) Releases Quarterly Results, Beats $ 0.02 Per Share Estimate
Cisco Systems (NASDAQ: CSCO) released its quarterly results on Wednesday. The network equipment provider reported earnings per share (EPS) of $ 0.82 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.80 per $ 0.02, MarketWatch Results reports. Cisco Systems reported a return on equity of 30.82% and a net margin of 21.26%. The company posted revenue of $ 12.90 billion for the quarter, compared to a consensus estimate of $ 12.98 billion. In the same quarter of the previous year, the company made EPS of $ 0.68. The company’s quarterly revenue increased 8.1% compared to the same quarter last year.
NASDAQ: CSCO traded at $ 0.24 on Wednesday, reaching $ 56.76. The company had a trade volume of 31,294,485 shares, compared to its average volume of 18,536,129. The stock has a market capitalization of $ 239.39 billion, a price / earnings ratio of 22.70, a PEG ratio of 2.64 and a beta of 0.92. The company has a current ratio of 1.49, a quick ratio of 1.43, and a debt ratio of 0.22. The company has a 50-day moving average of $ 56.17 and a two-hundred-day moving average of $ 55.14. Cisco Systems has a 52-week low of $ 40.77 and a 52-week high of $ 60.27.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 27. Shareholders of record on Tuesday, October 5, received a dividend of $ 0.37 per share. This represents a dividend of $ 1.48 on an annualized basis and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday October 4. Cisco Systems’ dividend payout ratio (DPR) is currently 59.20%.
The CSCO has been the subject of a number of research analyst reports. Credit Suisse Group upgraded Cisco Systems from a ‘neutral’ to an ‘outperforming’ rating and raised its price target for the company from $ 56.00 to $ 74.00 in a research report released on Thursday September 16. JMP Securities reaffirmed Cisco Systems’ hold rating in a research note on Thursday, September 16. Wells Fargo & Company raised its price target for Cisco Systems stock from $ 65.00 to $ 70.00 and rated the company as “overweight” in a research note on Thursday, September 9. Piper Sandler raised her target price for Cisco Systems stock from $ 53.00 to $ 57.00 and rated the stock “neutral” in a report released Thursday, September 16. Finally, Raymond James raised his Cisco Systems stock price target from $ 57.00 to $ 64.00 and gave the company an “outperformance” rating in a report released Thursday, September 16. Twelve investment analysts rated the stock with a conservation rating and nine gave the company a buy rating. According to data from MarketBeat.com, the stock has an average “Hold” rating and a consensus price target of $ 62.29.
In other news from Cisco Systems, CEO Charles Robbins sold 6,543 shares in a trade on Wednesday, August 25. The stock was sold for an average price of $ 59.69, for a total trade of $ 390,551.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, please Prat Bhatt sold 468 shares of the company in a trade on Monday, September 13. The stock was sold for an average price of $ 58.35, for a total value of $ 27,307.80. Disclosure of this sale can be found here. Insiders have sold 64,529 shares of the company valued at $ 3,827,391 in the past ninety days. Insiders own 0.02% of the company’s shares.
About Cisco Systems
Cisco Systems, Inc. is engaged in the design, manufacture and sale of Internet Protocol-based network products and services related to the communications and information technology industry. The company operates through the following geographic segments: the Americas, EMEA and APJC. Its product categories include: switches, routers, wireless, network management interfaces and modules, optical networks, access points, outdoor and industrial access points, next-generation firewalls, advanced software protection malicious, VPN security clients, email and web security.
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