Cisco Systems, Inc. Forecasted to Earn FY2024 Earnings of $3.45 Per Share (NASDAQ:CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO – Free Report) – Research analysts at Zacks Research reduced their FY2024 earnings per share (EPS) estimates for Cisco Systems in a report released on Wednesday, November 29th. Zacks Research analyst A. Ganguly now forecasts that the network equipment provider will post earnings per share of $3.45 for the year, down from their prior estimate of $3.53. The consensus estimate for Cisco Systems’ current full-year earnings is $3.40 per share. Zacks Research also issued estimates for Cisco Systems’ Q2 2025 earnings at $0.83 EPS.
CSCO has been the topic of several other reports. Raymond James cut Cisco Systems from a “market perform” rating to an “underperform” rating in a research note on Monday, October 30th. Oppenheimer lowered their target price on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating for the company in a report on Thursday, November 16th. Rosenblatt Securities decreased their price objective on shares of Cisco Systems from $59.00 to $51.00 and set a “neutral” rating for the company in a report on Thursday, November 16th. New Street Research lowered shares of Cisco Systems from a “buy” rating to a “neutral” rating in a report on Thursday, November 16th. Finally, Bank of America lifted their target price on shares of Cisco Systems from $56.00 to $60.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 13th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $58.38.
View Our Latest Analysis on CSCO
Cisco Systems Stock Up 0.2 %
Shares of NASDAQ:CSCO opened at $48.47 on Monday. The stock’s 50-day moving average price is $51.88 and its 200-day moving average price is $52.42. Cisco Systems has a 12-month low of $45.56 and a 12-month high of $58.19. The stock has a market capitalization of $196.96 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 2.30 and a beta of 0.91. The company has a current ratio of 1.47, a quick ratio of 1.34 and a debt-to-equity ratio of 0.15.
Cisco Systems (NASDAQ:CSCO – Get Free Report) last released its earnings results on Wednesday, November 15th. The network equipment provider reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20. The business had revenue of $14.67 billion for the quarter, compared to analysts’ expectations of $14.63 billion. Cisco Systems had a return on equity of 34.41% and a net margin of 23.40%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 earnings per share.
Cisco Systems Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Thursday, January 4th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date is Wednesday, January 3rd. Cisco Systems’s dividend payout ratio (DPR) is 47.13%.
Insider Activity at Cisco Systems
In related news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now directly owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark Garrett sold 899 shares of the stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $47.88, for a total transaction of $43,044.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Deborah L. Stahlkopf sold 3,022 shares of the firm’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total transaction of $169,896.84. Following the completion of the sale, the executive vice president now owns 169,396 shares of the company’s stock, valued at approximately $9,523,443.12. The disclosure for this sale can be found here. Insiders have sold 33,766 shares of company stock valued at $1,646,712 in the last ninety days. Insiders own 0.02% of the company’s stock.
Hedge Funds Weigh In On Cisco Systems
Large investors have recently made changes to their positions in the stock. Kathleen S. Wright Associates Inc. acquired a new stake in shares of Cisco Systems in the third quarter worth approximately $27,000. Altshuler Shaham Ltd acquired a new position in Cisco Systems during the first quarter valued at approximately $32,000. Fortis Capital Advisors LLC acquired a new position in Cisco Systems during the fourth quarter valued at approximately $34,000. Tucker Asset Management LLC acquired a new position in Cisco Systems during the first quarter valued at approximately $35,000. Finally, Spotlight Asset Group Inc. acquired a new position in Cisco Systems during the second quarter valued at approximately $41,000. Hedge funds and other institutional investors own 72.21% of the company’s stock.
About Cisco Systems (Get Free Report)
Cisco Systems, Inc designs, manufactures, and sells Internet Protocol based networking and other products related to the communications and information technology industry in the Americas, Europe, the Middle East, Africa, the Asia Pacific, Japan, and China. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.
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