Cisco Systems, Inc. (CSCO) Given a $37.00 Price Target by Sanford C. Bernstein Analysts
Cisco Systems, Inc. (NASDAQ:CSCO) has been assigned a $37.00 price objective by equities researchers at Sanford C. Bernstein in a research note issued to investors on Thursday. The firm presently has a “buy” rating on the network equipment provider’s stock. Sanford C. Bernstein’s price target would indicate a potential upside of 10.12% from the company’s previous close.
Several other research analysts have also recently commented on CSCO. Vetr cut shares of Cisco Systems from a “hold” rating to a “sell” rating and set a $31.80 target price on the stock. in a report on Thursday. Wunderlich reaffirmed a “hold” rating and set a $27.00 target price on shares of Cisco Systems in a report on Thursday. Robert W. Baird raised their target price on shares of Cisco Systems from $35.00 to $38.00 and gave the stock an “outperform” rating in a report on Thursday. Jefferies Group LLC raised their target price on shares of Cisco Systems from $33.30 to $37.00 and gave the stock a “buy” rating in a report on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of Cisco Systems in a research report on Thursday. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $33.87.
Shares of Cisco Systems (NASDAQ:CSCO) traded up 0.45% during mid-day trading on Thursday, hitting $33.75. 15,404,187 shares of the company’s stock traded hands. The company has a market cap of $169.42 billion, a PE ratio of 16.15 and a beta of 1.36. The firm has a 50-day moving average of $30.83 and a 200 day moving average of $30.79. Cisco Systems has a 52 week low of $25.65 and a 52 week high of $33.97.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, February 15th. The network equipment provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.01. Cisco Systems had a net margin of 21.73% and a return on equity of 17.50%. The company had revenue of $11.60 billion for the quarter, compared to analysts’ expectations of $11.55 billion. During the same period last year, the firm earned $0.57 earnings per share. Equities research analysts predict that Cisco Systems will post $2.37 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 26th. Shareholders of record on Thursday, April 6th will be paid a $0.29 dividend. This is an increase from Cisco Systems’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a yield of 3.45%. The ex-dividend date is Tuesday, April 4th. Cisco Systems’s payout ratio is 49.52%.
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In other Cisco Systems news, SVP Karen Walker sold 1,793 shares of Cisco Systems stock in a transaction on Friday, December 23rd. The shares were sold at an average price of $30.41, for a total value of $54,525.13. Following the completion of the sale, the senior vice president now directly owns 183,275 shares of the company’s stock, valued at $5,573,392.75. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
Large investors have recently bought and sold shares of the company. Advantage Investment Management LLC acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $216,000. Pittenger & Anderson Inc. increased its stake in Cisco Systems by 0.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 245,430 shares of the network equipment provider’s stock valued at $7,417,000 after buying an additional 1,015 shares during the last quarter. IFM Investors Pty Ltd acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $1,924,000. Heritage Way Advisors LLC acquired a new stake in Cisco Systems during the fourth quarter valued at approximately $1,624,000. Finally, Forbes J M & Co. LLP increased its stake in Cisco Systems by 3.0% in the fourth quarter. Forbes J M & Co. LLP now owns 213,747 shares of the network equipment provider’s stock valued at $6,459,000 after buying an additional 6,173 shares during the last quarter. 75.24% of the stock is owned by institutional investors.
Cisco Systems Company Profile
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).
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