Analysts Expect Citrix Systems (CTXS) Will Announce Quarterly Sales of $675.78 Million

Analysts expect that Citrix Systems (NASDAQ:CTXS) will post $675.78 million in sales for the current fiscal quarter, Zacks reports. Nine analysts have provided estimates for Citrix Systems’ earnings, with the highest sales estimate coming in at $682.70 million and the lowest estimate coming in at $670.30 million. Citrix Systems reported sales of $662.68 million during the same quarter last year, which would suggest a positive year over year growth rate of 2%. The business is scheduled to issue its next earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that Citrix Systems will report full year sales of $2.88 billion for the current year, with estimates ranging from $2.86 billion to $2.96 billion. For the next year, analysts anticipate that the business will report sales of $2.98 billion per share, with estimates ranging from $2.94 billion to $3.15 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Citrix Systems.

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Citrix Systems (NASDAQ:CTXS) last issued its earnings results on Wednesday, January 31st. The cloud computing company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.60 by $0.06. The company had revenue of $777.90 million during the quarter, compared to analyst estimates of $778.49 million. Citrix Systems had a positive return on equity of 38.56% and a negative net margin of 0.73%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business posted $1.61 EPS.

A number of brokerages recently issued reports on CTXS. ValuEngine upgraded Citrix Systems from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub raised Citrix Systems from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, March 27th. Bank of America increased their price target on Citrix Systems from $91.00 to $97.00 and gave the stock a “neutral” rating in a research report on Thursday, February 1st. Mizuho reaffirmed a “buy” rating and set a $101.00 price target (up from $92.00) on shares of Citrix Systems in a research report on Wednesday, January 17th. Finally, Barclays downgraded Citrix Systems from an “overweight” rating to an “equal weight” rating and set a $90.00 price target on the stock. in a research report on Monday, January 8th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Citrix Systems has an average rating of “Hold” and an average target price of $94.44.

In other news, Chairman Robert Calderoni sold 2,655 shares of the firm’s stock in a transaction dated Tuesday, April 3rd. The stock was sold at an average price of $91.64, for a total transaction of $243,304.20. Following the sale, the chairman now directly owns 163,435 shares in the company, valued at approximately $14,977,183.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David J. Henshall sold 12,500 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $92.62, for a total value of $1,157,750.00. Following the sale, the chief executive officer now owns 281,777 shares in the company, valued at $26,098,185.74. The disclosure for this sale can be found here. Insiders have sold a total of 82,010 shares of company stock worth $7,786,462 over the last ninety days. 0.44% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Citrix Systems by 4.2% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 14,074 shares of the cloud computing company’s stock valued at $1,239,000 after acquiring an additional 571 shares during the period. Norinchukin Bank The grew its position in shares of Citrix Systems by 6.8% during the 4th quarter. Norinchukin Bank The now owns 11,445 shares of the cloud computing company’s stock valued at $1,007,000 after acquiring an additional 732 shares during the period. Twin Capital Management Inc. grew its position in shares of Citrix Systems by 1.2% during the 4th quarter. Twin Capital Management Inc. now owns 65,080 shares of the cloud computing company’s stock valued at $5,727,000 after acquiring an additional 790 shares during the period. Harrington Investments INC grew its position in shares of Citrix Systems by 15.5% during the 4th quarter. Harrington Investments INC now owns 6,490 shares of the cloud computing company’s stock valued at $571,000 after acquiring an additional 870 shares during the period. Finally, Public Employees Retirement Association of Colorado grew its position in shares of Citrix Systems by 3.4% during the 4th quarter. Public Employees Retirement Association of Colorado now owns 29,541 shares of the cloud computing company’s stock valued at $2,600,000 after acquiring an additional 963 shares during the period. Hedge funds and other institutional investors own 91.46% of the company’s stock.

CTXS stock traded up $0.46 during midday trading on Monday, reaching $97.03. The stock had a trading volume of 1,013,076 shares, compared to its average volume of 1,687,257. The firm has a market capitalization of $13,148.08, a price-to-earnings ratio of 23.44, a price-to-earnings-growth ratio of 3.04 and a beta of 1.27. The company has a debt-to-equity ratio of 2.14, a current ratio of 1.55 and a quick ratio of 1.55. Citrix Systems has a 52-week low of $73.33 and a 52-week high of $98.60.

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About Citrix Systems

Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.

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Earnings History and Estimates for Citrix Systems (NASDAQ:CTXS)

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