Cisco Systems, Inc. (CSCO) Expected to Announce Earnings of $0.72 Per Share

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Wall Street analysts expect Cisco Systems, Inc. (NASDAQ:CSCO) to post $0.72 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Nine analysts have issued estimates for Cisco Systems’ earnings, with estimates ranging from $0.71 to $0.73. Cisco Systems reported earnings per share of $0.61 in the same quarter last year, which indicates a positive year over year growth rate of 18%. The company is scheduled to report its next earnings results after the market closes on Wednesday, November 14th.

According to Zacks, analysts expect that Cisco Systems will report full year earnings of $2.97 per share for the current year, with EPS estimates ranging from $2.91 to $3.10. For the next financial year, analysts forecast that the company will post earnings of $3.24 per share, with EPS estimates ranging from $3.13 to $3.35. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow Cisco Systems.

Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, August 15th. The network equipment provider reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.69 by $0.01. Cisco Systems had a return on equity of 22.12% and a net margin of 0.22%. The firm had revenue of $12.84 billion for the quarter, compared to analysts’ expectations of $12.76 billion. During the same quarter in the previous year, the company earned $0.61 earnings per share. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year.

Several equities research analysts recently commented on CSCO shares. Zacks Investment Research raised Cisco Systems from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Tuesday, July 24th. JPMorgan Chase & Co. set a $59.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Thursday, August 16th. Goldman Sachs Group reaffirmed a “buy” rating and set a $56.00 price objective on shares of Cisco Systems in a research note on Thursday, August 16th. BidaskClub raised shares of Cisco Systems from a “hold” rating to a “buy” rating in a research note on Friday, August 10th. Finally, Piper Jaffray Companies set a $50.00 price objective on shares of Cisco Systems and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Eight analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $48.76.

In other news, CFO Kelly A. Kramer sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $47.20, for a total transaction of $3,304,000.00. Following the transaction, the chief financial officer now directly owns 720,930 shares in the company, valued at $34,027,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark D. Chandler sold 31,842 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total transaction of $1,502,942.40. The disclosure for this sale can be found here. Insiders have sold 450,620 shares of company stock worth $21,322,282 over the last quarter. 0.03% of the stock is owned by company insiders.

Several hedge funds have recently made changes to their positions in CSCO. Knights of Columbus Asset Advisors LLC lifted its holdings in Cisco Systems by 47.1% in the first quarter. Knights of Columbus Asset Advisors LLC now owns 121,025 shares of the network equipment provider’s stock valued at $5,191,000 after buying an additional 38,725 shares during the period. Covington Investment Advisors Inc. acquired a new position in Cisco Systems in the first quarter valued at approximately $5,331,000. Winfield Associates Inc. lifted its holdings in Cisco Systems by 121.0% in the first quarter. Winfield Associates Inc. now owns 4,671 shares of the network equipment provider’s stock valued at $200,000 after buying an additional 2,557 shares during the period. United Capital Financial Advisers LLC lifted its holdings in Cisco Systems by 2.8% in the first quarter. United Capital Financial Advisers LLC now owns 2,078,752 shares of the network equipment provider’s stock valued at $89,158,000 after buying an additional 56,027 shares during the period. Finally, KBC Group NV lifted its holdings in Cisco Systems by 29.6% in the first quarter. KBC Group NV now owns 2,095,433 shares of the network equipment provider’s stock valued at $89,873,000 after buying an additional 478,673 shares during the period. Institutional investors own 71.52% of the company’s stock.

NASDAQ:CSCO traded down $1.33 during midday trading on Monday, hitting $47.11. 22,005,607 shares of the stock were exchanged, compared to its average volume of 24,590,170. Cisco Systems has a one year low of $33.67 and a one year high of $49.47. The stock has a market cap of $230.76 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.83 and a beta of 1.11. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 2.22.

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 24th. Stockholders of record on Friday, October 5th were given a dividend of $0.33 per share. The ex-dividend date of this dividend was Thursday, October 4th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 2.80%. Cisco Systems’s payout ratio is 56.41%.

Cisco Systems Company Profile

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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Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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