Cisco Systems (NASDAQ:CSCO) Releases Q2 Earnings Guidance

Share on StockTwits

Cisco Systems (NASDAQ:CSCO) issued an update on its second quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.75-0.77 for the period, compared to the Thomson Reuters consensus estimate of $0.79. The company issued revenue guidance of down 3-5% to ~$11.82-12.07 billion, compared to the consensus revenue estimate of $12.77 billion.

Shares of NASDAQ:CSCO traded up $0.09 during midday trading on Wednesday, reaching $48.46. The company’s stock had a trading volume of 26,979,400 shares, compared to its average volume of 20,426,281. The firm has a market cap of $207.23 billion, a price-to-earnings ratio of 17.00, a price-to-earnings-growth ratio of 2.37 and a beta of 1.28. The company has a quick ratio of 1.46, a current ratio of 1.51 and a debt-to-equity ratio of 0.43. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $58.26. The business has a 50 day moving average price of $47.49 and a 200 day moving average price of $51.91.

Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, November 13th. The network equipment provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The business had revenue of $13.16 billion during the quarter, compared to the consensus estimate of $13.09 billion. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business’s revenue for the quarter was up .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.75 earnings per share. Sell-side analysts anticipate that Cisco Systems will post 3.03 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Friday, October 4th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, October 3rd. Cisco Systems’s payout ratio is currently 49.12%.

A number of research analysts recently weighed in on CSCO shares. JPMorgan Chase & Co. set a $62.00 target price on Cisco Systems and gave the company a buy rating in a report on Monday, August 12th. Goldman Sachs Group cut Cisco Systems from a buy rating to a neutral rating and reduced their target price for the company from $56.00 to $48.00 in a report on Thursday, October 10th. ValuEngine cut Cisco Systems from a hold rating to a sell rating in a report on Friday, November 1st. Piper Jaffray Companies cut Cisco Systems from an overweight rating to a neutral rating and reduced their target price for the company from $55.00 to $51.00 in a report on Monday. Finally, KeyCorp reduced their target price on Cisco Systems from $56.00 to $54.00 and set an overweight rating on the stock in a report on Thursday, October 17th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nineteen have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus price target of $55.76.

In other news, CEO Charles Robbins sold 18,955 shares of Cisco Systems stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $50.04, for a total transaction of $948,508.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP David Goeckeler sold 70,000 shares of Cisco Systems stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $49.22, for a total value of $3,445,400.00. Following the sale, the executive vice president now directly owns 429,398 shares in the company, valued at $21,134,969.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 193,130 shares of company stock worth $9,359,179. 0.03% of the stock is currently owned by insiders.

About Cisco Systems

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.

Recommended Story: What can cause a stock to outperform?

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

Receive News & Ratings for Cisco Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cisco Systems and related companies with MarketBeat.com's FREE daily email newsletter.