$13.33 Billion in Sales Expected for Cisco Systems, Inc. (NASDAQ:CSCO) This Quarter

Wall Street brokerages predict that Cisco Systems, Inc. (NASDAQ:CSCO – Get Rating) will announce $13.33 billion in sales for the current quarter, according to Zacks Investment Research. Nine analysts have provided estimates for Cisco Systems’ earnings, with the lowest sales estimate coming in at $13.23 billion and the highest estimate coming in at $13.46 billion. Cisco Systems reported sales of $12.80 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.1%. The firm is expected to report its next earnings results after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Cisco Systems will report full-year sales of $52.84 billion for the current fiscal year, with estimates ranging from $52.76 billion to $53.06 billion. For the next year, analysts forecast that the firm will report sales of $55.73 billion, with estimates ranging from $55.14 billion to $56.25 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cisco Systems.

Cisco Systems (NASDAQ:CSCO – Get Rating) last posted its quarterly earnings data on Wednesday, May 18th. The network equipment provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.86 by $0.01. Cisco Systems had a net margin of 22.94% and a return on equity of 30.95%. During the same quarter last year, the company earned $0.75 EPS.

A number of research analysts recently weighed in on CSCO shares. Loop Capital started coverage on shares of Cisco Systems in a research report on Monday, February 14th. They set a “buy” rating and a $71.00 price objective on the stock. Barclays upped their target price on shares of Cisco Systems from $61.00 to $68.00 in a report on Thursday, February 17th. Citigroup cut shares of Cisco Systems from a “neutral” rating to a “sell” rating and reduced their target price for the company from $65.00 to $45.00 in a report on Tuesday, April 12th. Morgan Stanley reduced their target price on shares of Cisco Systems from $61.00 to $59.00 and set an “equal weight” rating for the company in a report on Tuesday, April 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Cisco Systems from $70.00 to $69.00 in a report on Thursday, January 20th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.44.

Shares of NASDAQ CSCO opened at $48.36 on Thursday. The firm’s 50 day moving average price is $52.63 and its 200-day moving average price is $55.84. The company has a market cap of $200.90 billion, a PE ratio of 17.27, a P/E/G ratio of 2.47 and a beta of 0.99. Cisco Systems has a 52-week low of $47.47 and a 52-week high of $64.29. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.34 and a current ratio of 1.42.

Cisco Systems declared that its Board of Directors has authorized a share buyback program on Wednesday, February 16th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

In other Cisco Systems news, SVP Prat Bhatt sold 3,623 shares of the stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $56.40, for a total transaction of $204,337.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Charles Robbins sold 15,382 shares of the stock in a transaction on Thursday, February 24th. The shares were sold at an average price of $53.86, for a total transaction of $828,474.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,605 shares of company stock valued at $1,121,147. 0.02% of the stock is owned by company insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Wharton Business Group LLC lifted its holdings in shares of Cisco Systems by 0.8% in the 1st quarter. Wharton Business Group LLC now owns 147,668 shares of the network equipment provider’s stock worth $8,234,000 after acquiring an additional 1,220 shares during the last quarter. Sawgrass Asset Management LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth about $13,472,000. Connors Investor Services Inc. lifted its holdings in shares of Cisco Systems by 5.9% in the 1st quarter. Connors Investor Services Inc. now owns 271,905 shares of the network equipment provider’s stock worth $15,161,000 after acquiring an additional 15,102 shares during the last quarter. O Brien Greene & Co. Inc lifted its holdings in shares of Cisco Systems by 2.1% in the 1st quarter. O Brien Greene & Co. Inc now owns 142,065 shares of the network equipment provider’s stock worth $7,922,000 after acquiring an additional 2,944 shares during the last quarter. Finally, Range Financial Group LLC bought a new stake in shares of Cisco Systems in the 1st quarter worth about $931,000. Hedge funds and other institutional investors own 73.18% of the company’s stock.

Cisco Systems Company Profile (Get Rating)

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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.

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