Cisco Systems (NASDAQ:CSCO) Issues Q4 Earnings Guidance

Cisco Systems (NASDAQ:CSCOGet Rating) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.76-0.84 for the period, compared to the consensus EPS estimate of $0.92. The company issued revenue guidance of $12.40-13.00 billion, compared to the consensus revenue estimate of $13.87 billion.Cisco Systems also updated its FY 2022 guidance to $3.29-$3.37 EPS.

Shares of NASDAQ:CSCO traded down $6.98 during midday trading on Thursday, hitting $41.38. The stock had a trading volume of 4,341,004 shares, compared to its average volume of 21,197,396. Cisco Systems has a 12 month low of $47.47 and a 12 month high of $64.29. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 0.23. The business’s 50-day simple moving average is $52.63 and its 200-day simple moving average is $55.84. The company has a market cap of $171.90 billion, a P/E ratio of 14.76, a PEG ratio of 2.43 and a beta of 0.99.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings results on Wednesday, May 18th. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.01. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. During the same quarter in the prior year, the business posted $0.75 earnings per share. As a group, equities analysts predict that Cisco Systems will post 3.1 earnings per share for the current year.

Cisco Systems declared that its Board of Directors has approved a stock buyback program on Wednesday, February 16th that allows the company to buyback $15.00 billion in shares. This buyback authorization allows the network equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Several research analysts have recently issued reports on the company. Oppenheimer lowered their price objective on Cisco Systems from $60.00 to $50.00 and set an outperform rating for the company in a research note on Thursday. Piper Sandler cut their price target on Cisco Systems from $57.00 to $43.00 and set a neutral rating on the stock in a report on Thursday. Cowen increased their price target on Cisco Systems from $61.00 to $66.00 in a report on Thursday, February 17th. Morgan Stanley cut their target price on Cisco Systems from $59.00 to $46.00 and set an equal weight rating on the stock in a report on Thursday. Finally, StockNews.com started coverage on Cisco Systems in a research note on Thursday, March 31st. They set a buy rating on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $55.91.

In other Cisco Systems news, SVP Prat Bhatt sold 3,623 shares of Cisco Systems 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 available through this hyperlink. Also, CEO Charles Robbins sold 15,382 shares of Cisco Systems stock in a transaction on Thursday, February 24th. The stock was 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. Over the last three months, insiders sold 20,605 shares of company stock valued at $1,121,147. 0.02% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ulland Investment Advisors LLC purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $29,000. Monolith Advisors purchased a new stake in shares of Cisco Systems during the fourth quarter valued at $54,000. Tobam boosted its stake in shares of Cisco Systems by 28.0% during the fourth quarter. Tobam now owns 2,974 shares of the network equipment provider’s stock valued at $188,000 after purchasing an additional 650 shares during the period. Charles Schwab Investment Advisory Inc. boosted its stake in shares of Cisco Systems by 18.0% during the first quarter. Charles Schwab Investment Advisory Inc. now owns 4,105 shares of the network equipment provider’s stock valued at $229,000 after purchasing an additional 626 shares during the period. Finally, Fairview Capital Investment Management LLC raised its holdings in shares of Cisco Systems by 32.6% in the first quarter. Fairview Capital Investment Management LLC now owns 5,316 shares of the network equipment provider’s stock valued at $296,000 after acquiring an additional 1,306 shares in the last quarter. 73.18% of the stock is owned by institutional investors.

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.

See Also

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

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