Cisco Systems (NASDAQ:CSCO) Posts Earnings Results, Beats Expectations By $0.01 EPS

Cisco Systems (NASDAQ:CSCOGet Rating) released its quarterly earnings data on Wednesday. The network equipment provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.86 by $0.01, MarketWatch Earnings reports. Cisco Systems had a return on equity of 30.95% and a net margin of 22.94%. During the same quarter last year, the business posted $0.75 EPS.

CSCO stock traded down $6.54 on Thursday, reaching $41.82. 2,918,346 shares of the company traded hands, compared to its average volume of 21,197,396. Cisco Systems has a one year low of $47.47 and a one year high of $64.29. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.42 and a quick ratio of 1.34. The company has a market cap of $173.73 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 2.43 and a beta of 0.99. The firm has a fifty day simple moving average of $52.63 and a 200-day simple moving average of $55.84.

CSCO has been the topic of a number of analyst reports. Morgan Stanley decreased their price objective on Cisco Systems from $59.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Thursday. Raymond James reduced their target price on Cisco Systems from $64.00 to $63.00 and set an “outperform” rating for the company in a research report on Thursday, February 17th. Zacks Investment Research upgraded Cisco Systems from a “hold” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Monday, January 24th. Loop Capital started coverage on Cisco Systems in a report on Monday, February 14th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, The Goldman Sachs Group cut Cisco Systems from a “buy” rating to a “neutral” rating and set a $65.00 price objective for the company. in a report on Wednesday, January 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Cisco Systems currently has a consensus rating of “Buy” and a consensus target price of $55.82.

Cisco Systems declared that its board has authorized a share buyback plan on Wednesday, February 16th that authorizes the company to buyback $15.00 billion in shares. This buyback authorization authorizes the network equipment provider to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other Cisco Systems news, COO Maria Martinez sold 992 shares of the stock in a transaction on Friday, March 11th. The stock was sold at an average price of $55.24, for a total transaction of $54,798.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $204,337.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,605 shares of company stock valued at $1,121,147. 0.02% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Weiss Multi Strategy Advisers LLC purchased a new position in shares of Cisco Systems in the 1st quarter worth $15,263,000. Continuum Advisory LLC boosted its stake in shares of Cisco Systems by 71.1% in the 1st quarter. Continuum Advisory LLC now owns 27,380 shares of the network equipment provider’s stock worth $1,341,000 after buying an additional 11,374 shares during the last quarter. Avalon Investment & Advisory boosted its stake in shares of Cisco Systems by 2.3% in the 1st quarter. Avalon Investment & Advisory now owns 1,019,373 shares of the network equipment provider’s stock worth $56,840,000 after buying an additional 22,973 shares during the last quarter. Cim Investment Management Inc. purchased a new position in shares of Cisco Systems in the 1st quarter worth $877,000. Finally, Global Wealth Management Investment Advisory Inc. raised its holdings in Cisco Systems by 8.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 52,061 shares of the network equipment provider’s stock worth $2,903,000 after purchasing an additional 4,076 shares during the period. 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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Earnings History for Cisco Systems (NASDAQ:CSCO)

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