KeyCorp Research Analysts Lift Earnings Estimates for Cisco Systems, Inc. (NASDAQ:CSCO)

Cisco Systems, Inc. (NASDAQ:CSCOGet Rating) – Research analysts at KeyCorp lifted their Q3 2024 EPS estimates for shares of Cisco Systems in a note issued to investors on Wednesday, November 16th. KeyCorp analyst T. Blakey now anticipates that the network equipment provider will earn $0.88 per share for the quarter, up from their previous forecast of $0.85. The consensus estimate for Cisco Systems’ current full-year earnings is $3.17 per share. KeyCorp also issued estimates for Cisco Systems’ Q4 2024 earnings at $0.92 EPS.

Several other research firms have also recently commented on CSCO. Barclays cut shares of Cisco Systems from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $56.00 to $46.00 in a research report on Wednesday, September 21st. The Goldman Sachs Group raised their target price on shares of Cisco Systems from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Morgan Stanley raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 18th. UBS Group raised their target price on shares of Cisco Systems from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Finally, Oppenheimer reissued an “outperform” rating and set a $50.00 price target on shares of Cisco Systems in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Cisco Systems presently has an average rating of “Moderate Buy” and a consensus target price of $53.63.

Cisco Systems Trading Up 2.6 %

NASDAQ:CSCO opened at $47.79 on Monday. The company has a 50-day moving average price of $42.95 and a 200-day moving average price of $44.34. Cisco Systems has a 12 month low of $38.60 and a 12 month high of $64.29. The company has a current ratio of 1.45, a quick ratio of 1.33 and a debt-to-equity ratio of 0.19. The stock has a market cap of $196.36 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 2.37 and a beta of 1.00.

Cisco Systems (NASDAQ:CSCOGet Rating) last announced its quarterly earnings results on Wednesday, November 16th. The network equipment provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $13.63 billion during the quarter, compared to analysts’ expectations of $13.29 billion. Cisco Systems had a net margin of 22.00% and a return on equity of 31.68%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS.

Cisco Systems Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 26th. Investors of record on Wednesday, October 5th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend was Tuesday, October 4th. Cisco Systems’s payout ratio is 54.87%.

Insider Buying and Selling

In related news, SVP Prat Bhatt sold 19,168 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the transaction, the senior vice president now owns 38,158 shares of the company’s stock, valued at $1,689,636.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Cisco Systems news, SVP Prat Bhatt sold 19,168 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $44.28, for a total value of $848,759.04. Following the completion of the transaction, the senior vice president now directly owns 38,158 shares in the company, valued at $1,689,636.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Maria Martinez sold 4,674 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $46.40, for a total transaction of $216,873.60. Following the completion of the transaction, the chief operating officer now owns 273,307 shares of the company’s stock, valued at $12,681,444.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,195 shares of company stock valued at $1,693,532. 0.02% of the stock is owned by insiders.

Hedge Funds Weigh In On Cisco Systems

Hedge funds have recently modified their holdings of the company. Cordant Inc. bought a new position in shares of Cisco Systems during the first quarter worth $28,000. Advanced Research Investment Solutions LLC raised its stake in Cisco Systems by 564.6% during the first quarter. Advanced Research Investment Solutions LLC now owns 545 shares of the network equipment provider’s stock valued at $30,000 after purchasing an additional 463 shares in the last quarter. Syverson Strege & Co raised its stake in Cisco Systems by 68.9% during the second quarter. Syverson Strege & Co now owns 591 shares of the network equipment provider’s stock valued at $25,000 after purchasing an additional 241 shares in the last quarter. Iron Horse Wealth Management LLC raised its stake in Cisco Systems by 328.1% during the second quarter. Iron Horse Wealth Management LLC now owns 655 shares of the network equipment provider’s stock valued at $28,000 after purchasing an additional 502 shares in the last quarter. Finally, Johnson Midwest Financial LLC raised its stake in Cisco Systems by 189.7% during the second quarter. Johnson Midwest Financial LLC now owns 678 shares of the network equipment provider’s stock valued at $29,000 after purchasing an additional 444 shares in the last quarter. 71.71% of the stock is currently owned by institutional investors.

About Cisco Systems

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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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points that are standalone, controller appliance-based, switch-converged, and Meraki cloud-managed offerings; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.

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

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