Cisco Systems (NASDAQ:CSCO) Updates Q4 2024 Earnings Guidance

Cisco Systems (NASDAQ:CSCO) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.840-0.860 for the period, compared to the consensus earnings per share estimate of 0.850. The company issued revenue guidance of $13.4 billion-$13.6 billion, compared to the consensus revenue estimate of $13.2 billion. Cisco Systems also updated its FY 2024 guidance to 3.690-3.710 EPS.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. BNP Paribas upgraded Cisco Systems from an underperform rating to a neutral rating and set a $50.00 target price on the stock in a research note on Monday, May 13th. JPMorgan Chase & Co. assumed coverage on Cisco Systems in a research note on Monday, April 22nd. They issued a neutral rating and a $53.00 price target on the stock. UBS Group lifted their price target on Cisco Systems from $54.00 to $55.00 and gave the company a neutral rating in a research note on Monday, February 12th. StockNews.com upgraded Cisco Systems from a hold rating to a buy rating in a research note on Monday, May 13th. Finally, Needham & Company LLC restated a hold rating on shares of Cisco Systems in a research note on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $56.47.

Cisco Systems Stock Performance

NASDAQ CSCO opened at $48.17 on Friday. Cisco Systems has a fifty-two week low of $45.70 and a fifty-two week high of $58.19. The stock has a market cap of $195.05 billion, a price-to-earnings ratio of 16.22, a price-to-earnings-growth ratio of 2.78 and a beta of 0.87. The business has a fifty day moving average of $48.69 and a 200-day moving average of $49.51. The company has a quick ratio of 1.26, a current ratio of 0.89 and a debt-to-equity ratio of 0.44.

Cisco Systems (NASDAQ:CSCO) last released its quarterly earnings results on Wednesday, May 15th. The network equipment provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.18. Cisco Systems had a return on equity of 30.82% and a net margin of 21.88%. The company had revenue of $12.70 billion during the quarter, compared to analysts’ expectations of $12.53 billion. During the same period in the previous year, the firm posted $0.88 earnings per share. The business’s revenue for the quarter was down 12.8% compared to the same quarter last year. As a group, analysts predict that Cisco Systems will post 3.13 earnings per share for the current fiscal year.

Cisco Systems Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 24th. Stockholders of record on Friday, July 5th will be issued a $0.40 dividend. The ex-dividend date is Friday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.32%. Cisco Systems’s dividend payout ratio (DPR) is 53.87%.

Insider Transactions at Cisco Systems

In other news, SVP Maria Victoria Wong sold 2,497 shares of Cisco Systems stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total value of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cisco Systems news, SVP Maria Victoria Wong sold 2,497 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $50.00, for a total transaction of $124,850.00. Following the completion of the sale, the senior vice president now owns 58,121 shares of the company’s stock, valued at $2,906,050. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Richard Scott Herren sold 13,942 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $50.00, for a total value of $697,100.00. Following the sale, the chief financial officer now directly owns 328,491 shares of the company’s stock, valued at approximately $16,424,550. The disclosure for this sale can be found here. Insiders sold a total of 19,441 shares of company stock valued at $972,080 over the last three months. 0.02% 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 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 and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.