Cisco Systems, Inc. (NASDAQ:CSCO) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, July 18th.
According to Zacks, “Cisco Systems is the leading provider of IP-based networking and other products. Nevertheless, intensifying competition from several smaller players, slowing order growth from service providers and challenges in the emerging markets are the primary headwinds. We note, the company has underperformed the S&P 500 index on a year-to-date basis. Revenues are expected to decline due to lower order growth in the reported quarter, which affected backlog. Nonetheless, we believe Cisco’s expanding footprint in the rapidly growing security and data center market are promising. Estimates have been stable ahead of the company's Q4 earnings release. The company has positive record of earnings surprises in the recent quarters. Moreover, partnerships with the likes of Pure Storage, salesforce.com and IBM will help Cisco to gain signficant traction in the data center, cloud and Internet of Things (IoT) market in the long haul.”
A number of other analysts have also recently commented on the company. Morgan Stanley upgraded Cisco Systems from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $33.45 to $39.00 in a research report on Monday, May 15th. Credit Suisse Group upgraded Cisco Systems from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $27.00 to $40.00 in a research report on Thursday, April 27th. Deutsche Bank AG upped their price objective on Cisco Systems from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 23rd. Barclays PLC reiterated an “overweight” rating on shares of Cisco Systems in a research report on Saturday, April 22nd. Finally, Vetr upgraded Cisco Systems from a “buy” rating to a “strong-buy” rating and set a $37.32 price objective for the company in a research report on Tuesday, April 11th. Thirteen research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $35.31.
Shares of Cisco Systems (NASDAQ CSCO) traded down 0.143% during midday trading on Tuesday, hitting $31.475. The stock had a trading volume of 11,728,925 shares. The stock has a market cap of $157.38 billion, a PE ratio of 15.977 and a beta of 1.24. The stock’s 50-day moving average is $31.57 and its 200-day moving average is $32.44. Cisco Systems has a 12 month low of $29.12 and a 12 month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings results on Wednesday, May 17th. The network equipment provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $11.94 billion for the quarter, compared to the consensus estimate of $11.90 billion. Cisco Systems had a return on equity of 17.31% and a net margin of 20.61%. The company’s quarterly revenue was down .5% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Equities analysts anticipate that Cisco Systems will post $2.38 EPS for the current year.
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In other Cisco Systems news, insider John T. Chambers sold 295,537 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total transaction of $9,315,326.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Karen Walker sold 7,802 shares of Cisco Systems stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $31.29, for a total value of $244,124.58. Following the completion of the transaction, the senior vice president now owns 178,577 shares in the company, valued at $5,587,674.33. The disclosure for this sale can be found here. Insiders have sold a total of 396,179 shares of company stock worth $12,503,407 over the last 90 days. 0.11% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Chicago Partners Investment Group LLC increased its position in shares of Cisco Systems by 40,563.1% in the second quarter. Chicago Partners Investment Group LLC now owns 41,883 shares of the network equipment provider’s stock worth $1,293,000 after buying an additional 41,780 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Cisco Systems by 4.8% in the second quarter. Retirement Systems of Alabama now owns 4,114,302 shares of the network equipment provider’s stock worth $128,778,000 after buying an additional 188,591 shares in the last quarter. IFP Advisors Inc increased its position in shares of Cisco Systems by 9.7% in the second quarter. IFP Advisors Inc now owns 242,596 shares of the network equipment provider’s stock worth $7,593,000 after buying an additional 21,516 shares in the last quarter. Callahan Advisors LLC increased its position in shares of Cisco Systems by 0.3% in the second quarter. Callahan Advisors LLC now owns 256,794 shares of the network equipment provider’s stock worth $8,038,000 after buying an additional 651 shares in the last quarter. Finally, NewFocus Financial Group LLC increased its position in shares of Cisco Systems by 0.8% in the second quarter. NewFocus Financial Group LLC now owns 159,318 shares of the network equipment provider’s stock worth $4,987,000 after buying an additional 1,273 shares in the last quarter. Institutional investors and hedge funds own 75.37% of the company’s stock.
Cisco Systems Company Profile
Cisco Systems, Inc designs and sells a range of products, provides services and delivers integrated solutions to develop and connect networks around the world. The Company operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific, Japan and China (APJC).
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