Cisco Systems, Inc. (NASDAQ:CSCO)‘s stock had its “outperform” rating restated by investment analysts at Oppenheimer Holdings, Inc. in a research report issued to clients and investors on Sunday. They currently have a $36.00 price target on the network equipment provider’s stock. Oppenheimer Holdings, Inc.’s price objective suggests a potential upside of 17.34% from the stock’s current price. Oppenheimer Holdings also issued estimates for Cisco Systems’ Q3 2018 earnings at $0.54 EPS.
Several other equities research analysts have also recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating and set a $38.00 target price on shares of Cisco Systems in a research note on Sunday. Bank of America Corporation restated a “neutral” rating and set a $35.00 target price on shares of Cisco Systems in a research note on Friday. William Blair restated an “outperform” rating on shares of Cisco Systems in a research note on Saturday. JMP Securities restated a “market perform” rating on shares of Cisco Systems in a research note on Friday. Finally, Berenberg Bank set a $33.00 target price on Cisco Systems and gave the stock a “hold” rating in a research note on Thursday, August 17th. Fourteen equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $35.47.
Cisco Systems (NASDAQ:CSCO) opened at 30.68 on Friday. The stock has a 50 day moving average of $31.46 and a 200-day moving average of $32.58. The company has a market capitalization of $153.19 billion, a PE ratio of 16.15 and a beta of 1.24. Cisco Systems has a 12-month low of $29.12 and a 12-month high of $34.60.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, August 16th. The network equipment provider reported $0.61 earnings per share for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $12.13 billion during the quarter, compared to analysts’ expectations of $12.07 billion. Cisco Systems had a return on equity of 16.91% and a net margin of 20.02%. The firm’s revenue was down 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.63 earnings per share. Equities analysts expect that Cisco Systems will post $2.43 earnings per share for the current year.
In other news, insider John T. Chambers sold 295,537 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.52, for a total value of $9,315,326.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Karen Walker sold 7,802 shares of the company’s 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 sale, 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 sold 396,179 shares of company stock worth $12,503,407 over the last 90 days. Company insiders own 0.11% of the company’s stock.
Several hedge funds have recently modified their holdings of CSCO. Vantage Financial Partners Ltd. Inc. bought a new stake in shares of Cisco Systems during the second quarter valued at about $231,000. Barnett & Company Inc. increased its position in Cisco Systems by 1,511.5% in the second quarter. Barnett & Company Inc. now owns 3,223 shares of the network equipment provider’s stock valued at $101,000 after buying an additional 3,023 shares during the period. Tortoise Investment Management LLC increased its position in Cisco Systems by 36.1% in the second quarter. Tortoise Investment Management LLC now owns 3,309 shares of the network equipment provider’s stock valued at $104,000 after buying an additional 878 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in Cisco Systems during the second quarter valued at $104,000. Finally, Manchester Capital Management LLC increased its position in Cisco Systems by 10.7% in the second quarter. Manchester Capital Management LLC now owns 3,606 shares of the network equipment provider’s stock valued at $113,000 after buying an additional 350 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.
About Cisco Systems
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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