Robert W. Baird reiterated their buy rating on shares of Cisco Systems (NASDAQ:CSCO) in a research note published on Wednesday, AnalystRatings.com reports. Robert W. Baird currently has a $57.00 price target on the network equipment provider’s stock.
“We appreciate Cisco’s desire to reinforce its position as the leader in enterprise networking as customers demand higher throughput solutions.”,” Robert W. Baird’s analyst commented.
Several other research analysts have also commented on the company. Bank of America set a $62.00 price target on Cisco Systems and gave the stock a buy rating in a report on Thursday, May 16th. Jefferies Financial Group lifted their price target on Nice to $166.00 and gave the stock a buy rating in a report on Thursday, May 16th. Piper Jaffray Companies lifted their price target on Cisco Systems from $52.00 to $58.00 and gave the stock an overweight rating in a report on Thursday, May 16th. UBS Group set a $13.00 price target on Freeport-McMoRan and gave the stock a hold rating in a report on Wednesday, June 26th. Finally, Tigress Financial reiterated a buy rating on shares of Cisco Systems in a report on Thursday, June 27th. Seven analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $56.30.
Shares of CSCO stock opened at $57.95 on Wednesday. The company has a fifty day moving average price of $55.42. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 0.43. The stock has a market cap of $248.07 billion, a price-to-earnings ratio of 24.76, a P/E/G ratio of 2.93 and a beta of 1.17. Cisco Systems has a fifty-two week low of $40.25 and a fifty-two week high of $58.15.
Cisco Systems (NASDAQ:CSCO) last announced its quarterly earnings data on Wednesday, May 15th. The network equipment provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.01. The company had revenue of $12.96 billion for the quarter, compared to analyst estimates of $12.89 billion. Cisco Systems had a return on equity of 29.88% and a net margin of 25.76%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.66 EPS. As a group, equities research analysts predict that Cisco Systems will post 2.8 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 24th. Investors of record on Friday, July 5th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Wednesday, July 3rd. Cisco Systems’s payout ratio is 59.83%.
In related news, EVP Mark D. Chandler sold 1,379 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The stock was sold at an average price of $55.94, for a total transaction of $77,141.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Wesley G. Bush acquired 10,000 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The shares were acquired at an average cost of $55.74 per share, with a total value of $557,400.00. Following the completion of the transaction, the director now directly owns 3,017 shares in the company, valued at approximately $168,167.58. The disclosure for this purchase can be found here. Insiders have sold a total of 95,129 shares of company stock valued at $5,159,754 over the last three months. Corporate insiders own 0.03% of the company’s stock.
Several large investors have recently modified their holdings of CSCO. Baystate Wealth Management LLC grew its position in Cisco Systems by 2.0% in the 2nd quarter. Baystate Wealth Management LLC now owns 10,228 shares of the network equipment provider’s stock valued at $600,000 after acquiring an additional 202 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Cisco Systems by 6.1% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,609 shares of the network equipment provider’s stock worth $156,000 after buying an additional 207 shares in the last quarter. Bigelow Investment Advisors LLC grew its position in shares of Cisco Systems by 0.5% during the fourth quarter. Bigelow Investment Advisors LLC now owns 44,515 shares of the network equipment provider’s stock worth $1,929,000 after buying an additional 235 shares in the last quarter. Winfield Associates Inc. grew its position in shares of Cisco Systems by 3.0% during the second quarter. Winfield Associates Inc. now owns 8,250 shares of the network equipment provider’s stock worth $452,000 after buying an additional 239 shares in the last quarter. Finally, Waldron Private Wealth LLC grew its position in shares of Cisco Systems by 1.5% during the third quarter. Waldron Private Wealth LLC now owns 16,212 shares of the network equipment provider’s stock worth $788,000 after buying an additional 242 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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