Cisco Systems (CSCO) Updates Q3 2019 Earnings Guidance

Cisco Systems (NASDAQ:CSCO) issued an update on its third quarter 2019 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.76-0.78 for the period. The company issued revenue guidance of $12.962-13.21078 billion.

Shares of Cisco Systems stock traded down $0.39 during midday trading on Wednesday, reaching $47.50. The company had a trading volume of 28,190,652 shares, compared to its average volume of 20,669,070. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.11 and a quick ratio of 2.05. The firm has a market cap of $229.22 billion, a P/E ratio of 20.30, a P/E/G ratio of 2.76 and a beta of 1.16. Cisco Systems has a 1-year low of $40.19 and a 1-year high of $49.47.

Get Cisco Systems alerts:

Cisco Systems (NASDAQ:CSCO) last released its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.03. Cisco Systems had a net margin of 2.52% and a return on equity of 25.58%. The firm had revenue of $13.07 billion during the quarter, compared to analyst estimates of $12.86 billion. During the same quarter in the previous year, the business earned $0.61 EPS. The business’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, sell-side analysts expect that Cisco Systems will post 2.7 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 24th. Shareholders of record on Friday, April 5th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.95%. This is a positive change from Cisco Systems’s previous quarterly dividend of $0.33. Cisco Systems’s payout ratio is currently 56.41%.

CSCO has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of Cisco Systems from a buy rating to a hold rating in a report on Friday, October 26th. Deutsche Bank lifted their target price on shares of Cisco Systems from $55.00 to $60.00 and gave the stock a buy rating in a report on Thursday, November 15th. Credit Suisse Group lifted their target price on shares of Cisco Systems from $43.00 to $44.00 and gave the stock a hold rating in a report on Thursday, November 15th. JPMorgan Chase & Co. reaffirmed a buy rating on shares of Cisco Systems in a report on Thursday, November 15th. Finally, Loop Capital raised shares of Cisco Systems from a hold rating to a positive rating and set a $45.00 target price for the company in a report on Thursday, November 15th. They noted that the move was a valuation call. Nine analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. Cisco Systems has an average rating of Buy and an average price target of $51.17.

In related news, CFO Kelly A. Kramer sold 70,000 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were sold at an average price of $47.44, for a total value of $3,320,800.00. Following the sale, the chief financial officer now directly owns 492,301 shares of the company’s stock, valued at approximately $23,354,759.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark D. Chandler sold 4,373 shares of the business’s stock in a transaction on Friday, November 23rd. The shares were sold at an average price of $44.89, for a total transaction of $196,303.97. The disclosure for this sale can be found here. Over the last three months, insiders have sold 166,067 shares of company stock worth $7,804,662. Insiders own 0.03% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Essex Investment Management Co. LLC bought a new stake in Cisco Systems in the 4th quarter valued at $29,000. Portfolio Solutions LLC bought a new stake in Cisco Systems in the 4th quarter valued at $48,000. Prime Capital Investment Advisors LLC bought a new stake in Cisco Systems in the 4th quarter valued at $81,000. Karp Capital Management Corp bought a new stake in Cisco Systems in the 4th quarter valued at $107,000. Finally, Lafayette Investments Inc. lifted its position in Cisco Systems by 12.3% in the 4th quarter. Lafayette Investments Inc. now owns 4,749 shares of the network equipment provider’s stock valued at $206,000 after acquiring an additional 520 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Cisco Systems (CSCO) Updates Q3 2019 Earnings Guidance” was first published by Ticker Report and is owned by of Ticker Report. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.tickerreport.com/banking-finance/4149492/cisco-systems-csco-updates-q3-2019-earnings-guidance.html.

Cisco Systems Company Profile

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.

See Also: Bond