Cisco Systems (NASDAQ:CSCO) updated its fourth quarter 2021 earnings guidance on Wednesday. The company provided earnings per share guidance of 0.810-0.830 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.850. The company issued revenue guidance of $12.88 billion-$13.13 billion, compared to the consensus revenue estimate of $12.82 billion.Cisco Systems also updated its Q4 guidance to $0.81-0.83 EPS.
Several brokerages have recently commented on CSCO. Citigroup boosted their price objective on Cisco Systems from $45.00 to $50.00 in a report on Wednesday, February 10th. JPMorgan Chase & Co. raised Cisco Systems from a neutral rating to an overweight rating and set a $55.00 price objective for the company in a report on Thursday, March 11th. Morgan Stanley boosted their target price on Cisco Systems from $54.00 to $57.00 and gave the stock an overweight rating in a research report on Thursday, April 22nd. Wolfe Research upgraded Cisco Systems from a peer perform rating to an outperform rating and set a $63.00 target price for the company in a research report on Thursday, April 22nd. Finally, Oppenheimer restated a buy rating and issued a $50.00 target price on shares of Cisco Systems in a research report on Tuesday, February 9th. Eleven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $51.85.
CSCO stock traded down $0.42 during midday trading on Friday, hitting $52.43. The company had a trading volume of 24,468,371 shares, compared to its average volume of 20,004,586. The company has a current ratio of 1.53, a quick ratio of 1.56 and a debt-to-equity ratio of 0.24. Cisco Systems has a 52 week low of $35.28 and a 52 week high of $54.14. The stock’s 50 day moving average price is $52.10 and its 200 day moving average price is $46.89. The stock has a market cap of $221.35 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.92 and a beta of 0.92.
Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Tuesday, May 18th. The network equipment provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.01. Cisco Systems had a return on equity of 31.12% and a net margin of 20.92%. The firm had revenue of $12.80 billion for the quarter, compared to analysts’ expectations of $12.57 billion. During the same period in the previous year, the firm earned $0.79 earnings per share. The business’s revenue was up 6.8% compared to the same quarter last year. Analysts predict that Cisco Systems will post 2.89 earnings per share for the current year.
In other news, Director M Michele Burns sold 13,982 shares of the business’s stock in a transaction that occurred on Friday, March 26th. The stock was sold at an average price of $51.55, for a total transaction of $720,772.10. Following the transaction, the director now directly owns 70,468 shares of the company’s stock, valued at $3,632,625.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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. It provides infrastructure platforms, including networking technologies of switching, routing, wireless, and data center products that are designed to work together to deliver networking capabilities, and transport and/or store data.
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