Cisco Systems (NASDAQ:CSCO) Releases Earnings Results, Beats Expectations By $0.20 EPS

Cisco Systems (NASDAQ:CSCO) released its earnings results on Wednesday. The network equipment provider reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.20, Briefing.com reports. The firm had revenue of $14.67 billion during the quarter, compared to the consensus estimate of $14.63 billion. Cisco Systems had a return on equity of 34.92% and a net margin of 23.40%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.77 EPS.

Cisco Systems Trading Down 0.6 %

Shares of Cisco Systems stock traded down $0.28 on Friday, hitting $47.76. 32,596,906 shares of the company’s stock traded hands, compared to its average volume of 18,420,014. Cisco Systems has a one year low of $45.56 and a one year high of $58.19. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.38 and a quick ratio of 1.27. The company has a fifty day moving average of $53.56 and a two-hundred day moving average of $52.23. The company has a market capitalization of $193.66 billion, a price-to-earnings ratio of 14.51, a price-to-earnings-growth ratio of 2.37 and a beta of 0.98.

Cisco Systems Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 24th. Investors of record on Thursday, January 4th will be given a dividend of $0.39 per share. The ex-dividend date is Wednesday, January 3rd. This represents a $1.56 annualized dividend and a dividend yield of 3.27%. Cisco Systems’s payout ratio is 47.13%.

Insider Activity at Cisco Systems

In other Cisco Systems news, EVP Deborah L. Stahlkopf sold 3,022 shares of the stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the transaction, the executive vice president now owns 169,396 shares in the company, valued at $9,523,443.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.02% of the stock is owned by corporate insiders.

Institutional Trading of Cisco Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. United Bank purchased a new stake in shares of Cisco Systems during the first quarter valued at approximately $645,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Cisco Systems by 32.5% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,243,073 shares of the network equipment provider’s stock valued at $236,593,000 after acquiring an additional 1,040,607 shares during the last quarter. Roundview Capital LLC increased its position in shares of Cisco Systems by 13.1% during the first quarter. Roundview Capital LLC now owns 10,540 shares of the network equipment provider’s stock valued at $588,000 after acquiring an additional 1,221 shares during the last quarter. Merit Financial Group LLC increased its position in shares of Cisco Systems by 21.5% during the first quarter. Merit Financial Group LLC now owns 11,763 shares of the network equipment provider’s stock valued at $656,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of Cisco Systems by 8.1% during the first quarter. Mackenzie Financial Corp now owns 2,429,518 shares of the network equipment provider’s stock valued at $135,470,000 after acquiring an additional 182,857 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CSCO. DZ Bank cut Cisco Systems from a “buy” rating to a “hold” rating and set a $50.00 price target for the company. in a report on Friday. Deutsche Bank Aktiengesellschaft boosted their price target on Cisco Systems from $54.00 to $58.00 and gave the stock a “hold” rating in a report on Monday, August 21st. Raymond James cut Cisco Systems from a “market perform” rating to an “underperform” rating in a report on Monday, October 30th. Piper Sandler lowered their price target on Cisco Systems from $57.00 to $50.00 and set a “neutral” rating for the company in a report on Thursday. Finally, Morgan Stanley boosted their price target on Cisco Systems from $55.00 to $56.00 and gave the stock an “equal weight” rating in a report on Thursday, August 17th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $58.38.

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. The company also offers switching portfolio encompasses campus switching as well as data center switching; enterprise routing portfolio interconnects public and private wireline and mobile networks, delivering highly secure, and reliable connectivity to campus, data center and branch networks; wireless products include wireless access points and controllers; and compute portfolio including the cisco unified computing system, hyperflex, and software management capabilities, which combine computing, networking, and storage infrastructure management and virtualization.