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

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

Cisco Systems Stock Performance

Shares of NASDAQ:CSCO traded down $0.28 during trading on Friday, hitting $47.76. The stock had a trading volume of 32,573,435 shares, compared to its average volume of 18,415,418. The stock has a 50-day simple moving average of $53.56 and a two-hundred day simple moving average of $52.23. The stock 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 has a 12-month low of $45.56 and a 12-month high of $58.19. The company has a quick ratio of 1.27, a current ratio of 1.38 and a debt-to-equity ratio of 0.15.

Cisco Systems Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Bank of America raised their price target on Cisco Systems from $56.00 to $60.00 and gave the company a “neutral” rating in a report on Wednesday, September 13th. Oppenheimer lowered their target price on shares of Cisco Systems from $58.00 to $54.00 and set an “outperform” rating on the stock in a report on Thursday. Evercore ISI boosted their price target on shares of Cisco Systems from $60.00 to $63.00 and gave the stock an “outperform” rating in a research note on Thursday, August 17th. UBS Group cut their price objective on Cisco Systems from $55.00 to $54.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, BNP Paribas assumed coverage on Cisco Systems in a research report on Thursday, July 20th. They issued an “underperform” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.38.

Insider Buying and Selling

In other news, EVP Deborah L. Stahlkopf sold 3,022 shares of the company’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $56.22, for a total value of $169,896.84. Following the sale, the executive vice president now owns 169,396 shares in the company, valued at $9,523,443.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cisco Systems

Institutional investors have recently modified their holdings of the business. Vestor Capital LLC increased its position in shares of Cisco Systems by 387.5% during the second quarter. Vestor Capital LLC now owns 14,882 shares of the network equipment provider’s stock worth $770,000 after purchasing an additional 11,829 shares in the last quarter. CreativeOne Wealth LLC increased its stake in shares of Cisco Systems by 7.1% in the 2nd quarter. CreativeOne Wealth LLC now owns 61,928 shares of the network equipment provider’s stock worth $3,204,000 after acquiring an additional 4,095 shares during the last quarter. GTS Securities LLC acquired a new position in shares of Cisco Systems during the 2nd quarter valued at about $231,000. Equitable Holdings Inc. increased its holdings in Cisco Systems by 13.3% in the 2nd quarter. Equitable Holdings Inc. now owns 63,583 shares of the network equipment provider’s stock valued at $3,290,000 after purchasing an additional 7,481 shares during the last quarter. Finally, West Michigan Advisors LLC boosted its position in shares of Cisco Systems by 22.0% during the second quarter. West Michigan Advisors LLC now owns 43,490 shares of the network equipment provider’s stock worth $2,250,000 after buying an additional 7,832 shares during the period. 72.21% of the stock is currently owned by institutional investors and hedge funds.

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 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.