Citrix Systems, Inc. (CTXS) Expected to Post Quarterly Sales of $708.26 Million

Equities research analysts expect that Citrix Systems, Inc. (NASDAQ:CTXS) will report sales of $708.26 million for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Citrix Systems’ earnings. The highest sales estimate is $710.20 million and the lowest is $705.00 million. Citrix Systems reported sales of $697.19 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.6%. The firm is scheduled to issue its next earnings report on Wednesday, April 24th.

On average, analysts expect that Citrix Systems will report full year sales of $3.08 billion for the current fiscal year, with estimates ranging from $3.06 billion to $3.10 billion. For the next fiscal year, analysts anticipate that the business will report sales of $3.23 billion, with estimates ranging from $3.18 billion to $3.31 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last released its quarterly earnings data on Wednesday, January 23rd. The cloud computing company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.08. Citrix Systems had a return on equity of 101.74% and a net margin of 19.36%. The company had revenue of $802.00 million for the quarter, compared to the consensus estimate of $791.27 million. During the same period in the previous year, the business earned $1.66 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.



A number of research analysts have recently issued reports on CTXS shares. BidaskClub cut shares of Citrix Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. TheStreet upgraded shares of Citrix Systems from a “c+” rating to a “b” rating in a research note on Wednesday, January 23rd. Wedbush cut their target price on shares of Citrix Systems from $115.00 to $110.00 and set a “neutral” rating for the company in a research note on Thursday, January 24th. Finally, Zacks Investment Research upgraded shares of Citrix Systems from a “hold” rating to a “buy” rating and set a $122.00 target price for the company in a research note on Wednesday, November 28th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $113.77.

Shares of NASDAQ:CTXS traded up $0.52 during trading on Tuesday, reaching $102.18. The stock had a trading volume of 21,078 shares, compared to its average volume of 2,146,621. Citrix Systems has a 52 week low of $90.32 and a 52 week high of $116.82. The company has a current ratio of 0.72, a quick ratio of 0.71 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $13.42 billion, a P/E ratio of 22.33, a price-to-earnings-growth ratio of 2.66 and a beta of 1.02.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 22nd. Investors of record on Friday, March 8th will be given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.37%. The ex-dividend date of this dividend is Thursday, March 7th. Citrix Systems’s dividend payout ratio (DPR) is presently 30.57%.

In related news, CFO Matto Andrew H. Del sold 582 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $106.78, for a total value of $62,145.96. Following the completion of the transaction, the chief financial officer now owns 60,294 shares in the company, valued at approximately $6,438,193.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert Calderoni sold 2,136 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $101.03, for a total transaction of $215,800.08. Following the completion of the transaction, the insider now owns 109,494 shares of the company’s stock, valued at approximately $11,062,178.82. The disclosure for this sale can be found here. Insiders sold a total of 26,071 shares of company stock valued at $2,711,264 in the last 90 days. 0.56% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CTXS. Norges Bank bought a new stake in shares of Citrix Systems during the 4th quarter valued at $147,447,000. Teacher Retirement System of Texas raised its position in shares of Citrix Systems by 19.6% during the 4th quarter. Teacher Retirement System of Texas now owns 761,264 shares of the cloud computing company’s stock valued at $77,999,000 after acquiring an additional 124,706 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Citrix Systems during the 4th quarter valued at $259,000. Putnam FL Investment Management Co. bought a new stake in shares of Citrix Systems during the 4th quarter valued at $410,000. Finally, CWM Advisors LLC raised its position in shares of Citrix Systems by 13.2% during the 4th quarter. CWM Advisors LLC now owns 4,419 shares of the cloud computing company’s stock valued at $453,000 after acquiring an additional 516 shares during the last quarter. Hedge funds and other institutional investors own 98.96% of the company’s stock.

Citrix Systems Company Profile

Citrix Systems, Inc delivers solutions to secure and access applications worldwide. The company offers workspace services, including XenDesktop, a cloud-enabled desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and XenApp that allows Windows applications to be delivered as cloud services to Android and iOS mobile devices, Macs, PCs, and thin clients.

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