Zacks: Brokerages Expect Citrix Systems, Inc. (NASDAQ:CTXS) Will Post Quarterly Sales of $714.03 Million

Equities analysts predict that Citrix Systems, Inc. (NASDAQ:CTXS) will report sales of $714.03 million for the current quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Citrix Systems’ earnings, with the lowest sales estimate coming in at $710.00 million and the highest estimate coming in at $719.99 million. Citrix Systems posted sales of $732.48 million in the same quarter last year, which suggests a negative year over year growth rate of 2.5%. The firm is expected to report its next earnings results before the market opens on Thursday, October 24th.

According to Zacks, analysts expect that Citrix Systems will report full-year sales of $2.99 billion for the current fiscal year, with estimates ranging from $2.98 billion to $3.01 billion. For the next year, analysts forecast that the business will post sales of $3.11 billion, with estimates ranging from $3.05 billion to $3.19 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Citrix Systems.

Citrix Systems (NASDAQ:CTXS) last released its earnings results on Wednesday, July 24th. The cloud computing company reported $1.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.27. The firm had revenue of $748.70 million for the quarter, compared to the consensus estimate of $772.00 million. Citrix Systems had a return on equity of 95.52% and a net margin of 17.60%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS.



Several brokerages have commented on CTXS. BidaskClub raised Citrix Systems from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Morgan Stanley cut their price objective on Citrix Systems from $102.00 to $95.00 and set an “underweight” rating on the stock in a research report on Thursday, July 25th. Wedbush reaffirmed a “hold” rating and issued a $95.00 price objective on shares of Citrix Systems in a research report on Thursday, July 25th. ValuEngine raised Citrix Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group cut their price objective on Citrix Systems from $85.00 to $80.00 and set an “underperform” rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $106.00.

In other Citrix Systems news, CEO David J. Henshall sold 6,353 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $94.11, for a total value of $597,880.83. Following the completion of the sale, the chief executive officer now directly owns 361,803 shares in the company, valued at approximately $34,049,280.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rotterdam Jeroen Van sold 4,288 shares of the company’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $92.06, for a total value of $394,753.28. Following the completion of the sale, the executive vice president now owns 63,806 shares of the company’s stock, valued at $5,873,980.36. The disclosure for this sale can be found here. Insiders sold a total of 34,473 shares of company stock valued at $3,238,732 over the last quarter. Company insiders own 0.54% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Covington Capital Management lifted its holdings in shares of Citrix Systems by 175.0% in the 2nd quarter. Covington Capital Management now owns 275 shares of the cloud computing company’s stock worth $27,000 after buying an additional 175 shares during the period. Guinness Asset Management Ltd lifted its holdings in shares of Citrix Systems by 83.8% in the 2nd quarter. Guinness Asset Management Ltd now owns 294 shares of the cloud computing company’s stock worth $28,000 after buying an additional 134 shares during the period. Coastal Investment Advisors Inc. lifted its holdings in shares of Citrix Systems by 107.6% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 384 shares of the cloud computing company’s stock worth $38,000 after buying an additional 199 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in shares of Citrix Systems in the 2nd quarter worth $38,000. Finally, CSat Investment Advisory L.P. lifted its holdings in shares of Citrix Systems by 87.9% in the 2nd quarter. CSat Investment Advisory L.P. now owns 434 shares of the cloud computing company’s stock worth $43,000 after buying an additional 203 shares during the period. Institutional investors and hedge funds own 97.73% of the company’s stock.

Shares of NASDAQ CTXS traded up $0.81 during trading hours on Friday, hitting $96.59. 728,892 shares of the company traded hands, compared to its average volume of 2,022,067. The company’s 50 day moving average price is $94.79 and its 200 day moving average price is $96.96. The stock has a market capitalization of $12.64 billion, a price-to-earnings ratio of 21.09, a price-to-earnings-growth ratio of 3.47 and a beta of 1.02. The company has a current ratio of 0.76, a quick ratio of 0.74 and a debt-to-equity ratio of 1.86. Citrix Systems has a 12 month low of $90.28 and a 12 month high of $112.27.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, September 6th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.45%. The ex-dividend date of this dividend was Thursday, September 5th. Citrix Systems’s dividend payout ratio (DPR) is presently 30.57%.

About Citrix Systems

Citrix Systems, Inc provides workspace, networking, and analytics solutions worldwide. The company offers workspace services, including Citrix Virtual Apps and Desktops, a cloud-enabled app and desktop virtualization solution that gives customers the flexibility to deliver desktops and applications as a service from cloud and on-premises datacenters; and Citrix Virtual Apps that allows Windows and Linux applications to be remotely delivered to Macs, PCs, thin clients, and Android/iOS mobile devices from any cloud, on-premises datacenter, or both.

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