Cisco Systems, Inc. (NASDAQ:CSCO) – Piper Jaffray Companies raised their FY2021 earnings per share estimates for Cisco Systems in a research note issued on Monday, November 11th. Piper Jaffray Companies analyst J. Fish now expects that the network equipment provider will post earnings per share of $2.98 for the year, up from their prior estimate of $2.95. Piper Jaffray Companies has a “Neutral” rating and a $51.00 price target on the stock. Piper Jaffray Companies also issued estimates for Cisco Systems’ FY2022 earnings at $3.08 EPS.
Cisco Systems (NASDAQ:CSCO) last announced its earnings results on Wednesday, November 13th. The network equipment provider reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.81 by $0.03. Cisco Systems had a return on equity of 32.43% and a net margin of 22.39%. The business had revenue of $13.16 billion for the quarter, compared to analyst estimates of $13.09 billion. During the same period in the previous year, the company earned $0.75 earnings per share. The company’s revenue for the quarter was up .7% compared to the same quarter last year.
Shares of NASDAQ CSCO opened at $48.46 on Wednesday. Cisco Systems has a 1 year low of $40.25 and a 1 year high of $58.26. The firm has a market cap of $204.13 billion, a price-to-earnings ratio of 17.00, a PEG ratio of 2.34 and a beta of 1.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.46 and a current ratio of 1.51. The stock’s 50-day simple moving average is $47.49 and its 200-day simple moving average is $51.91.
A number of hedge funds have recently modified their holdings of CSCO. Evolution Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $33,000. Lowe Wealth Advisors LLC bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $38,000. Personal Wealth Partners bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $44,000. Ashburton Jersey Ltd bought a new stake in shares of Cisco Systems during the second quarter valued at approximately $49,000. Finally, Cordasco Financial Network raised its holdings in shares of Cisco Systems by 78.4% during the third quarter. Cordasco Financial Network now owns 1,142 shares of the network equipment provider’s stock valued at $56,000 after buying an additional 502 shares during the last quarter. Institutional investors own 73.79% of the company’s stock.
In other Cisco Systems news, CFO Kelly A. Kramer sold 70,000 shares of Cisco Systems stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $46.72, for a total value of $3,270,400.00. Following the completion of the transaction, the chief financial officer now directly owns 277,548 shares in the company, valued at $12,967,042.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mark D. Chandler sold 10,733 shares of Cisco Systems stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $50.05, for a total value of $537,186.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 193,130 shares of company stock valued at $9,359,179. 0.03% of the stock is currently owned by insiders.
The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Friday, October 4th were paid a $0.35 dividend. The ex-dividend date was Thursday, October 3rd. This represents a $1.40 dividend on an annualized basis and a yield of 2.89%. Cisco Systems’s payout ratio is currently 49.12%.
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 worldwide. The company offers switching products; routing products that interconnect public and private wireline and mobile networks; data center products; and wireless access points for use in voice, video, and data applications.
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