Cisco Systems (NASDAQ:CSCO) Issues Q3 2020 After-Hours Earnings Guidance

Cisco Systems (NASDAQ:CSCO) updated its third quarter 2020
After-Hours earnings guidance on Wednesday. The company provided EPS guidance of 0.79-0.81 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.80. The company issued revenue guidance of $12.504-12.764 billion, compared to the consensus revenue estimate of $12.62 billion.Cisco Systems also updated its Q3 guidance to $0.79-0.81 EPS.

Several research analysts recently issued reports on the stock. BidaskClub raised shares of Cisco Systems from a sell rating to a hold rating in a research report on Thursday. Evercore ISI reissued a buy rating on shares of Cisco Systems in a research report on Sunday, December 15th. Barclays raised shares of Cisco Systems from an equal weight rating to an overweight rating and set a $53.00 price target for the company in a research report on Thursday, December 19th. Goldman Sachs Group reissued a hold rating and issued a $48.00 price target on shares of Cisco Systems in a research report on Thursday. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Cisco Systems in a research note on Thursday, November 14th. Twelve research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Cisco Systems presently has a consensus rating of Buy and an average price target of $54.41.

Cisco Systems stock traded down $0.35 during trading hours on Friday, hitting $46.97. 26,733,355 shares of the stock were exchanged, compared to its average volume of 19,355,203. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.64 and a current ratio of 1.70. The stock has a market capitalization of $207.32 billion, a P/E ratio of 18.71, a P/E/G ratio of 2.84 and a beta of 1.22. Cisco Systems has a 12 month low of $43.40 and a 12 month high of $58.26. The business’s 50-day moving average is $47.95 and its two-hundred day moving average is $47.89.

Cisco Systems (NASDAQ:CSCO) last issued its quarterly earnings data on Wednesday, February 12th. The network equipment provider reported $0.77 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.76 by $0.01. The firm had revenue of $12 billion for the quarter, compared to analysts’ expectations of $11.98 billion. Cisco Systems had a net margin of 21.15% and a return on equity of 35.01%. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.73 earnings per share. On average, equities analysts predict that Cisco Systems will post 2.94 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 22nd. Stockholders of record on Friday, April 3rd will be paid a dividend of $0.36 per share. This is a boost from Cisco Systems’s previous quarterly dividend of $0.35. This represents a $1.44 annualized dividend and a dividend yield of 3.07%. The ex-dividend date is Thursday, April 2nd. Cisco Systems’s dividend payout ratio is 49.12%.

In other news, CAO Prat Bhatt sold 39,343 shares of the stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $44.88, for a total transaction of $1,765,713.84. Following the sale, the chief accounting officer now directly owns 137,634 shares of the company’s stock, valued at $6,177,013.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Irving Tan sold 10,733 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $44.81, for a total transaction of $480,945.73. Following the sale, the executive vice president now directly owns 172,199 shares in the company, valued at $7,716,237.19. The disclosure for this sale can be found here. Insiders have sold 388,864 shares of company stock worth $17,474,321 over the last three months. 0.03% of the stock is owned by insiders.

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 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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Earnings History and Estimates for Cisco Systems (NASDAQ:CSCO)

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