Piper Jaffray Companies Analysts Cut Earnings Estimates for Cisco Systems, Inc. (CSCO)

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Cisco Systems, Inc. (NASDAQ:CSCO) – Research analysts at Piper Jaffray Companies reduced their Q2 2019 earnings estimates for Cisco Systems in a research note issued to investors on Wednesday, November 14th. Piper Jaffray Companies analyst A. Nowinski now forecasts that the network equipment provider will earn $0.65 per share for the quarter, down from their previous forecast of $0.66. Piper Jaffray Companies currently has a “Overweight” rating and a $53.00 target price on the stock. Piper Jaffray Companies also issued estimates for Cisco Systems’ FY2019 earnings at $2.69 EPS, Q3 2020 earnings at $0.73 EPS, Q1 2021 earnings at $0.73 EPS and FY2021 earnings at $3.00 EPS.

Cisco Systems (NASDAQ:CSCO) last posted its earnings results on Wednesday, November 14th. The network equipment provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.03. Cisco Systems had a return on equity of 25.58% and a net margin of 2.52%. The business had revenue of $13.07 billion for the quarter, compared to analysts’ expectations of $12.86 billion. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The business’s revenue was up 7.7% compared to the same quarter last year.

CSCO has been the topic of a number of other research reports. Zacks Investment Research cut Cisco Systems from a “buy” rating to a “hold” rating in a research report on Friday, October 26th. Credit Suisse Group raised their price target on Cisco Systems from $41.00 to $43.00 and gave the stock a “hold” rating in a report on Thursday, August 16th. BMO Capital Markets raised their price target on Cisco Systems from $43.00 to $48.00 and gave the stock a “market perform” rating in a report on Thursday, August 16th. Morgan Stanley raised their price target on Cisco Systems from $48.00 to $51.00 and gave the stock an “overweight” rating in a report on Tuesday, September 4th. Finally, Deutsche Bank raised their price target on Cisco Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Thursday, November 15th. Seven research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company. Cisco Systems presently has a consensus rating of “Buy” and an average target price of $49.49.

CSCO opened at $45.75 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 2.05 and a current ratio of 2.11. Cisco Systems has a one year low of $35.93 and a one year high of $49.47. The stock has a market cap of $223.29 billion, a PE ratio of 19.55, a PEG ratio of 2.73 and a beta of 1.11.

Institutional investors and hedge funds have recently made changes to their positions in the business. Paradigm Asset Management Co. LLC boosted its stake in shares of Cisco Systems by 828.6% during the 3rd quarter. Paradigm Asset Management Co. LLC now owns 16,250 shares of the network equipment provider’s stock worth $791,000 after acquiring an additional 14,500 shares in the last quarter. B. Riley Wealth Management Inc. purchased a new stake in shares of Cisco Systems during the 3rd quarter worth approximately $1,207,000. TIAA CREF Investment Management LLC boosted its stake in shares of Cisco Systems by 1.7% during the 3rd quarter. TIAA CREF Investment Management LLC now owns 33,285,440 shares of the network equipment provider’s stock worth $1,619,337,000 after acquiring an additional 558,313 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Cisco Systems by 3.1% during the 3rd quarter. Teachers Advisors LLC now owns 16,278,554 shares of the network equipment provider’s stock worth $791,952,000 after acquiring an additional 482,109 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Cisco Systems by 3.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 11,501,866 shares of the network equipment provider’s stock worth $559,566,000 after acquiring an additional 372,269 shares in the last quarter. 70.28% of the stock is currently owned by institutional investors.

In other Cisco Systems news, EVP Mark D. Chandler sold 31,842 shares of Cisco Systems stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $47.20, for a total value of $1,502,942.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Irving Tan sold 68,308 shares of Cisco Systems stock in a transaction that occurred on Friday, September 14th. The shares were sold at an average price of $47.38, for a total value of $3,236,433.04. Following the completion of the sale, the senior vice president now directly owns 150,763 shares in the company, valued at approximately $7,143,150.94. The disclosure for this sale can be found here. Insiders sold a total of 450,620 shares of company stock worth $21,322,282 in the last ninety days. 0.03% of the stock is owned by corporate insiders.

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 24th. Shareholders of record on Friday, October 5th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Thursday, October 4th. Cisco Systems’s dividend payout ratio is presently 56.41%.

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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